One $17 million ASX share has leapt 20% on Wednesday on a new world-first. The AML3D Ltd (ASX: AL3) share price rocketed after the company announced it's the world's first wire additive manufacturing company to be endorsed by a certain leading accreditation society.
At the time of writing, the AML3D share price is leaping 19.23% higher on the ASX, trading for 9.3 cents. That's after fetching up to 34% higher during intraday trading.
For comparison, the All Ordinaries Index (ASX: XAO) is currently down 0.19%.
Let's take a closer look at the latest news from the metal additive manufacturer.
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This tiny ASX share is leaping 20% on a world-first
Wednesday has proven a good one for this tiny ASX share. The AML3D share price is rocketing after leading marine and industrial classification society DNV gave the company its tick of approval.
The body has granted AML3D's proprietary WAM advanced manufacturing technology an additive manufacturing facility accreditation.
The approval demonstrates the company's WAM technology meets integrity and quality standards for critical components in the oil, gas, and marine industries.
The accreditation allows AML3D to produce parts for critical operations in such industries and issue 'class certification' for components.
That gives the company a significant competitive advantage. It makes it the only wire-feed manufacturer endorsed to supply such high-value parts to DNV's global customer base. As such, it expands the company's range of potential customers across various industries.
AML3D managing director Andrew Sales commented on the news driving the ASX share higher today:
DNV facility accreditation allows us further access into the marine markets for high value essential components.
DNV offers a broad range of customers including a heavy focus on oil and gas sector. [The sector is] a key growth target for AML3D.
This accreditation is a game changer for us.
