Titomic Limited (ASX: TTT) entered into a Memorandum of Understanding (MoU) with China’s largest manufacturer and exporter of titanium powder, Shaanxi Lasting Titanium Industry Co. Ltd.
The MoU will see Lasting Titanium supplying the ‘low-cost commercially pure titanium powder’ to Titomic. It provides a new price point titanium powder for Titomic Kinetic Fusion™ (TKF). As a result, Titomic’s customers will be enabled to go with Titomic’s other range of aerospace grade and mid-end titanium powders as a price point alternative.
The company stated that this irregular powder morphology is appropriate for industrial-scale additive manufacturing through TKF systems. However, this price point irregular powder cannot be utilized by other additive manufacturing processes.
Managing Director of Titomic, Mr. Jeff Lang stated that After this MoU, Titomic would have an exclusive supply of price point titanium powder in bulk. With its use in TKF systems, the company would be able to witness several commercial opportunities coming across the traditional titanium industry particularly in industrial-scale manufacturing.”
Titomic’s owned and developed Titomic Kinetic Fusion technology is a unique method of 3D printing for the manufacturing of the industrial-scale metal product. It utilizes both spherical and irregular morphology metal powders to produce high volume metal and complex shaped parts without any shape or size constraints.
Titomic’s diversity in metal powder range has opened more opportunities for it across the marine, building, automotive and oil& gas industries.
The company stated that Titomic’s customers are now well positioned to enhance value to current traditional manufacturing or to develop next-generation products with Titomic’s metal powder range.
Shaanxi Lasting Titanium Industry Co. Ltd: Based in Xi’An, China, Shaanxi Lasting Titanium is a leading producer and exporter of titanium in China. It is in the business of supplying titanium and titanium alloy to several industries including aerospace, automotive, defense and 3D printing, for over 20 years.
Titomic Limited: It is an Australia based industrial scale additive manufacturers. Titomic is into the additive production of metals and complex parts without any size or shape limitations. The company has developed unique metal 3D printing technology called Titomic Kinetic Fusion that manufactures industrial scale metal products, utilizing both spherical and irregular morphology metal powders.
Titomic’s securities got listed on Australian Securities Exchange in September 2017. Since its listing, TTT stock price has taken a massive leap of 380%. But, in today’s trading session, the stock price has plunged 0.463% to trade at $2.150 as at 20 December 2018.
Over the past 12-months, the stock has witnessed a positive performance change of 145.45% but, the stock price has slipped 11.84% in the past six months.