Aurora Labs signs 3D MoU with global giant Aramco

Leading Australian 3D printing specialist Aurora Labs (ASX: A3D) has inked a breakthrough agreement with one of the largest companies in the world.

Under the non-binding Memorandum of Understanding (MoU) with Saudi Arabian Oil Company (Aramco), the two companies will potentially collaborate on development of various 3D printing opportunities.

One of the world’s largest integrated energy and chemicals companies, Aramco has a market cap of approximately US$1.9 trillion. It employs more than 70,000 people around the world through various subsidiaries and joint ventures.

Perth-based Aurora Labs is developing a range of high-powered, multi-laser 3D printing package highlighted by an industrial grade, high productivity, high accuracy 3D metal printer.

Aramco execs visit Aurora’s facility

The MoU, signed by senior executives of Aramco during a visit to Aurora’s Perth facility, initially focuses on identifying cooperation areas for the two companies to investigate.

This will include an interchange of information related to Aurora’s AL250 metal 3D printer development and the company’s patented Multi-layer Concurrent Printing (MCP) technology.

The MoU also outlines exchange of information regarding the Saudi Arabia market and potential joint development of opportunities in the 3D printing business.

“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,” Aurora’s chief executive officer, Peter Snowsill, said.

“We are encouraged to see Aramco recognising the supply chain benefits metal 3D printing can deliver through localised production.”

Metal printing benefits

The resource industry, particularly the energy sector, has long identified 3D printing, and metal 3D printing.

Metal 3D printing has the ability to replace legacy parts with much quicker lead times, and improve and optimise design. On-demand manufacturing also enables faster response to supply chain disruptions, as products can be manufactured locally or closer to the point of use.

Innovation Connection partnership

In mid-May Aurora Labs revealed it had commenced a joint research project with Curtin University.

The project titled Selective Laser Melting process, will investigate the use of 3D printing as part of the Innovation Connections service under the Ausindustry Entrepreneurs Program.

Aurora Labs will be provided with a Curtin researcher and access to Curtin’s material testing facilities at the university’s John de Laeter Centre.

Metal 3D market

According to Researchandmarkets.com, the global metal 3D printing market is forecast to grow to US$35.33 billion by 2030.

The market is expected to witness a CAGR of 24.2% from 2023 to 2030.