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Titomic (ASX:TTT) - CEO, Herbert Koeck
CEO, Herbert Koeck
Source: ConsumerIT
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  • Titomic (TTT) is granted $2.32 million from the Federal Government to manufacture space vehicle demonstrator parts
  • The Federal Government Modern Manufacturing Initiative grant has been awarded for Titomic to manufacture low carbon emission titanium space vehicle demonstrator parts for the Australian space sector and export markets
  • The grant is part of a total project expenditure of $4.65 million that will see Titomic, along with its partners, manufacture and test its Kinetic Fusion cold spray technology
  • Titomic’s shares are up 2.56 per cent to trade at 40 cents

Titomic (TTT) has been granted more than $2 million from the Federal Government to manufacture space vehicle demonstrator parts.

The company was awarded $2.32 million was awarded from the Federal Government Modern Manufacturing Initiative grant to manufacture and commercialise low carbon emission titanium space vehicle demonstrator parts for the Australian space sector and export markets.

The grant is part of a total project expenditure of $4.65 million that will give Titomic the chance to use its Kinetic Fusion cold spray technology to build and commercialise space vehicle parts using green titanium, heterogeneous material blends, and high-performance coatings for radiation shielding and hypersonic protection.

Titomic, along with the Swinburne University of Technology and the Australian Nuclear Science and Technology Organisation (ANSTO), will conduct testing and validation of its demonstrator parts.

The grant project runs until December 2022 and will offer Swinburne University students direct access to Titomic’s technology. Titomic will then team up with commercial partners to provide specific application use cases and establish performance, testing and acceptance requirements for the technologies.

CEO of Titomic, Herbert Koeck said the grant proves the company’s ability to integrate its cold spray into partner supply chains.

“This project allows us to show our unique capability to use industrial scale additive manufacturing to create world leading ‘low carbon footprint’ green titanium and high-performance coatings for satellites and space vehicles,” Mr Koeck said.

“Our supply of a TKF1000 System to Swinburne University of Technology with its Industry 4.0 additive manufacturing platform to drive high-value technological and material developments, will also accelerate space and manufacturing sector growth in Australia, creating high-value jobs, and attracting local investment.”  

Titomic’s shares were up 2.56 per cent to trade at 40 cents at 11:06 am AEST.

TTT by the numbers
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