Titomic Partners with Triton to Enter $60B US Dept. of Defense Sector
Melbourne, Australia 30th March 2020: Australian industrial scale metal additive manufacturing company, Titomic Limited (ASX:TTT) (“Titomic” or “Company”), has entered into a strategic partnership with the US-based global product development and technology company Triton Systems Inc (“Triton”) to implement Titomic’s Kinetic Fusion® (TKF) capabilities for validation through R&D projects with the US Department of Defense (DoD).
The two companies have signed a strategic agreement which leverages Triton’s extensive access to US Government DoD and sector expertise with Titomic’s TKF technology as applied to DoD’s mission to develop innovative products and solutions for adoption in its platforms.
Established in 1992, Triton Systems has become one of the most successful US research and product development companies, introducing many products used by the defence and health care sectors, and creating USD$3.8 billion in shareholder value via four public offerings on NASDAQ and the ASX and 23 technology merger and acquisition deals.
Triton specialises in bringing specific products to a validation stage where DoD approval leads to product manufacturing. In this case, the focus will be to enable products manufactured with Titomic’s TKF technology to meet stringent military requirements, including performance in temperature extremes, robustness, and durability under very demanding operating environments. Triton’s strategic partnership with Titomic will fill an important performance gap for US DoD industrial-scale additive manufacturing and fusion of dissimilar metals. Current metal 3D printing production processes and materials have not been able to satisfy the requirements of DoD for certain mission critical applications.
As a part of the Defense Industrial Base, Triton develops and delivers critical solutions to address complex challenges that support the DoD through applied research and development, including the design, development and supply of products, subsystems, and components to meet US military requirements. The products and services delivered are essential to national security for the DoD, major defence prime government contractors, and related applications, such as the Department of Homeland Security (DHS).
A primary goal of this partnership is for the companies to jointly apply the unique capabilities of Titomic’s TKF industrial scale metal additive manufacturing systems to the next generation of materials for the US DoD. These materials will combine the flexibility of the additive process with the “engineered properties” of dissimilar mixtures, delivered at a high rate of material deposition.
Six specific areas of collaboration form this agreement:
Mr. Jeff Lang, Titomic Managing Director, said:
“The signing of this Agreement with Triton Systems, a successful US technology venture company, represents a strong pathway to explore commercial opportunities within the US Department of Defense.”
Mr. David Model, Chief Operating Officer of Triton Systems, added:
“We are excited to bring Titomic’s cutting edge cold spray technology to our DoD customer base. The defence community has been looking for the capability to quickly and flexibly manufacture large scale parts using additive technology. We believe the TKF solution will allow Triton and Titomic to closely work with our DoD end users and prime partners to facilitate the qualification and adoption of critical additively manufactured parts for military platforms.”
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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.
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