SINTX TECHNOLOGIES ENTERS INTO A SECOND LONG TERM SUPPLY AGREEMENT FOR THE AEROSPACE MARKET
February 21 2024 - 8:00AM
SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT; “SINTX” or
the “Company”), a manufacturer and developer of advanced ceramic
materials and related technologies, announced today that it has
entered into a 10-year, Long-Term Agreement (LTA) with a leading
manufacturer of aerospace components and systems. Under the LTA,
SINTX will manufacture and supply key ceramic aircraft engine
components which have been qualified through a rigorous evaluation
process.
“We are excited to serve our customer who is a
world leader in aerospace systems,” said Dave O’Brien, Executive
Vice President and Chief Operating Officer for SINTX. “SINTX’s
quality systems, operational capabilities, and expertise in ceramic
technologies have positioned the Company well to serve customers
who require the most stringent quality standards, such as those
found in the aerospace and biomedical markets. The Quality
Management System for our Salt Lake City facility is certified as
compliant with both the AS9100D and ISO 13485:2016 standards - for
the aerospace and biomedical sectors respectively.”
“This agreement is another step forward for
SINTX, as the Company continues its strategic shift to expand its
customer base beyond the biomedical sector. Aerospace & Defense
and Energy sectors now represent significant growth opportunities
for us across our product portfolio. We also anticipate continued
growth in our biomedical business, supported by new specialty
opportunities and the recent introduction of a new silicon nitride
spinal implant by our partner, CTL Amedica,” added Mr. O’Brien.
Valued at potentially as much as $8 million over
the life of the agreement, the LTA represents the single largest
customer agreement to date for SINTX. The LTA incorporates a
significant commitment from SINTX to collaborate with their
customer on reducing costs, improving efficiencies, and
implementing productivity programs. The LTA extends to the end of
2034 with a customer option to renew for an additional 10-year
period.
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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 several 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 materials platform, 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), including, but not limited to,
statements regarding SINTX’s ability to effectively manufacture
ceramic products, the market for and benefits of SINTX’s ceramic
products, SINTX’s ability to effectively compete in the ceramic
industry, and other statements that are not based on historical
fact. Such forward-looking statements are subject to a number of
risks and uncertainties that may cause actual results to differ
from current expectations. Risks and uncertainties that may cause
such differences include, among other things: there is no firm
commitment for the manufacturer of aerospace components and systems
to purchase products from SINTX; SINTX’s 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 29, 2023, 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 and Media Inquiries for SINTX:SINTX
Technologies801.839.3502IR@sintx.com
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