AML3D wins $2.5m contract to supply into US Navy component supply chain
Highlights
- AML3D receives an A$2.5 million ARCEMY® system order from US Defence contractor Cogitic Corporation.
- The ARCEMY® system will allow Cogitic to supply metal 3D-printed parts to the US Navy submarine industrial base.
- The Cogitic order aligns with AML3D’s strategy to embed ARCEMY systems in the wider US Navy supply chain.
AML3D Limited (ASX:AL3) (“AML3D” or “the Company“) is pleased to announce an order for an ARCEMY® system by Cogitic Corporation (“Cogitic”). Cogitic is a supplier of componentry to the US Navy’s Submarine Industrial base. The 6700 Edition ARCEMY® system is AML3D’s largest-sized industrial-scale metal 3D printing system, capable of producing components for US Navy and other defence applications. The ARCEMY® system will be purchased by Cogitic for circa A$2.5 million*, USD$1.6 million, based on a 50% upfront payment, with the balance via following testing, installation, and commissioning. The company expects final commissioning will occur in mid-calendar 2024. Cogitic is a Colorado Springs-based engineering and manufacturing company specialising in complex geometry components and assemblies. They service critical marine defense and defense-related industries with “cannot fail” applications. This Cogitic order continues to demonstrate the ongoing success of AML3D’s US scale-up strategy, which includes embedding ARCEMY® systems within the suppliers to the US Navy. The US is the largest Additive Manufacturing market in the world and AML3D’s most important growth market. The Company remains confident additional contracts in support of the US defense sector will be executed during the current financial year. AML3D CEO Sean Ebert said:
This purchase contract with Cogitic Corporation is further evidence of the ever-increasing demand for AML3D’s technology within the US Navy submarine industrial base supply chain.
As a longstanding supplier to the US defense industry, Cogitic has a reputation for combining innovative engineering with advanced technology to solve manufacturing problems, which makes ARCEMY System an attractive technology to enhance their manufacturing capability.
It is encouraging to see the momentum within AML3D’s US Scale up strategy continuing to accelerate and to see the commercial benefits as a result. We will remain alert to opportunities to maximize this commercial advantage, such as purchase and/or lease agreements, and the rapid deployment of our ARCEMY systems.
AML3D is committed to providing the US Defence sector with point of need advanced manufacturing solutions and to developing and deepening our long-term, strategic partnership with key stakeholders within the US Navy’s submarine program and supply chain. Our US scale up strategy also includes meeting the advanced manufacturing and metal 3D printing needs of global Tier 1 Oil and Gas and Aerospace companies. Our newly established relationship with Cogitic is built around supporting the US Navy’s submarine industrial base but Cogitic is also a key supplier to other industries, which may present opportunities to access these markets in the future.
Shown: Typical ARCEMY® 6700 Edition metal 3D printing system.
This announcement has been authorised for release by the Board of AML3D.
Source: AL3 AML3D Wins $2.5M Contract, PDF
About AML3D
AML3D Limited, a publicly listed technology company founded in 2014, utilises new technologies to pioneer and lead metal additive manufacturing globally. Disrupting the traditional manufacturing space, AML3D has developed and patented a Wire Additive Manufacturing (WAM®) process that metal 3D prints commercial, large-scale parts for Aerospace, Defence, Maritime, Manufacturing, Mining and Oil & Gas. AML3D provides parts contract manufacturing from its Technology Centre in Adelaide, Australia, and is the OEM of ARCEMY®, an industrial metal 3D printing system that combines IIoT and Industry 4.0 to enable manufacturers to become globally competitive.