Back in January, about a month after Australian startup Aurora Labs announced that it had shipped the first 3D printer in its affordable, metal S-Titanium line, the company announced that it was getting ready to sign a non-binding Term Sheet with professional engineering services business WorleyParsons, also based in Australia, for a proposed commercial venture. At the time, the Term Sheet, which was set to operate for twelve months or longer if both parties could come to an agreement, was only a proposal, and not legally binding yet. The two companies have now officially signed a Binding Term Sheet to set up an Additive Manufacturing Solution Center, among other objectives.
“We are extremely pleased that since working with WorleyParsons in January, our collaboration has now resulted in a clearly defined arrangement,” said David Budge, Managing Director and Interim Chairman of Aurora Labs. “This is a validation of the impact 3D printing will have, and of the technology we are developing. We look forward to our continued venture to drive Aurora’s products forward.”
Aurora Labs specializes in developing 3D metal printers, powders, digital parts, and associated intellectual property (IP). The company is doing very well for itself – it became the top-performing IPO on the Australian Securities Exchange within only a few months of its initial listing – and this new agreement will only help its upward trajectory.
The startup wants to benefit major infrastructure, mining, and other resource companies around the world with its advanced 3D metal printing technology and products, which is why the proposed AM Solution Center is so important. According to the Binding Term Sheet, the two companies will create a Joint Venture in order to set up the center, which will provide service to multiple industries, including mining and oil and gas.
The center will bring Aurora’s metal 3D printing technology to companies in these industries around the world; through its “expert use of key technologies,” this center will also offer them a leg up over the general market.
The AM Solution Center will specifically center around licensing and distribution of Aurora’s metal 3D printers, design, and certification. It will develop designs that can be purchased and used for Aurora’s 3D printers; these designs will be hosted, or form part of, a larger catalog of online designs developed by Aurora alone.
The other aspects the Binding Term Sheet will focus on include:
- Distributing Aurora Labs’ 3D printers
- Exploring options for working on bulk powder production together
- Using Aurora Labs’ 3D technology to establish a Print Bureau
According to the Binding Term Sheet, a non-exclusive licence and distribution agreement will be set up so WorleyParsons will sell and distribute Aurora Labs’ metal 3D printers and products. The two companies will also work to set up a printing bureau to 3D print designs, either from the Solution Centre, client-supplied, or from an online design catalog, for third parties on Aurora’s printers. The other focus of the agreement is powder production – WorleyParsons and Aurora Labs will work together to investigate opportunities for creating a market for bulk and specialty metal powders that can be used with Aurora’s 3D printers.
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