As we close the year 2020, we would like to share our progress from our efforts to create a potent new industry, leveraging our extensive investments developing amorphous metal technologies. These investments include more than 25 years of technology development sponsored by Liquidmetal Technologies, Inc. and its partners. We now have commercially viable alloys and casting technologies that compete against the highest performing materials available for strength, corrosion resistance and micron-level dimensional precision.
We have also satisfied the rigorous requirements top-tier companies have for qualifying key suppliers, providing highly scalable operations with stringent quality. Our primary supplier is Yihao Metals in Dongguan, China, who is certified to meet the demanding quality requirements for some of the world’s largest companies. In 2021, we expect growth in operations with domestic suppliers.
Our business has been affected by the global pandemic, slowing the pace of new product development from key customers, and changing trade agreements, affecting products imported from China. While important, these factors are not primary obstacles.
The market opportunity for our technologies is vastly greater than our current level of business. We continue to increase market awareness and support a steady flow of potential customers, developing hundreds of prototypes and bringing innovative products to market. However, Liquidmetal addresses a nascent market. What will drive market growth?
- Multiple, readily available manufacturing sources. Top tier customers are reluctant to rely on single source manufacturing or a technology that is tightly controlled.
- Fielded products that prove the performance benefits and reliability of amorphous metal technology.
The nature of our technology fits best with high performance, high volume applications, which are extremely competitive. The upside is tremendous: a single project can make a company. Liquidmetal’s market potential is large within our target markets.
We have addressed many of the commercial barriers we previously faced by refining our technology and restructuring operations. Thanks to our partnership with Yihao, we are collectively making progress fielding lighthouse products. Work continues, especially in China, to expand the availability of materials, molding machines and manufacturing operations in anticipation of rapidly growing demand.
We are looking forward to 2021 for an improved business climate, especially with international partners, and fully operational customers hungry to bring innovative products to market.
Happy Holidays and our best for the New Year.
Bruce Bromage, COO
