BlueFire Increases Competitive Advantage With 3D Manufacturing
Additive manufacturing of BlueFire drill bits holds prospect of industry paradigm shift
HOUSTON--(BUSINESS WIRE)-- BlueFire Equipment Corporation (OTCQB: BLFR) announced today it is exploring additive or 3D manufacturing techniques for the production of its proprietary polycrystalline diamond cutter (PDC) drill bits. The process is expected to expand engineering capabilities and dramatically reduce costs.
BlueFire is joining the likes of major entities such as Boeing, NASA, General Electric and Ford, who have successfully begun incorporating 3D processes to manufacture highly engineered metal components.
Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell said, "Additive manufacturing will allow us to produce very complex parts in a cost-effective manner, marking a potential paradigm shift in drill bit manufacturing." He added, "We expect this highly advanced process will prove to be considerably faster and cheaper than existing cast methods and further establish BlueFire as an innovator in drill bit technology."
According to Terry Wohlers, leading authority on 3D printing, "Today, industrial additive systems are producing high grade metal parts with properties that match or exceed the properties of cast metal parts. In the future, we expect to see a greater variety of metal alloys available." He estimates the 3D market currently is valued at around $2.2 billion and predicts the industry will reach $6 billion worldwide by 2017.
Additive manufacturing, or 3D printing, is a proven technology currently being used to produce a wide variety of objects from consumer products to automotive parts. It is a process by which three-dimensional objects in a diversity of shapes are manufactured using digital models. Metallic, plastic, ceramic or composite materials can be employed using this process, which involves building the required object by adding successive layers of material to achieve the desired shape.
Details about BlueFire Equipment Corporation and information about obtaining quotes are available at www.bluefireequipment.com.
About BlueFire Equipment Corporation (OTCQB: BLFR)
BlueFire Equipment Corporation designs and manufactures proprietary drilling technologies for use in the exploration and production of oil and gas in the United States. It sells and leases various sizes of polycrystalline diamond cutter (PDC) drill bits to drilling contractors and oil and gas companies. BlueFire Equipment Corporation was founded in 2008 and is headquartered in Houston, Texas, where other major exploration and production companies have a presence, including ExxonMobil, BP and ConocoPhillips.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.
BlueFire Equipment Corporation
William Blackwell, 866-713-3700
KEYWORDS: United States North America Texas
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