SINTX Armor Ships First Order and Prepares for Move to Utah
SALT LAKE CITY, Aug. 25, 2021 (GLOBE NEWSWIRE) -- SINTX Technologies, Inc. (www.sintx.com) (NASDAQ: SINT) (“SINTX” or the “Company”), an original equipment manufacturer of advanced ceramics, announced today that its newly created and wholly-owned subsidiary, SINTX Armor, will be located in Salt Lake City, Utah and that it has signed a 10-year lease on a facility to house development and manufacturing activities for SINTX Armor.
The building is located near the existing SINTX headquarters which will allow its teams to seamlessly collaborate and move between locations. SINTX plans to have the wholly-owned subsidiary up and running in Salt Lake City by the end of 2021 and has hired new employees to focus on developing the ceramic armor business. In the meantime, SINTX has already shipped its first prototype order of boron carbide torso plates to a company working to supply new lighter-weight body armor to an agency of the U.S. Government.
“The speed with which SINTX acquired manufacturing equipment that was sitting dormant, to the successful testing and shipping of the prototype order of boron carbide armor plates from Dayton, Ohio is truly impressive,” said Dr. Sonny Bal, President, and CEO, SINTX Technologies. “Credit goes to our operational and engineering teams for this remarkable achievement. The development of SINTX Armor will allow the company to gain a foothold into the U.S. Department of Defense and law enforcement segments and diversify our portfolio of advanced ceramic offerings. The next step of re-locating the development and manufacturing facilities to Salt Lake City will enable even quicker innovation and help establish business operations more efficiently.”
SINTX Armor will manufacture pure Boron Carbide, the highest strength ceramic armor available, as well as a special, lower-cost composite of Boron Carbide and Silicon Carbide. Both types of high-performance ceramics will be developed and manufactured for personnel, aircraft, and vehicle armor.
About SINTX Technologies, Inc.
SINTX Technologies develops and commercializes advanced ceramics for multiple markets. The core strength of SINTX Technologies is the manufacturing, research, and development of silicon nitride 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, SINTX Armor, or its material platforms, 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: before products can be commercialized for protective armor use they must undergo rigorous testing to establish effectiveness, such testing may be expensive to carry out and take longer than expected; the 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; while we are in preliminary discussions with potential collaborators; there is no assurance that a final agreement to collaborate will be reached in a timely manner or at all; we have no experience making or selling ceramic products for use as armor, accordingly, we may not be commercially successful in that market; 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 PR and Content
The Summit Group
abarry@summitslc.com
Released August 25, 2021