AI assistant
TITOMIC LIMITED — Capital/Financing Update 2022
Oct 25, 2022
65963_rns_2022-10-25_77c65e2c-236d-4f5f-8817-96a72c43d870.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
October 26, 2022
==> picture [61 x 35] intentionally omitted <==
ASX Announcement
GENERAL BUSINESS
Titomic enters Asia’s marine industry with reseller Alliance Singapore.
ADDITIVE MANUFACTURING
Armaments
Ballistic Protection Structures Tooling Embedded Sensors
COATING & REPAIR
Metal Restoration Wear Resistance Corrosion Protection Conductive Coating Inductive Coating Radiation Shielding
Titomic Limited (ASX: TTT) (“Titomic” or “Company”) has further expanded into Asia by entering into a reseller agreement with Alliance Pte Ltd (“Alliance”). Alliance will market Titomic Kinetic Fusion cold spray systems as an official reseller within Malaysia and Singapore.
Revenue to Titomic from the reseller agreement will be based on machines sold and while it is not therefore possible to provide any revenue estimate, the Company does consider the reseller agreement as material. This is because Alliance will be a key partner in a new sector in Asia not currently serviced by Titomic. The reseller agreement is exclusive for Malaysia and Singapore for the initial term of one year, and is subject to normal termination provisions. If Alliance does not purchase a demonstration D523 machine from Titomic within 6 months, or agree an annual minimum purchase obligations target with Titomic within 45 days, then the reseller agreement becomes non-exclusive.
Alliance specialises in advanced surface engineering and repair-servicing across multiple industries, catering to a well-established clientele base across the Asia-Pacific region.
Alliance particularly focuses on the Singaporean marine industry, valued at $10 billion (ASMI, 2022). The industry employs some 100,000 workers and contributes 1% of Singapore’s gross domestic product. (Enterprise Singapore, 2022). Singapore is also home to a significant shipbuilding and maintenance market, with its fleet representing 6.7% of global shipping capacity (FMI, 2021).
Alliance is targeting the corrosion and coatings segment of the marine market. It’s expected that the D523’s capability to rapidly apply corrosion-resistant coatings and repair corrosion will offer Alliance valuable additional capability to provide quicker on-site repairs to the marine sector in Singapore and Malaysia.
The continued support received from new and existing reseller companies in Asia builds on recent reseller agreements in Australia, the US and Europe, and further supports Titomic’s revenue goals for the financial year, specifically surrounding expansion of revenue expected from low-pressure cold spray systems, such as the D523.
Herbert Koeck, Managing Director of Titomic, commented:
”I’m incredibly excited to have Alliance on board as a reseller. With great expertise in the marine sector and with coatings technologies, I’m confident that together we will capitalise on the vast opportunities set out before us.
Entering this market alongside Alliance holds tremendous potential for Titomic. As we continue to develop our cold spray metal coatings technologies, we will continue to capitalise on our competitive solutions for corrosion - a pervasive and costly issue.
Further, resellers such as Alliance are a crucial part of our efforts to succeed in scaling our sales in key regions. The engagement from Alliance means that we can seek out new applications for our cold spray technology, due to their expertise across a broad range of industries.
Titomic Limited Ground floor, 365 Ferntree Gully Road Mount Waverley, Victoria 3149, Australia
[email protected] | titomic.com
Page 1
ABN 77 602 793 644
==> picture [61 x 35] intentionally omitted <==
GENERAL BUSINESS
Asia currently is, and will continue to be, a rapidly growing region as it further industrialises. The industrialisation of Asia means that there will be demand for the coating and repair of equipment, and our D523’s will help in the region’s development.”
ADDITIVE MANUFACTURING
Armaments
Ballistic Protection Structures Tooling Embedded Sensors
This announcement has been authorised for release by the Board of Titomic Limited.
-
-
-
-
- END - - - - -
-
-
-
COATING & REPAIR
Metal Restoration Wear Resistance Corrosion Protection Conductive Coating Inductive Coating Radiation Shielding
INVESTOR CONTACT Adrian Mulcahy Automic Group P: +61 438 630 422 E: [email protected]
MEDIA ENQUIRIES
Tristan Everett Automic Group P: +61 403 789 096 E: [email protected]
ABOUT TITOMIC LIMITED
Titomic Limited (ASX: TTT) is an Australian public company specialising in large integrated solutions for industrialscale metal additive manufacturing, using its patented cold spray additive manufacturing (Cold Spray AM) technology. Titomic provides Cold Spray AM solutions, OEM production and R&D services to the global Aerospace, Defence, Shipbuilding, Oil & Gas, Mining and Automotive industries. Titomic also offers global sales and support for all of its Cold Spray AM activities from its Melbourne Head Office, as well as through local presence in the USA and Europe. Titomic delivers competitive advantages in metal additive manufacturing at every stage in the product value chain. For more information, please 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.
Titomic Limited Ground floor, 365 Ferntree Gully Road Mount Waverley, Victoria 3149, Australia
[email protected] | titomic.com
Page 2
ABN 77 602 793 644