Drill bit innovator joins leading edge industries using 3D manufacturing systems
HOUSTON — (BUSINESS WIRE) — September 26, 2013 — BlueFire Equipment Corporation (OTCQB: BLFR) revealed the formation of its 3D or additive manufacturing initiative for the production of its proprietary polycrystalline diamond cutter (PDC) drill bits.
BlueFire’s development team is exploring the application of 3D methods for producing the company’s drill bits and is currently working with a Texas-based 3D scanning company to create a digitized model of the proprietary PDC drill bit for 3D integration. Using the 3D computer aided design (CAD) software SolidWorks, the team is developing ways to integrate BlueFire’s technology with game changing 3D technology.
Chairman and CEO of BlueFire Equipment Corporation William A. Blackwell said, “We are pleased to join the innovators who have recognized the huge potential of 3D manufacturing.” He added, “3D printing is now coming of age and producing highly complex metal components that equal or surpass the quality of cast parts.”
BlueFire is working to become a frontrunner in the field of downhole drilling tools employing additive manufacturing systems. Entities such as NASA, Boeing, General Electric and Ford are using this technology to manufacture highly engineered components. As reported in Bloomberg, Boeing has integrated 3D manufacturing into their regular supply chain processes, producing more than 20,000 printed parts for military applications.
Much of today’s manufacturing processes are based on “subtractive manufacturing,” which relies on the removal of material to create something. Additive manufacturing, or 3D printing, is a process by which three-dimensional objects in a diversity of shapes are manufactured by adding material 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.
3D printing uses a variety of different types of technologies. Stereolithography (SLA) focuses a beam of ultraviolet light onto a vat of liquid photocurable resin, drawing out the 3D model one layer at a time. Fused Deposition Modeling (FDM) produces an object by extruding a stream of melted material to form stacked layers. Selective Laser Sintering (SLS) uses a laser to fuse powdered materials layer by layer to form the object.
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.
Contact:
BlueFire Equipment Corporation
William Blackwell, 866-713-3700
