…Here’s a swift recap of AML3D from that report (to July 30) when a significant increase in defence contract wins was expected for other newcomers;
Two years ago, it received an unsolicited approach from U.S. defense officials asking if its technology-which specializes in a type of printing that allows the creation of large-scale, complex parts-could help with manufacturing.
It has since signed a raft of defense-related contracts.
The most recent, for the sale of a printing system to U.S. Navy component supplier Laser Welding Solutions, was worth about US$730,000, more than it generated annually in its last set of full-year results.
"The company literally went on a tenfold increase in revenue within the space of about 12 months," AML3D Chief Executive Sean Ebert said.
AML3D has secured about US$9 million of U.S. defense sub-contracts since early 2023, supported from its facility in southern Australia.
Demand is so strong that the company recently signed a 64-month lease on a site in Ohio to set up a U.S. headquarters and manufacturing facility, focused on supporting the U.S. Navy's submarine industrial base.
It is currently hiring welding, software and robotics engineers for the facility.
AML3D, which this year banked about US$4.6 million in an upsized capital raise, expects its U.S. hub to drive a significant increase in defense contract wins and to support expansion into local marine, oil and gas, and aerospace sectors.
It will also allow the company to bid for more contracts restricted to U.S.-based manufacturers.
"When you're dealing with defense parts, you can't be on the surface level. You actually have to be at quite a deep level in terms of how you operate, how you comply with their protocols and how you deal with manufacturing what are really quite sensitive parts," Ebert said.” ….
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)