From Bruce Bromage, COO
Paul Hauck brought a wealth of experience to building Liquidmetal’s Sales and Marketing programs. Under his leadership, we gained the service of 28 of the very best Manufacturing Sales Representatives (MSRs) supported by a skilled Sales and Marketing team. In support, our company has committed significant resources to characterize material properties, develop design guides, and publish substantive technical and promotional content. After four years with Liquidmetal, Paul is moving back to the Pacific Northwest to pursue a new venture. We wish him well.
One of Paul’s significant accomplishments has been to get the production flywheel moving. He has established Medical-grade amorphous metal molding (AMM) development projects with leading medical device companies that are on track for volume production. The market potential for these parts is significant. We have also had success in introducing our new Industrial-grade AMM solutions, with early customer prototypes and development projects. Metal injection molding (MIM) production has begun, with first customer shipments scheduled for late August. Scaling production remains a priority.
We have already found promising candidates focused on growing revenue, our top priority, to lead Sales and Marketing. While we seek Paul’s replacement, I will work directly with our MSRs to drive key customer opportunities and to promote our newer MIM and industrial-grade sales programs. All supported by our world-class scientific and engineering staff.
On a separate topic, several investors have asked for an update on the ongoing power upgrade to our Lake Forest facility. Our 4,000 A service request proved to be a challenge for our electricity provider, who requires a new point of connection to be established. The project is progressing, and we expect to have a firm completion date soon. For the near term, our AMM and MIM molding systems are not impacted, nor are any of our secondary processing equipment, including CNC machines and waterjet. We can work around the impact on MIM de-binding and sintering processes for now, but we need the power upgrade to support MIM operations fully, as well as planned additions of AMM and MIM machines.
Also, thank you for supporting our efforts to manage investor communications – we appreciate the keen interest our company enjoys. As is the case for all public companies, we rely on press releases to disclose material information. This blog allows us to address requests for clarifications and updates uniformly.