- Tao Commodities (TAO) has seen its share price spike after its subsidiary signed an agreement to develop titanium metal powders
- The subsidiary, Hyperion Metals & Technologies, will work with Blacksand Technology, using its hydrogen assisted magnesiothermic reduction technology
- Blacksand’s technology can produce titanium powders to a high standard while using less energy and being more cost-effective
- Coupled with Tao’s Titan Project in the U.S., the company believes it is well placed to supply cleaner, lower-cost sources of titanium metal to the region
- Shareholders appear pleased with the development, with TAO’s share price increasing by more than 30 per cent
- At the end of Monday’s trading session, shares in Tao Commodities were trading at 84 cents each, up 33.3 per cent
Tao Commodities (TAO) has seen its share price spike after its subsidiary signed an agreement to develop titanium metal powders.
Hyperion Metals & Technologies has signed a research agreement with Blacksand Technology, which owns the hydrogen assisted magnesiothermic reduction (HAMR) technology.
HAMR technology can produce titanium powders to a high standard while still using less energy and being more cost effective than traditional titanium metal and titanium additive manufacturing.
Under the agreement between Hyperion and Blacksand, the companies will investigate the scale-up and commercialisation of the HAMR technology to produce titanium metals powder.
The agreement also provides the Tao subsidiary with an option to enter into an
exclusive licence agreement with Blacksand relating to the HAMR technology
Commenting on the deal, TAO Executive Director Anastasios Arima said it places the company as a leader in supplying cleaner, lower-cost sources of titanium metal to the U.S.
“This is a pivotal moment for our company as we begin to address the need for cleaner, lower-cost U.S. domestic sources of titanium metal. The breakthrough HAMR technology, coupled with the company’s titanium deposit in Tennessee, has the potential to make TAO the leader in this field,” he stated.
“This technology adds another important dimension to our business in addition to solving the critical import dependence of the U.S. titanium material market. We are pursuing a low-to-zero carbon strategy and we are fully committed to working with our suppliers and partners to achieve true net-zero by 2030,” he added.
TAO shareholders also appear pleased with the development, with the company’s share price increasing by more than 30 per cent during Monday’s trading session.
At the end of the day, shares in Tao Commodities were trading at 84 cents each, up 33.3 per cent.