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AML3D Participating in Nearly AU$4 Million Aerospace Manufacturing R&D Project; Shares Gain 7%

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AML3D (ASX:AL3) is joining a three-year advanced aerospace manufacturing research and development project under which participants will provide about AU$3.9 million, according to a Tuesday filing with the Australian bourse.

AML3D's contribution to the project is expected to be about AU$530,000, including AU$130,000 in cash and AU$400,000 in staff and other in-kind contributions over the project term, per the filing.

One of the objectives of the project is to develop AML3D's wire-arc additive manufacturing technology and processes to a level that is appropriate for qualified aerospace tooling production applications, the company said.

If successful, the project will position the company as a potential aerospace tooling production supplier.

AML3D shares gained 7% in recent Tuesday trade.

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