SINTX TECHNOLOGIES AWARDED PHASE I CONTRACT FROM THE MISSILE DEFENSE AGENCY FOR ELECTROCHEMICAL MACHINING

Rhea-AI Summary

SINTX Technologies has secured a Phase I contract worth $150K from the U.S. Missile Defense Agency to enhance electrochemical machining (ECM) for aerospace components. This project focuses on developing corrosion-resistant, dielectric coatings aimed at extending tool life and reducing machining costs. Collaborating with Voxel Innovations, SINTX plans to scale up this technology for prototype development after successful contract completion. The U.S. micromachining market is growing, projected at $2.5 billion in 2019, with the non-traditional machining segment, including ECM, leading market advances.

Positive

• Secured a $150K contract from the U.S. Missile Defense Agency, signaling credibility and potential revenue growth.
• Development of advanced corrosion-resistant coatings could lower costs and improve quality in various sectors, including aerospace and automotive.
• The global micromachining market is projected to grow, presenting significant business opportunities for SINTX.

Negative

• None.

SALT LAKE CITY, Dec. 21, 2022 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics, announced today that is has received a Phase I contract for $150K from the U.S. Missile Defense Agency (MDA; https://www.mda.mil/) to enhance the performance of electrochemical machining (ECM) of critical components for aerospace. The project calls for SINTX to develop and demonstrate the unique advantages of corrosion resistant, dielectric, insulating multilayer coatings that will ultimately enable unprecedented tool life and exceptional ECM machining performance. Corrosion-resistant insulated coated tools made by ECM aim to lower costs and improve the quality of precision-machined aerospace, automotive, medical, computer, and consumer electronic components, thereby providing significant opportunities for market growth. ECM is an iterative process and is presently the most expensive element in advanced tool development. Dielectric insulating coatings that extend tool life could therefore generate significant cost advantages.

The proposal was originally submitted by Technology Assessment and Transfer (TA&T), which is now a wholly-owned subsidiary of SINTX. In the Phase I MDA contract, SINTX will develop thin-sputtered alternating multilayers to produce dense, pinhole-free coatings with lower residual stress and reduced thermal conductivity, when compared to single-layer coatings. The multilayer coatings will be deposited onto a stainless-steel substrate. A partner, Voxel Innovations (VOXEL; https://www.voxelinnovations.com/), will evaluate the corrosion and durability performance of the coatings developed by SINTX. After successful completion of the Phase I effort, SINTX intends to pursue a Phase II contract, aimed at scaling up the technology toward prototype development and technology demonstration.

“SINTX Technologies Inc., through its subsidiary TA&T, has been developing high-temperature, multilayer coatings for metals, ceramic matrix composites (CMC’s) and other high-temperature materials for over 30 years,” said Dr. Sonny Bal, President and CEO, SINTX Technologies. “We believe that this concept has strong merit, and that the MDA contract will allow SINTX to move the technology towards scale-up and commercialization.”

The global micromachining market in the U.S reached $2.5 B in 2019, and is expected to grow further (see: https://www.grandviewresearch.com/industry-analysis/micromachining-market). Increasing demand for precise machining of micro-components in automotive, aerospace, healthcare, and consumer electronics is driving market growth in three categories, namely, traditional, nontraditional and hybrid. Of these, the non-traditional category accounts for over 50% of sales because of the increasing demand for technologies like electro-discharge machining (EDM), electrochemical machining (ECM), and laser machining; this is the segment targeted by SINTX in the MDA contract. The turbine engine market, as an example, is expected to approach $1 trillion by 2031, that growth is facilitating ECM-based development of hard-to-machine titanium- and nickel-based superalloys.

The content included in this release is solely the responsibility of the authors and does not necessarily represent the official views of the U.S. Department of Defense.

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 advanced ceramics material platforms, please 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) that are subject to a number of risks and uncertainties, including the expectation that additional orders may be made and the growth of our business in the aerospace segment. These risks and uncertainties, many of which are beyond our control, include, among other things: our 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; 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 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 25, 2022, and in SINTX’s other filings with the SEC. 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 or Media Inquiries for SINTX:
SINTX Technologies
801.839.3502
IR@sintx.com

FAQ

What is SINTX Technologies' recent contract with the U.S. Missile Defense Agency?

SINTX Technologies secured a Phase I contract for $150K to enhance electrochemical machining for aerospace components.

How does SINTX's contract impact its business growth?

The contract allows SINTX to develop advanced coatings that can lower costs and improve machining quality, which may lead to increased market opportunities.

What are the potential market opportunities for SINTX Technologies?

SINTX is targeting the growing micromachining market, projected at $2.5 billion, especially the non-traditional machining segment.

What technology is SINTX developing under the MDA contract?

SINTX is developing corrosion-resistant, dielectric coatings to enhance tool performance in electrochemical machining.