- Titomic (TTT) signs a joint venture (JV) agreement with Neos International to create an advanced joint-manufacturing facility in Halesowen, England
- The JV will establish the world’s first large scale additive manufacturing facility to manufacture and sell Invar36 faceplates and additively manufactured metal product solutions to customers in the UK and Europe
- To establish the facility, Titomic will sell the JV its flagship Titomic Kinetic Fusion (TKF) 2200 for around $2.4 million, pending final specification
- According to Titomic, the facility will leverage TKF’s advanced manufacturing and Neos’ tooling technologies to provide a world-leading tooling manufacturing capability
- Shares in Titomic are up 19.4 per cent, trading at 21.5 cents as of 2:02 pm AEST
Additive manufacturing company Titomic (TTT) has signed a joint venture (JV) agreement with Neos International to create an advanced joint-manufacturing facility in Halesowen, England.
The JV will see the companies collaborate to establish the world’s first large scale additive manufacturing facility to manufacture and sell Invar36 faceplates and additively manufactured metal product solutions.
The faceplates and solutions will be sold to customers in the UK and Europe for the aerospace, space, defence, automotive and nuclear industries.
To establish the facility, Titomic will sell the JV its flagship Titomic Kinetic Fusion (TKF) 2200 for around $2.4 million, pending final specification.
The TKF 2200 uses a supersonic cold gas dynamic spray of metal powders to create industrial-scale metal components.
According to Titomic, the facility will leverage TKF’s advanced manufacturing and Neos’ tooling technologies to provide a world-leading tooling manufacturing capability.
Titomic Managing Director Herbert Koeck said it is the culmination of years of research and development, dedicated and focused commercial execution that has helped led the company to this point.
“Since late 2020, we’ve worked diligently alongside Neos to develop best-in-class technology – technology that will redefine the possibilities for tooling manufacture and cold spray.
“This is one of many partnerships we look to scale, as we establish ourselves as the only global supplier of low, medium and high-pressure cold spray systems, opening up new opportunities across the aerospace, space, defence, automotive, and nuclear industries.”
The JV is said to further solidify Titomic’s technology as commercially competitive and demonstrates the strength and success of its go-to-market strategy.
The company also said joint ventures are one of its key commercial focuses for accelerating growth within key markets.
Shares in Titomic were up 19.4 per cent, trading at 21.5 cents as of 2:02 pm AEST.