SINTX Enters Ceramic Armor Market Through Purchase of Assets from B4C, LLC and Technology License from Precision Ceramics USA Inc.
July 22 2021 - 9:00AM
SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”)
(www.sintx.com), an original equipment manufacturer (OEM) of
silicon nitride ceramic for medical and non-medical applications,
announced today that it has entered an asset purchase agreement
with B4C, LLC of Dayton, Ohio, to acquire the equipment and
technical processes required to make ballistic armor plates.
Separately, SINTX also entered into a technology license agreement
with Precision Ceramics USA Inc. (precision-ceramics.com) to
manufacture a ceramic composite for defense armor applications.
Ceramic materials are an integral part of modern
armor systems because of their light weight and resistance to high
velocity projectiles. Governments worldwide are investing in novel
ceramic armor solutions to protect law enforcement and military
personnel as well as vehicles, aircraft, and ships against
high-intensity threats. B4C, LLC is a specialty producer of Boron
Carbide, a ceramic material used in the manufacture of protective
body armor plates. Precision Ceramics USA Inc. is an international
expert in technical ceramic component solutions.
Through its newly-created and wholly-owned
subsidiary called SINTX Armor, the Company plans to utilize a
two-pronged strategy. The assets acquired from B4C will be used to
manufacture and market pure Boron Carbide - the highest strength
ceramic armor available. These are designed to protect soldiers
against hardened, high-velocity projectiles, against which other
materials are not as effective. Additionally, SINTX will jointly
develop and manufacture a special, lower cost composite of Boron
Carbide and Silicon Carbide, under an exclusive license from
Precision Ceramics USA Inc. The composite material is targeted at
the law enforcement and civilian armor markets.
“The agreement with SINTX is exciting and will
open new markets for our respective businesses,” said Sohail Amer,
Chairman of Precision Ceramics USA Inc. “We are looking forward to
combining our industry and product knowledge with SINTX’s expertise
in materials science to create high-tech, innovative solutions that
are unmatched in today’s market. Precision Ceramics is committed to
working closely with SINTX to make this venture a success.”
“With equipment and expertise acquired from B4C,
LLC, and the license from Precision Ceramics in place, SINTX
intends to apply its material science expertise toward the
development of personnel, aircraft, and vehicle armor,” said Dr.
Sonny Bal, President, and CEO, SINTX Technologies. “This is a very
significant diversification of our products into the U.S. military,
Department of Defense, and law enforcement segments. All of us at
SINTX take particular pride at this opportunity and feel great
responsibility to protect and serve our fellow citizens who risk
their lives for our safety.”
Going forward, Don Bray, VP of Business
Development at SINTX will focus entirely on industrial and armor
ceramics. SINTX expects to hire additional personnel who will
assume responsibilities in the antipathogenic business segment as
well as additional staff to support the armor business as the
Company transitions the assets purchased in Dayton, OH to Salt Lake
City, UT over the coming months.
Advisory services related to the B4C asset
purchase were provided by Ascendiant Capital Markets.
About SINTX Technologies,
Inc.SINTX Technologies is an OEM ceramics company that
develops and commercializes silicon nitride for medical and
non-medical applications. The core strength of SINTX Technologies
is the manufacturing, research, and development of silicon nitride
ceramics for external partners. The company presently manufactures
silicon nitride powders and components in its FDA registered, ISO
9001:2015 certified, ISO 13485:2016 certified, and AS9100D
certified manufacturing facility.
For more information on SINTX Technologies
or its silicon nitride material platform, please
visit www.sintx.com.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
(PSLRA) that are subject to a number of risks and uncertainties.
Risks and uncertainties that may cause such differences include,
among other things: incorporation of silicon nitride into personal
protective equipment may not be safe or effective; volatility in
the price of SINTX’s common stock; the uncertainties inherent in
new product development, including the cost and time required to
commercialize such product(s); market acceptance of our products
once commercialized; SINTX’s ability to raise additional funding
and other competitive developments. Readers are cautioned not to
place undue reliance on the forward-looking statements, which speak
only as of the date on which they are made and reflect management’s
current estimates, projections, expectations, and beliefs. There
can be no assurance that any of the anticipated results will occur
on a timely basis or at all due to certain risks and uncertainties,
a discussion of which can be found in SINTX’s Risk Factors
disclosure in its Annual Report on Form 10-K, filed with the
Securities and Exchange Commission (SEC) on March 22, 2021, and in
SINTX’s other filings with the SEC. SINTX disclaims any obligation
to update any forward-looking statements. SINTX undertakes no
obligation to publicly revise or update the forward-looking
statements to reflect events or circumstances that arise after the
date of this report.
Business Inquiries for SINTX:SINTX
Technologies801.839.3502IR@sintx.com
Media Inquiries for SINTX: Amanda Barry
Director of PR and ContentThe Summit Group abarry@summitslc.com
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