- Collaboration agreement signed with well known North American bicycle company
- Agreement establishes a strategic alliance for Titomic to contribute to the development of a high performance Titanium bicycle concept
- Initial 6-month term to design a new concept to evaluate the Titomic technology
Melbourne, Australia, 21 December, 2017: Australian metal additive manufacturing company, Titomic Limited (ASX: TTT) (“Titomic” or “the Company”) is pleased to announce it has entered into a collaborative agreement (“Agreement”) with a world leading bicycle brand to contribute to the
development of a high performance Titanium bicycle concept. The Agreement starts with immediate effect.
The Agreement establishes a strategic alliance with the intention to incorporate Titomic Kinetic Fusion additive manufacturing into a global bicycle brand that will provide the bicycle company with a state of the art product.
This first phase of the Agreement will utilise Titomic’s advanced manufacturing process to design a new concept that will achieve the bike company’s target performance characteristics.
Once the first phase is complete, Titomic will begin the fabrication phase, which will be conducted at Titomic’s Melbourne manufacturing facility.
The Agreement has an initial 6-month term until the parties enter into a further Manufacturing Agreement and/or Manufacturing Licence.
Commenting on the agreement Jeff Lang, CEO of Titomic said:
“We are very pleased to announce our collaborative agreement with one of the world’s most renowned bicycle companies. This is a very positive step to have a leading brand enabling validation of the Titomic Kinetic Fusion technology for our next stage of commercialisation.”
Forward looking statements
Certain statements made in this release are forward-looking statements and are based on Titomic’s current expectations, estimates and projections. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,”estimates,” “guidance” and similar expressions are intended to identify forward-looking statements. Although Titomic believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Titomic’s control, including those risks or uncertainties inherent in the process of both developing and commercialising technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Titomic will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.