Liquidmetal Alloy Prototype Shipments Increase 67% in Q1 2013
The 67% Sequential Increase in Prototype Shipments was Driven by a New
Application in the Oil & Gas Industry
RANCHO SANTA MARGARITA, Calif. -- April 04, 2013
Liquidmetal® Technologies, Inc. (LTI) (OTCQB: LQMT), the leading developer of
amorphous alloys and composites, has reported an increased level of
Liquidmetal prototypes parts shipped to major players in its targeted
industries during the first quarter of 2013.
Q1 2013 Prototype Summary
*During the first quarter, Liquidmetal delivered five new prototype
shipments to five different customers, which was up 67% from the prior
quarter and compared to none in the same year-ago period. Each shipment
contained multiple prototype parts.
*Most of the prototype shipments were to new customers in the oil and gas
industry for use in exploration and development activities, which
represents a new market for the company.
*The company increased its prototype activity with a major customer in the
aerospace and defense industry by shipping additional parts of existing
active prototypes for further testing and evaluation.
*At the end of the first quarter of 2013, there were 15 Liquidmetal
prototypes actively being evaluated by customers, up from 10 at the end of
the previous quarter and two at the end of Q1 2012.
Prototypes allow potential or current customers to analyze and qualify parts
before full production runs begin. This is typically a complex and lengthy
process, and often requires a number of prototype iterations.
“We’ve received increased interest in Liquidmetal alloy from major oil and gas
exploration companies, which is reflected in the majority of prototype parts
we shipped in Q1,” said Bruce Bromage, Liquidmetal Technologies’ EVP of
business development and operations. “Millions of shaped charges are detonated
each year to improve flow of oil and gas wells through perforation. We offer
the potential to significantly increase the performance of these perforators
by exploiting Liquidmetal alloy’s unique combination of glass-like ductility
and metallic density as well as its ability to be molded into a rugged,
precision form. We believe this represents a substantial new opportunity for
The number of active prototypes undergoing extensive evaluation by customers
reveals a growing interest in the amorphous alloy’s distinctive performance
characteristics. “As we continue to collaborate with customers to perfect
their Liquidmetal alloy parts,” added Bromage, “we expect to see a number of
these prototypes progress to commercial production over the course of the
About Liquidmetal Technologies
Rancho Santa Margarita, California-based Liquidmetal Technologies, Inc. is the
leading developer of bulk alloys and composites that utilize the performance
advantages offered by amorphous alloy technology. Amorphous alloys are unique
materials that are distinguished by their ability to retain a random structure
when they solidify, in contrast to the crystalline atomic structure that forms
in ordinary metals and alloys. Liquidmetal Technologies is the first company
to produce amorphous alloys in commercially viable bulk form, enabling
significant improvements in products across a wide array of industries. For
more information, go to www.liquidmetal.com.
Liquidmetal Technologies, Inc.
Liolios Group, Inc.
Matt Glover or Michael Koehler
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