Jan 20, 2017 | By Tess

Australian metal 3D printer manufacturer Aurora Labs announced this morning it has signed a non-binding Term Sheet with Sydney-based engineering firm WorleyParsons. The proposed partnership is seeking to combine Aurora Labs’ metal 3D printing products and technology with WorleyParsons’ wide network of contacts within the mining and infrastructure industries. The Term Sheet has been written for a period of at least 12 months, though as mentioned, it is not legally binding for either party.

As part of the non-binding agreement, both companies have said they will collaboratively focus on four key areas: the license and distribution of Aurora’s metal 3D printers, design and certification (Solutions Centre), the establishment of a print bureau, and powder production. Since the announcement of the Term Sheet this morning, Aurora Labs’ shares have seen a rise on the Australian Securities Exchange (ASX).

The first key point in the agreement, license and distribution, proposes that WorleyParsons will become a non-exclusive distributor of Aurora Labs metal 3D printers and consumables. The companies also hope to establish a Solutions Centre, which will essentially be a business through which designs can be developed and sold to be used with Aurora Labs’ 3D printing products. According to the terms, “The designs created in the Solutions Centre will be hosted or form part of a broader online designs catalogue to be developed by Aurora.”

The proposed Print Bureau, as one can deduce, will be a 3D print service through which third parties can order prints made on Aurora machines. The designs for these prints would either come from the Solutions Centre or be the client’s own designs. Lastly, both companies will also explore the possibility of creating a market for bulk and specialty metal 3D printing powders, which could be used with Aurora’s 3D printers.

In the released Term Sheet, WorleyParsons prudently reminds us that the agreement is non-binding, saying, “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.”

Perth-based 3D printing company Aurora Labs specializes in the development of metal 3D printers, printer software, and consumables. The company, which debuted on the ASX last summer, made an impressive start, raising AUD $2.8 million in its initial public offering, and stunned investors when its shares rose from an issue price of 20 cents a share to AUD $5.39 in November (closing at a respectable $3.52).

 

 

Posted in 3D Printer Company

 

 

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