Apr 6 2013
Liquidmetal® Technologies, Inc. (LTI), the leading developer of amorphous alloys and composites, has reported an increased level of Liquidmetal prototypes parts shipped to major players in its targeted industries during the first quarter of 2013.
Q1 2013 Prototype Summary
- During the first quarter, Liquidmetal delivered five new prototype shipments to five different customers, which was up 67% from the prior quarter and compared to none in the same year-ago period. Each shipment contained multiple prototype parts.
- Most of the prototype shipments were to new customers in the oil and gas industry for use in exploration and development activities, which represents a new market for the company.
- The company increased its prototype activity with a major customer in the aerospace and defense industry by shipping additional parts of existing active prototypes for further testing and evaluation.
- At the end of the first quarter of 2013, there were 15 Liquidmetal prototypes actively being evaluated by customers, up from 10 at the end of the previous quarter and two at the end of Q1 2012.
Prototypes allow potential or current customers to analyze and qualify parts before full production runs begin. This is typically a complex and lengthy process, and often requires a number of prototype iterations.
“We’ve received increased interest in Liquidmetal alloy from major oil and gas exploration companies, which is reflected in the majority of prototype parts we shipped in Q1,” said Bruce Bromage, Liquidmetal Technologies’ EVP of business development and operations. “Millions of shaped charges are detonated each year to improve flow of oil and gas wells through perforation. We offer the potential to significantly increase the performance of these perforators by exploiting Liquidmetal alloy’s unique combination of glass-like ductility and metallic density as well as its ability to be molded into a rugged, precision form. We believe this represents a substantial new opportunity for Liquidmetal Technologies.”
The number of active prototypes undergoing extensive evaluation by customers reveals a growing interest in the amorphous alloy’s distinctive performance characteristics. “As we continue to collaborate with customers to perfect their Liquidmetal alloy parts,” added Bromage, “we expect to see a number of these prototypes progress to commercial production over the course of the year.”
Source: http://www.liquidmetal.com