SINTX TECHNOLOGIES ENTERS A LONG-TERM SUPPLY AGREEMENT FOR AEROSPACE COMPONENTS
November 07 2023 - 9:00AM
SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT; “SINTX” or
the “Company”), a manufacturer and developer of advanced ceramic
materials and related technologies, announced that it has entered a
Long-Term Agreement (LTA) to supply jet engine components made of
its silicon nitride. The agreement materialized after a rigorous
2-year qualification of the Company’s Operational and Quality
Management Systems and manufacturing capabilities, and successful
testing of prototype components.
“To meet the challenge of making aerospace parts
with complex designs, SINTX had to innovate new manufacturing
capabilities and processes,” said Dave O’Brien, Executive Vice
President and Chief Operating Officer at SINTX. “This entailed
going beyond our expertise in producing medical implants into
manufacturing strong and durable jet engine components under an
AS9100D certified quality management system.”
“This LTA is one example of the non-medical
opportunities that SINTX is targeting, as the Company seeks to
expand its capabilities beyond biomedical implants toward producing
industrial and aerospace products. SINTX’s Maryland facility, for
instance, is making prototypes for several energy and defense
applications,” added Mr. O’Brien.
There are no minimum requirements under the LTA,
and annual revenues are projected to be less than $0.25 million.
The LTA allows SINTX to fulfill all of the customer’s requirements
for silicon nitride aerospace components as long as SINTX meets
specified quality, delivery, and purchase order metrics. The LTA
extends to the end of 2026 with a customer option for renewal, and
with periodic demand forecasts guiding supply plan management and
revenues.
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About SINTX Technologies, Inc.
SINTX Technologies is an advanced ceramics
company that develops and commercializes materials, components, and
technologies for medical and technical applications. SINTX is a
global leader in the research, development, and manufacturing of
silicon nitride, and its products have been implanted in humans
since 2008. Over the past two years, SINTX has utilized strategic
acquisitions and alliances to enter into new markets. The Company
has manufacturing facilities in Utah and Maryland.
For more information on SINTX Technologies or
its materials platform, visit www.sintx.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 (PSLRA), including, but not limited to,
statements regarding SINTX’s ability to effectively manufacture
ceramic products, the market for and benefits of SINTX’s ceramic
products, SINTX’s ability to effectively compete in the medical,
industrial, and aerospace industries, and other statements that are
not based on historical fact. Such forward-looking statements are
subject to a number of risks and uncertainties that may cause
actual results to differ from current expectations. Risks and
uncertainties that may cause such differences include, among other
things: SINTX’s products may not prove to be as effective as other
products currently being commercialized or to be commercialized in
the future by competitors; risks inherent in manufacturing and
scaling up to commercial quantities while maintaining quality
controls and qualification standards; the uncertainties inherent in
new product development, including the cost and time required to
commercialize such product(s); market acceptance of SINTX’s
products once commercialized; risks related to manufacturing
products and market acceptance in the highly regulated aerospace
industry; SINTX’s ability to realize revenue and meet its order
obligations under the LTA; the customer’s right to terminate the
LTA; volatility in the price of SINTX’s common stock; SINTX’s
ability to raise 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 29, 2023, 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 and Media Inquiries for SINTX:SINTX
Technologies801.839.3502IR@sintx.com
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