21 September 2017 – Melbourne, Australia:
Titomic Limited (ASX:TTT) will list on the Australian Securities Exchange after raising $6.5 million via a fully underwritten Initial Public Offering.
An Australian additive manufacturing specialist, Titomic was established to deliver industrial scale products manufacturing using proprietary Kinetic Fusion process and enable companies to leverage advanced materials.
Titomic Chairman Philip Vafiadis said the company is building one of the largest metal additive manufacturing machines in the world at its manufacturing facility in Melbourne.
“At 40.5 cubic metres build area, Titomic will house one of the world’s largest metal additive manufacturing machines in the world, with a commercial production speeds of up to 45 kg per hour,” Mr Vafiadis said.
Titomic worked with CSIRO to develop a technology that applies cold-gas dynamic spraying of titanium or titanium alloy particles onto a scaffold to produce a load-bearing structure. The company has exclusive rights to commercialise the proprietary and patented process.
The technology is being marketed by Titomic as part of its Titomic Kinetic Fusion process that sprays Titanium metal powder at supersonic speeds, 1.5 to 3 times the speed of sound, causing the particles to impact and bond with the scaffold material.
This unique process mitigates oxidisation issues and size limitations associated with laser additive manufacturing processes. In addition to the exclusive rights to commercialise a patented process of producing a load-bearing structure, Mr Vafiadis said Titomic has advantages over traditional forms of manufacturing (not only 3d printing) for large parts made of titanium and titanium alloys. Titomic has validated these claims with extensive research on a titanium bicycle frame as an example of the technology’s capabilities.
“The Titomic process is fast - for example, a single Titomic production cell has capacity to manufacture two bicycle frames per hour at a much lower cost and approximately four times faster than a highly-qualified human titanium welder and finisher,” he said “Our technology holds outstanding potential for commercialisation across various applications and we thank our new and existing shareholders for their support as we aim to bring the technology to a wider market.”
Head of CSIRO’s High Performance Metal Industries Research Program, Dr Leon Prentice, said he was pleased to see the licensee proceed to market. “We look forward to a continued relationship with Titomic and working with other industry partners to help them transition to advanced manufacturing,” he said.”
The funds from IPO will enable Titomic to complete commissioning of the Melbourne facility, co-develop parts production with clients and and build sales capacity of Titomic systems.
Melbourne-based PAC Partners is lead manager and underwriter to the IPO. As part of the IPO, Titomic welcomes several key investors to the register including Alium Capital Management.
The company will issue 32.5 million shares at a price of $0.20/share under the IPO, giving the company a market capitalisation of approximately $22.6 million upon listing. It is expected to commence trading under the code TTT on Thursday, 21 September 2017.
Titomic (ASX:TTT) is headquartered in Melbourne, Australia. The company overcomes the limitations of additive manufacturing (3D printing) for metals to produce complex parts without shape or size constraints. Titomic offers design and manufacturing to enable speed-to-market of superior products at lower costs using less resources for a sustainable future.
Titomic's customisable systems offer 3D printing advantages at industrial scale, competing with traditional manufacturing solutions for industries such as aerospace, defence, sporting goods, medical, automotive, industrial equipment, construction and marine. Benefits of Titomic Kinetic Fusion technology include:
• Joining dissimilar metals and composites for engineered properties in a structure
• Stronger structures without welding, folding or bending
• Reduced time to market; less tooling, industry-leading production speeds
Clients will be offered a licence to manufacture via the Titomic Kinetic Fusion process. Titomic will also offer R&D prototyping services, Titomic equipment sales, powder and consumables supply, equipment service and maintenance. For more info: www.titomic.com
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Titomic and Titomic Kinetic Fusion are registered trademarks. All other trademarks belong to their respective owners.