Aurora Labs Signs Joint Business Venture with WorleyParsons

Aurora Labs has recently released information after the company signed a non-binding term sheet with engineering service, WorleyParsons. The company said the agreement would focus on licensing and distribution of its 3D metal parts for the printers, design and certification.

KEY TAKEAWAYS:

• Discussions with the world’s largest mining companies about helping them to reduce their inventories of spare part through the use of the companys 3D printers.
• The company was listed on the ASX last year in August at 20-cents an issue, which then skyrocketed to a peak to $5.35 creating market capitalisation of nearly $300 million.

Aurora Labs has patent-pending technology that has the potential to revolutionize the manufacturing industry. They have developed the world’s first affordable 3D metal printer and are in the prototyping and testing phase of their ground breaking large format printer (expected to print 100 times faster than current competing printers with similar resolution).

“The proposed venture with Worley sought to bring together Aurora’s products and technology with an existing network of contacts in the mining and infrastructure industries.

“Whilst Aurora is optimistic that a more definitive arrangement may be reached, there is no assurance that any legally binding agreement will be entered into or that any matter contemplated by the term sheet will be completed,” the company cautioned in a statement.

The focus of the exuberance is its large-format 3D metal printer prototype that the company says can be used to make metal parts for a variety of industrial applications.

The Bibra Lake company – led by Perth engineer David Budge, who also owns 43.5 per cent of the company’s stock – is also marketing a smaller 3D metal printer for the consumer market.”