SINTX Technologies Provides Update on SINTX Armor
SINTX Technologies, Inc. (NASDAQ: SINT) announced the launch of its subsidiary SINTX Armor, signing a 10-year lease for a facility in Salt Lake City for development and manufacturing. The facility will house equipment moved from Dayton, OH, with construction updates underway to facilitate machine qualification starting December 2021. The new facility will produce advanced ceramic armor, including BoroShock and DuraShock, aimed at military and industrial applications. Revenue growth is anticipated in H2 2022 as production begins.
- The establishment of SINTX Armor could open up new revenue streams in the ceramic armor market.
- A 10-year lease on a new facility indicates a long-term commitment to expanding manufacturing capabilities.
- Advanced ceramic products such as BoroShock and DuraShock are expected to have superior performance, potentially capturing market share.
- The startup of production is delayed until Q2 2022, which could affect initial revenue expectations.
- Risks associated with product effectiveness and market acceptance remain, as mentioned in the forward-looking statements.
SALT LAKE CITY, Nov. 16, 2021 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics, provided an update today on the launch of its newly created and wholly-owned subsidiary SINTX Armor.
SINTX has signed a 10-year lease on a facility near its headquarters in Salt Lake City, UT to house development and manufacturing activities for SINTX Armor. All of the equipment associated with the ceramic armor business previously located in Dayton, OH has now been moved into the new facility. SINTX has begun construction of the updates to the building’s infrastructure to accommodate the new machines. Based on current construction projections, SINTX expects to initiate equipment qualification in December 2021 and to complete final qualification by mid Q1 2022. Additionally, the first shipments of raw materials are expected to arrive at the facility before the end of November.
Earlier this year, SINTX announced that it entered the ceramic armor market through the purchase of assets from B4C, LLC and a technology partnership with Precision Ceramics, USA. In its new facility, SINTX will develop and manufacture pure Boron Carbide, newly branded BoroShock, believed to be the highest strength ceramic armor available, as well as a special, lower-cost composite of Boron Carbide and Silicon Carbide, branded as DuraShock. The high hardness of these ceramics can spread the kinetic energy of projectiles and offer some of best protection-to-weight ratio without impacting performance. Expected applications for the high-performance ceramic armor plates are personnel, aircraft, and armored vehicle uses.
Business development efforts around SINTX Armor have ramped up with increased sales efforts in anticipation of production kicking off in Q2 2022. Vice President of Business Development at SINTX, Don Bray will focus entirely on industrial and armor ceramics. SINTX expects revenue in the 2nd half of 2022 to increase related to the launch of SINTX Armor.
About SINTX Technologies, Inc.
SINTX Technologies is an OEM ceramics company that develops and commercializes advanced ceramics for medical and non-medical applications. The core strength of SINTX Technologies is the manufacturing, research, and development of ceramics for external partners. The Company presently manufactures silicon nitride powders and components in its FDA registered, ISO 13485:2016 certified, and ASD9100D certified manufacturing facility.
For more information on SINTX Technologies or its ceramic materials platform, 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. Risks and uncertainties that may cause such differences 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 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 Technologies
801.839.3502
IR@sintx.com
Media Inquiries for SINTX:
Amanda Barry
Director of Content & PR
The Summit Group
abarry@summitslc.com
FAQ
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