AI assistant
TITOMIC LIMITED — Capital/Financing Update 2017
Dec 20, 2017
65963_rns_2017-12-20_7c567758-b045-4a48-adae-d07906d78781.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [99 x 84] intentionally omitted <==
Titomic signs collaborative agreement with multi-national bicycle company
Key Highlight:
-
Collaboration agreement signed with well known North American bicycle company
-
Agreement establishes a strategic alliance for Titomic to contribute to the development of a high performance Titanium bicycle concept
-
Initial 6-month term to design a new concept to evaluate the Titomic technology
Melbourne, Australia, 21 December, 2017: Australian metal additive manufacturing company, Titomic Limited (ASX: TTT) (“Titomic” or “the Company”) is pleased to announce it has entered into a collaborative agreement (“Agreement”) with a world leading bicycle brand to contribute to the development of a high performance Titanium bicycle concept. The Agreement starts with immediate effect.
The Agreement establishes a strategic alliance with the intention to incorporate Titomic Kinetic Fusion additive manufacturing into a global bicycle brand that will provide the bicycle company with a state of the art product.
This first phase of the Agreement will utilise Titomic’s advanced manufacturing process to design a new concept that will achieve the bike company’s target performance characteristics.
Once the first phase is complete, Titomic will begin the fabrication phase, which will be conducted at Titomic’s Melbourne manufacturing facility.
The Agreement has an initial 6-month term until the parties enter into a further Manufacturing Agreement and/or Manufacturing Licence.
Commenting on the agreement Jeff Lang, CEO of Titomic said:
“We are very pleased to announce our collaborative agreement with one of the world’s most renowned bicycle companies. This is a very positive step to have a leading brand enabling validation of the Titomic Kinetic Fusion technology for our next stage of commercialisation.”
-
-
- END - - -
-
TITOMIC LIMITED ACN 602 793 644
Level 3, 62 Lygon Street, Carlton South, VIC 3053 Phone: + 61 (0)3 9824 5254 | Fax : + 61 (0)3 9822 7735 | [email protected] | www.titomic.com
Page 1 of 2
==> picture [39 x 34] intentionally omitted <==
Contacts:
Peter Vaughan Mich Mak Company Secretary & CFO Media Officer +61 (0)3 9824 5254 +61 (0) 422 610 308 [email protected] [email protected]
About Titomic:
Titomic (ASX:TTT) is headquartered in Melbourne, Australia. The company overcomes limitations of previous additive manufacturing (3D printing) for metals to manufacture complex parts without shape or size constraints. Titomic offers design and manufacturing methods to enable speed-to-market, superior products at lower production costs and using less resources for a more sustainable future.
Titomic additive manufacturing machines that can customise build size to customer requirements offer additive manufacturing advantages at industrial scale. Multiple robots can be utilised to build larger parts, competing with traditional manufacturing solutions for industries such as aerospace and defence, sporting goods, medical, automotive, industrial equipment, construction and marine.
Other benefits of the Titomic Kinetic Fusion technology include:
-
Joining dissimilar metals and composites for engineered properties in a structure
-
Stronger structures without welding, folding or bending
-
Reduced time to market; no tooling, industry-leading production speeds
Clients will be offered a licence to manufacture via the Titomic Kinetic Fusion technology. Titomic’s revenue model will also provide clients with R&D prototyping services, Titomic equipment sales, powder and consumables supply, equipment service and maintenance. For more information visit: www.titomic.com
Forward-looking statements:
Certain statements made in this release are forward-looking statements and are based on Titomic’s current expectations, estimates and projections. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “guidance” and similar expressions are intended to identify forward-looking statements. Although Titomic believes the forward-looking statements are based on reasonable assumptions, they are subject to certain risks and uncertainties, some of which are beyond Titomic’s control, including those risks or uncertainties inherent in the process of both developing and commercialising technology. As a result, actual results could materially differ from those expressed or forecasted in the forward-looking statements. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Titomic will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this release except as required by law or by any appropriate regulatory authority.
Page 2 of 2