A timber framing company, friend of mine, in Maine made his own panel press using hydraulic rams and a electric pump.

He would purchase sheet of osb and foam sheets as well as the glue in 55 gal barrels. Basically a gorilla glue type of glue.

He would coat the osb and create a stack of panels and then press them to a specific amount of pressure for a certain amount of time and make his own insulated panels for his own frames.

These are not truly "SIPS" as they haven't been tested and qualified by an independent lab to say they are "structural" so they are called insulated panels, instead.

It can be done but it isn't something easy or cheap to do.