Titomic enjoys strong Australian Securities Exchange (ASX) debut
21st September, 2017
High-tech 3D metal printing manufacturer Titomic has made a stellar debut on the share market, more than doubling its market value during its first few hours of trade.
Titomic specialises in creating high strength titanium alloys to manufacture large-scale and complicated metal parts for industries including defence, aviation, automotive, medical and construction.
Shares in the Melbourne-based company hit the market at 11am AEST on Thursday and had climbed to 47 cents at 2.21pm AEST, up from an issue price of 20 cents.
The company has exclusive commercialisation rights to a technology co-developed with the CSIRO that allows high-speed, high capacity 3D-printing of parts using advanced titanium-based alloys.
Titomic chairman Philip Vafiadis says the $6.5 million raised by the IPO will help complete its Melbourne facility, set to house one of the largest 3D metal printers in the world.
Although not yet commercially applied, Mr Vafiadis said the titanium fusion process could be used to create wheelchairs, golf clubs and drone parts, or components for aircraft, naval vessels and land-based vehicles.
"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.
Digital robotics will be used in Titomic's facility to fully automate production, finish and polish titanium parts.
The 3D printing technology can also utilise other metals or ceramic-based materials to build load-bearing structures on an industrial scale and without shape or size constraints.
"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," Mr Vafiadis said.
View source version on Financial Review : http://www.afr.com/technology/titomic-enjoys-strong-asx-debut-20170921-gym0z5#ixzz4voOoULko