Aurora Labs Limited has signed a non-binding Memorandum of Understanding (MoU) with Saudi Arabian Oil Company (Saudi Aramco) to explore growth opportunities and exchange information regarding Aurora’s upcoming AL250 metal 3D printer.
The MoU, signed during a visit to Aurora Labs’ Perth facility by senior executives of Aramco, will see the two companies investigate the high-power printing capabilities and its patented Multi-Layer Concurrent Printing (MCP) technology.
The agreement also outlines the exchange of information regarding Saudi Arabia and GCC markets, and potential joint development of opportunities in the 3D printing business.
Peter Snowsill, Aurora Labs’ CEO, expressed his appreciation for Aramco’s time and interest in coming to see Aurora’s facilities.
“We thank Aramco for their time and interest to visit our facility and we look forward to learning more about the opportunities we can explore together, leveraging Aurora Labs’ technology with Aramco’s vast energy industry experience,” Snowsill said.
He also applauded Aramco for realising the advantages of regional metal 3D printing production for the supply chain.
In March, the ASX-listed company announced that its Share Purchase Plan (SPP) closed with funds totalling $499,500 to ramp up the design and build of its high-powered laser printer, among other plans.
Funds raised will also be used to strengthen Aurora Labs’ print service business and improve the technology development and testing of the company’s proprietary and patented MCP technology.
According to recent announcements, clients in the energy, resources, defence, and research sectors would be the primary targets of the company’s market release of AL250, its first commercial high-power printer.
Aurora Labs is an industrial technology and innovation company that specialises in the development of 3D metal printers, powders, digital parts and their associated intellectual property.
