- Titomic (TTT) spikes in early trade after landing a £1.2 million (A$2.28 million) purchase order for its TKF1000 3D printing system
- The order comes from UK-based engineering firm TWI and was funded by the Aerospace Technology Institute
- Titomic CEO Herbert Koeck says the purchase order highlights the importance of the TKF System as a manufacturing technology
- By using the TKF1000 system, TWI and its industry member partners could see a reduction in costs and downtimes, and a simplified supply chain
- Shares in Titomic are up 1.32 per cent and trading at 38.5 cents each at 12:11 pm AEST
Additive manufacturing specialist Titomic (TTT) is trading in the green after landing a £1.2 million (A$2.28 million) purchase order for a 3D printing device.
The company told investors today that UK-based engineering firm TWI had ordered a Titomic Kinetic Fusion (TKF) 1000 system, which will be shipped in May 2022.
Importantly, Titomic said the TWI purchase was funded by the Aerospace Technology Institute to form the basis of TWI’s Cold Spray Additive Manufacturing Project.
This TKF1000 system will help TWI and its industrial member partners develop and validate manufacturing opportunities under this major project and offer the partners a “unique competitive advantage” in the UK aerospace industry, according to Titomic.
Titomic CEO Herbert Koeck said the TWI purchase order was a “significant milestone” for the company.
“TWI is recognised as a leader in metals research for manufacturing applications and with its strong membership portfolio, this acquisition highlights the importance of the TKF System as a manufacturing technology,” Mr Koeck said.
The TKF1000 product is Titomic’s modular additive manufacturing — or 3D printing — system, designed to support low- to mid-size production.
According to Titomic, the system offers several advantages in the additive manufacturing industry based on its fusion-based approach to the technology.
Titomic said the UK aerospace sector would have access to a wide range of metals for printing with the potential to create large components in a short amount of time. The result is a potential reduction in costs and downtimes and a simplified supply chain.
TWI Section Manager Henry Begg said the company was excited to expand its cold spray capability with the new TKF1000 system.
“Having been active in cold spray research for the past 15 years, we will now be able to perform large and more complex fabrications and, working closely with Titomic and our wide industrial membership base, develop the potential revolutionary opportunities this technology brings.”
He said the TKF1000 system would bypass some of the challenges the industry has faced so far.
Shares in Titomic were up 1.32 per cent and trading at 38.5 cents each at 12:11 pm AEST.