Titomic Ltd.
Loading...

Titomic Enters Joint Venture with Neos International

June 8, 2022

Titomic Secures New U.S. Orders Across Strategic Aerospace, Defense, Energy and Industrial Markets

HUNTSVILLE, AL – Titomic Limited (ASX: TTT) (“Titomic” or the “Company”), an advanced manufacturing company delivering high-performance products and sustainment services for aerospace, defense, energy, and industrial markets, is pleased to announce that it has received new purchase orders from major U.S. defense primes and energy companies over the past two weeks with a combined value exceeding A$750,000.

The U.S. orders have been received from major aerospace prime contractors and a leading company in the energy sector spanning several of Titomic’s highest-priority markets, including:

  • Military and commercial space;
  • Commercial and military aircraft; and
  • Oil & gas.

The significance of the orders extends beyond their initial value, further validating Titomic’s strategy to focus its proprietary cold spray and Titomic Kinetic Fusion™ capabilities on mission-critical applications in markets where speed, material performance, supply-chain resilience, and advanced manufacturing capability are increasingly important.

The new orders provide both near-term revenue and further evidence of customer progression from initial engagement and qualification toward repeat and potentially larger-scale opportunities.

Importantly, the orders further expand Titomic’s relationships and manufacturing credentials with major prime contractors and strategic customers in sectors in the U.S central to its long-term growth strategy.

Titomic Managing Director and CEO Jim Simpson said:

“These orders are important not because they represent more than A$750,000 in new business, but because of where they are coming from and what they signal for Titomic’s future. Over the past several years, we have deliberately focused the Company on markets where our technology can solve meaningful manufacturing and sustainment challenges — aerospace, defense, space and energy. Receiving four U.S. orders in a two-week period across those exact markets is a strong indication that this strategy is gaining momentum. We are increasingly moving from demonstrating what our technology can do to delivering solutions or major customers. While individual orders are important, the broader trend is what gives us confidence. Titomic’s sizeable and growing sales pipeline is increasingly converting into contracted work across the markets we have deliberately targeted.”

Building a Foundation for Repeat Orders and Expanded Production

Titomic’s commercial strategy is focused on securing initial customer applications that can establish technical and manufacturing credibility and create pathways toward qualification, repeat orders and larger production programs with significant recurring revenue.

The latest orders affirm this strategy across multiple end markets and demonstrate the increasing relevance and advantages of Titomic’s advanced manufacturing capabilities to both new production and sustainment requirements.

This announcement has been authorized for release by Titomic’s Board of Directors.

  • Establishment of the world’s first additive manufacturing facility to supply Invar components.
  • The agreement will result in the sale of a Titomic Kinetic Fusion (TKF) System by Titomic,
  • Expectation that further JVs will eventuate in the defence sectors, in line with the Company’s

Titomic Limited (ASX: TTT) (“Titomic” or “Company”) the global Cold Spray Additive Manufacturing technology company with primary application in Aerospace and Defence, has signed a Joint Venture agreement with Nèos International (”Nèos”), previously Hockley Pattern – to create
an advanced joint-manufacturing facility in Halesowen, England.

The Joint Venture will see Nèos and Titomic establish the world’s first large scale additive manufacturing facility to manufacture and sell Invar36 faceplates and additively manufactured metal product solutions for customers in the United Kingdom and Europe for the aerospace, space, defence, automotive, and nuclear industries.

To establish the facility, Titomic will sell the Nèos Titomic Joint Venture a Titomic Kinetic Fusion (TKF) 2200 – a bespoke and purpose-engineered Titomic Kinetic Fusion System – at an estimated sale price of AUD2.4 million, pending final specification. The TKF 2200 will use supersonic cold gas dynamic spray of metal powders to create industrial-scale metal components. The facility will leverage TKF’s advanced manufacturing and Nèos’ tooling technologies to provide a world-leading tooling manufacturing capability. In addition to Nèos’ capabilities and its decades
of expertise, Titomic has proven that its TKF technology enables manufacturing benefits for Invar
tooling; an industry worth USD500 million per annum1.

Invar tooling-specific Titomic Kinetic Fusion benefits include:
• Additive manufacture, rather than subtractive manufacture of tooling from billet, reducing
material waste by 80 per cent,
• Repair of existing tools, significantly mitigating maintenance and replacement costs,
• Reduced porosity compared to tooling manufactured by casting, increasing product lifespan,
• Improved lead times.

This Joint Venture further solidifies Titomic’s technology as commercially competitive and demonstrates the strength and success of our go-to-market strategy, with joint ventures remaining one of Titomic’s key commercial focuses for accelerating growth within key markets, including
defence and aerospace.

1. Stratview Research. (2021). Invar Tooling Market Size, Share, Trend, Forecast, Competitive Analysis,
and Growth Opportunity: 2021-2026.

INVESTOR CONTACT

Geoff Hollis
Titomic
Chief Financial Officer
P: +61 438 168 008
E: [email protected]

MEDIA CONTACT

Dr. Patti Dare
Titomic
President, USA
P: +1 408 306 4975
E: [email protected]

Related News

1 + 3 =

Titomic
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.