RANCHO SANTA MARGARITA, Calif.--(BUSINESS WIRE)--Liquidmetal® Technologies Inc. (LTI) (OTCQB: LQMT), the leading developer of amorphous alloys and composites, has completed the first shipment of full production components as produced by its certified Liquidmetal manufacturing partner.
“This shipment represents an important milestone for our company, advancing us beyond our previous lab and production-prototype capabilities,” said Tom Steipp, LTI’s president and CEO. “Production prototype parts are necessary for our customers to analyze and qualify parts before full production runs that will occur on a recurring basis. In this case, that process progressed from lab-prototype parts produced in the Liquidmetal R&D facility to production-prototype parts built in our contract manufacturing facility and culminated with fully qualified production parts shipped monthly from our manufacturing partner in Colorado.”
This full production capability validates the commercial value of Liquidmetal parts to this customer and gives us important experience in working through the full sales process to the point where our contract manufacturing partner can operate without R&D or engineering oversight.
“This customer has realized the unmatched value of our amorphous alloy technology in producing strong, corrosion-resistant parts,” continued Steipp. “Their application is an ideal showcase for our Liquidmetal technology, and is helping to pave the way to greater market adoption across a number of industries.”
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.
This press release contains "forward-looking statements," including but not limited to statements regarding the advantages of Liquidmetal's amorphous alloy technology, scheduled manufacturing of customer parts and other statements associated with Liquidmetal's technology and operations. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Liquidmetal's expectations and projections. Risks and uncertainties include, among other things; customer adoption of Liquidmetal's technologies and successful integration of those technologies into customer products; potential difficulties or delays in manufacturing products incorporating Liquidmetal's technologies; Liquidmetal's ability to fund its current and anticipated operations; the ability of third party suppliers and manufacturers to meet customer product requirements; general industry conditions; general economic conditions; and governmental laws and regulations affecting Liquidmetal's operations. Additional information concerning these and other risk factors can be found in Liquidmetal's public periodic filings with the U.S. Securities and Exchange Commission, including the discussion under the heading "Risk Factors" in Liquidmetal's 2010 Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.