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Tuesday, 6 June 2023

Aurora Labs and Aramco see potential to join forces with inking of MoU

by Earn Media

Aurora Labs and Aramco see potential to join forces with inking of MoU

Aurora Labs (ASX:A3D) has signed a non-binding Memorandum of Understanding with Saudi Arabian oil group and petroleum refineries company Aramco.

The company says the MoU was signed during a visit to Aurora Labs’ Perth facility by senior executives of Aramco, and outlines potential cooperation areas for both parties to explore, including the exchange of information regarding Aurora’s upcoming AL250 metal 3D printer, its high-power printing capabilities, and its patented MCP technology.

Aurora Labs reports the MoU also outlines exchange of information regarding Saudi Arabia and GCC markets, as well as the potential joint development of opportunities in the 3D printing business.

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

Speaking on the MoU, Aurora Labs Chief Executive Officer Peter Snowsill said: “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 Armaco’s vast energy industry experience.

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

Aurora Labs is an ASX-listed industrial technology and innovation company that specialises in the development of 3D metal printers, powders, digital parts, and their associated intellectual property.

Meanwhile, Aramco represents one of the world’s leading integrated energy and chemicals companies based in Dhahran within the Eastern Province of Saudi Arabia. As of 2022, the company is one of the largest companies in the world by revenue and has repeatedly achieved the largest annual profits in global corporate history.

Image: Aurora Labs Ltd
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