Highlights

  • Metal Powder Works has received a purchase order worth approximately US$200,000, or around A$275,000, from Embassy Powdered Metals.
  • MPW shares were trading at AUD 1.81, up 6.47% during the afternoon Trading session on 24 August 2026.
  • The order is the company’s largest to date and its first sale into the copper infiltration segment of the press-and-sinter market.
  • Delivery of the initial Embassy order is scheduled before the end of 2026.
  • MPW is accelerating its installed DirectPowder capacity target of around 800 tonnes annually to the first half of 2027.

Metal Powder Works (ASX:MPW) has secured its largest commercial order to date, receiving a purchase order worth approximately US$200,000, or around A$275,000, from Embassy Powdered Metals for pure copper powder. The transaction also marks MPW’s first entry into the copper infiltration segment of the press-and-sinter market, broadening the company’s commercial exposure beyond its existing customer base.

Metal Powder Works shares were trading at AUD 1.81, up 6.47%, or AUD 0.11, during the afternoon trading session on 24 August 2026. The stock remained down 43.44%, or AUD 1.39, over the past year.

MPW manufactures specialty metal powders for additive Manufacturing and other industrial applications from its production base in Pittsburgh, United States. Its proprietary DirectPowder process converts metal bar stock into specification-grade powder without melting.

Embassy Order Opens a New Commercial Segment

Embassy Powdered Metals will use MPW’s pure copper powder in copper infiltration applications.

Copper infiltration is a powder metallurgy process used to improve the density, strength and dimensional precision of press-and-sinter components.

For MPW, the significance of the order extends beyond its value because it represents the company’s first commercial sale into this part of the broader press-and-sinter market.

The initial order is scheduled for delivery before the end of 2026.

MPW said further orders are anticipated as Embassy scales production, although no follow-on orders have yet been placed.

That distinction remains important because the latest announcement covers only the current US$200,000 purchase order rather than any future Volume commitment.

Largest Order Arrives as Capacity Plan Accelerates

The new contract follows MPW’s earlier decision to accelerate its manufacturing capacity expansion.

The company has brought forward its target of approximately 800 tonnes of installed annual DirectPowder capacity from 2028 to the first half of 2027.

Management views the Embassy order as an early example of new commercial Demand emerging alongside the capacity build-out.

The expansion is intended to give MPW additional capability to service larger orders and enter adjacent applications across powder metallurgy and additive manufacturing.

MPW said its distributed production model is designed to provide redundancy and shorten customer lead times compared with more centralised powder production models.

DirectPowder Supports Broader Materials Offering

MPW’s DirectPowder process is a patented non-thermal production system.

Rather than melting feedstock, the process converts bar stock directly into metal powder.

The company says this approach is designed to improve yield, flexibility and production economics.

To date, MPW has produced more than 30 specification-grade metals and alloys covering aluminium, copper, titanium and specialty material families.

The Embassy contract adds another commercial use case for the platform, this time within copper infiltration rather than solely additive manufacturing applications.

Management Sees Order as Evidence of Broader Demand

Founder and Managing Director John Barnes said the order reflects the company’s strategy of increasing capacity ahead of expected commercial demand.

He highlighted two elements of the contract: its size relative to MPW’s previous orders and the fact that it introduces the company to a new segment of the press-and-sinter market.

Barnes also said MPW expects the Embassy relationship to continue, although the company acknowledged that future purchase orders remain uncommitted.

Management expects similar opportunities to emerge as additional capacity comes online and customers become more familiar with the DirectPowder platform.

Commercial Opportunity Extends Beyond Additive Manufacturing

Metal Powder Works has historically positioned its technology across additive manufacturing and advanced industrial applications.

The Embassy order demonstrates that the company is also seeking opportunities in more traditional powder metallurgy processes.

Copper infiltration can be used where manufacturers want to improve the properties of press-and-sinter components without changing the overall component manufacturing route.

By supplying pure copper powder into this process, MPW is adding another end market for its production platform.

The company expects to target further adjacent segments within powder metallurgy as its installed capacity increases.

What Investors May Be Watching

The Embassy order gives MPW a larger commercial reference point and introduces its powder technology to another industrial application.

The key near-term milestone is successful delivery of the initial order before the end of 2026.

Investors may also watch whether anticipated follow-on demand from Embassy turns into additional purchase orders and whether other customers emerge in copper infiltration or related press-and-sinter applications.

Capacity execution will remain another important factor. MPW is targeting around 800 tonnes of installed annual DirectPowder capacity in the first half of 2027, earlier than originally planned.

The company has cautioned that installed capacity does not represent a forecast of production or sales, while anticipated customer demand does not constitute contracted orders. The pace at which expanded capacity converts into recurring commercial volumes will therefore be a central issue as the company progresses its growth strategy.