Wire arc additive manufacturing technology company AML3D has announced its best quarterly result in terms of customer receipts since listing on the ASX, and expects the next quarter to be a further improvement.
Receipts of $614,000 in the third quarter of 2021/22 came mostly through deposits on two Arcemy machines – to be acquired by University of Queensland and RMIT University – as well as bureau sales by the company and rental income from a machine installation in Singapore. Revenues for period were $267,000 versus $143,000 for the corresponding period last year.
The two machines are expected to be delivered in Q3 and final receipts of $385,000 on their sales expected to be received this financial year. Singaporean company ST Engineering is also expected to buy their Arcemy unit outright before the end of 2021/22.
AML 3D’s machines combine welding engineering, robotics and computer-aided design to build large-format additively manufactured parts.
The company also reported on its projects on wire feedstock development projects with Deakin University.
One project – backed by the Innovative Manufacturing CRC, on scandium-enhanced aluminium alloy wire, and lasting nine months – is “entering its final months”. It is expected to deliver an alloy that is “high strength, corrosion resistant… with significant commercial potential.”
Another two studies with Deakin University’s Institute for Frontier Materials (IFM) are “ready to commence”. These will investigate the use of boron nitride nanotubes incorporated in new composite materials to be used with AML3D’s proprietary WAM technology. Successfully completed proof-of-concept projects are “expected to result in [a] competitive advantage from access to new Australian owned intellectual property”.
AML3D listed on the ASX in 2020 and is not yet profitable. Its loss after income tax for the half-year to December 31 was $2.7 million, compared to $2.1 million for the previous corresponding period. Cash on hand at the end of the half was $4.5 million.
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