Australian 3D printing company, Amaero International, has listed on the Australian Securities Exchange (ASX) with a market capitalisation of $35 million.
In its initial public offering (IPO) Amaero raised $8 million at 20c a share.
The company hopes to take a bite out of the expanding 3D printing market, which is valued to grow from $8.5 billion in 2015 to $34.4 billion by 2025.
First established in 2013, the company grew out of the operations of the Monash University Centre for Additive Manufacturing (MCAM). Amaero made headlines when it announced that it was able to 3D print a jet engine in 2015, and began working with Boeing, Airbus, and Safran.
The company is led by Barrie Finnin as CEO and David Hanna, Monash University’s director of business strategy as chairman.
“The use of metal 3D printing is growing rapidly in the aerospace, defence, and industrial sectors with manufacturers competing to secure the latest technology to improve their product capabilities,” said Hanna.
Already, Amaero has expanded to the US, with subsidiary AM Aero operating in El Segundo, Los Angeles. Manufacturing in Australia is carried out in Adelaide and Notting Hill in Melbourne.
The company has pursued innovation in 3D printing technology, and holds the exclusive rights to a high strength titanium alloy developed by Monash University, and a aluminium-scandium alloy.
“Through the ingenuity of Monash researchers, including students, we’ve been able to develop research collaborations and initiatives to treat anaphylaxis, eradicate dengue fever, purify some of the world’s dirtiest water, prolong the shelf life of powdered dairy products, reduce plastic waste and solve some of Australia’s transport problems, to name a handful of example,” said Monash University deputy vice-chancellor and vice president (enterprise), Ken Sloan.
After its first day of trading, the company shares gained 123 per cent, levelling out at $0.445 per share on December 6.