Consider the following statements regarding ISRO's recent achievement in 3D-printed PS4 rocket engine technology:

1. The new PS4 engine reduces the production time by 60% and saves 97% of raw materials compared to the conventional engine manufacturing process.
2. The conventional PS4 engine, used in the PSLV's fourth stage, employs a thrust of 7.33 kN in vacuum conditions and uses Nitrogen Tetroxide and Mono Methyl Hydrazine as propellants.
3. The redesigned engine was manufactured using the Laser Powder Bed Fusion technique, significantly reducing the number of parts from 14 to just one, thereby eliminating the need for any weld joints.