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- 3D printing company Titomic (TTT) has signed a memorandum of understanding (MOU) with the Tawazun Strategic Development Fund
- The purpose of the MOU is to assess the potential of a joint venture (JV) agreement between the two parties
- The proposed JV would establish a local manufacturing line to produce advanced 3D printing technologies for industrial-scale products and components
- The products would be made for various industries in the United Arab Emirates, including aerospace, defence, oil and gas, and mining
- Titomic is up 11.61 per cent and trading at 62 cents per share
3D printing company Titomic (TTT) has signed a memorandum of understanding (MOU) with the Tawazun Strategic Development Fund.
Based in the United Arab Emirates, the fund was developed by the Tawazun Economic Council, which drives economic growth and value through global and local partnerships. In particular, the fund is designed to encourage technological innovation through research and development in the defence and security sectors.
The MOU was signed by Titomic’s Chairman, Dr Andreas Schwer, and Tawazun SDF’s Director of Ventures Investments, Mohamed Musabah Al Mazrouei.
The purpose of the MOU is to assess the potential of a joint venture (JV) agreement between the two parties. The proposed joint venture would establish a local manufacturing line, in order to produce advanced 3D printing technologies for industrial-scale products and components.
If constructed, the additive 3D printing and manufacturing plant would use next generation industrial methods and industrial-scale automated production. In order to ensure suitability for a range of industry applications, the plant will also use high-performance metal alloys, such as titanium.
The proposed joint venture would provide industrial-scale 3D printing capability for the surrounding region, whilst also acting as the distributor and after-sale services centre for Titomic’s products.
The JV’s resulting products and components would be made for a variety of industries and applications in the United Arab Emirates. These include aerospace, defence, oil and gas, and mining.
Titomic is up 11.61 per cent and trading at 62 cents per share at 11:37 am AEDT.
