Aurora Labs Limited (ASX: A3D), the developer and supplier of 3D metal printers, associated software and consumable materials, on 1st May 2019, announced the launch of Rapid Manufacturing RMP1 Beta Printer. The company has achieved a significant milestone in its commercialisation process confirming the build and first live test of pre-production RMP1 Beta Printer.
The RMP1 Beta Printer is almost identical in terms of operation of the group’s final production line machines. There is also a scope of improvement based on the feedback received from the customers. In CY2019, the production version of RMP1 will be commercially available.
As compared to any other previous machines built by the company, the RMP1 Beta Printer is significantly more sophisticated. The RMP1 Beta Printer’s print bed has the dimension of 450 mm x 400 mm and has the potential to print parts 10x more than the volume of Alpha2 printer. Also, RMP1 Beta Printer has 3x processing capacity compared to that of Alpha2 printer.
The RMP1 Beta Printer is now functional with all primary sub-systems in operation. The company will now be stepping towards the commissioning and testing of the printer. This process comprised of machine calibration, printing test as well as the production of sample parts.
Once the machine has gone through the current calibration and parameter testing process, there are a number of options available for the company, such as the sale of the machine to an industry partner. At present, Aurora Labs is under discussion with one of its industry partners around the potential sale of the RMP1 Beta Printer.
The company places a huge emphasis on industry partnerships as a means for its future growth. The group is currently undergoing conversations with the various parties. Aggressive follow-ups with potential interested parties are being done by Aurora, keeping in mind that they have to secure pre-orders for the future machines.
In Q3 FY2019, the company made significant progress in the unique 3D printing Rapid Manufacturing technology, which demonstrated the scalable nature of the technology with a remarkable printing speed of 113kgs per day. The company also showcased the Multi-level Printing that was used in the Rapid Manufacturing Technology printers at the at an international tradeshow, AMUG in Chicago, where the group received extremely high interest in the product. Based on this, the company is confident that it will be able to generate sales from the machine.
The AdditiveNowTM joint venture that was established in December 2018 to serve the energy and mining sectors, has now started its commercial operation.
In the March 2019 quarter, net cash outflow of Aurora Labs stood at A$2.246 million through the operating activities. The receipts from the clients have declined during the period, and also there was a significant cash outflow in the form of research and development, product manufacturing and operating and staff costs along with the administration and corporate costs.
The company generated A$5.003 million from the issue of shares. There was certain transaction cost related to the issue of shares, convertible notes or options. Thus, the net cash inflow through the financing activities was A$4.691 million. The net cash and cash equivalent of the company at the end of the quarter were A$4.842 million.
At market close on 1st May 2019, the A3D stock was trading at A$0.360, up by 4.348% as compared to its previous closing price. A3D holds a market capitalisation of A$30.58 million with approximately 88.64 million outstanding shares.
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