ASX-listed technology and innovation company, Aurora Labs has entered into an agreement with WorleyParsons to form a 50/50 incorporated joint venture, to be named AdditiveNow.
AdditiveNow aims to provide a complete additive manufacturing service, primarily for oil & gas, mining and major infrastructure clients by bringing together Aurora Labs' products and technology with an existing substantial network of industry contacts.
Aurora Labs specialises in the development of 3D metal printers, powders, digital parts and their associated intellectual property.
It is proposed that AdditiveNow will focus on developing a service offering that is envisaged to include:
- Consultation: Assisting clients with additive manufacturing plans and conducting optimisation studies to improve efficiency, operability and manufacturability.
- Engineering: Providing clients with additive manufacturing related engineering services, such as parts design, bespoke metal 3D printing, parts optimisation and parts certification services.
- Agile manufacturing: – Short run productions: Providing clients with parts design/analysis services through to final production and deployment of those parts, allowing for optimal part design to reduce costs and improve overall performance
These service offerings and the timetable for their deployment will be, in part, dependent upon the continued development of Aurora Labs' products, systems and technology.
“The finalisation of this joint venture is a significant step forward for Aurora Labs and for the 3D printing industry as a whole," comments Aurora Labs MD David Budge.
"We look forward to helping our new broader network of customers to find business advantage through 3D printing solutions, especially across the mining, oil & gas and major infrastructure sectors.
"As our technology comes to market, Aurora Labs is optimistic that interest in 3D printing technology across these industries increase, and the company will follow any growth opportunities.
"We have already identified and initiated discussions with specific customers for efficiency opportunities to reduce their capital committed to spare parts and inventory, potentially replacing aspects of traditional supply chain with 3D metal printing technology.
"This has the potential to result in reducing inventory holding costs, freight and manufacturing lead times.
"We are looking forward to finding more commercial applications of the technology through this joint venture," he continues.