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TITOMIC LIMITED — Capital/Financing Update 2023
Mar 27, 2023
65963_rns_2023-03-27_45a0f73e-f4bf-4972-9373-d50563f35cfc.pdf
Capital/Financing Update
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March 28, 2023
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ASX Announcement
GENERAL BUSINESS ADDITIVE MANUFACTURING
Armaments
Ballistic Protection Structures Tooling Embedded Sensors
COATING & REPAIR
Metal Restoration Wear Resistance Corrosion Protection Conductive Coating Inductive Coating Radiation Shielding
Titomic’s automated glass mould coating System successfully installed
Titomic Limited (ASX: TTT) (“Titomic” or “Company”) is pleased to announce that the glass mould coating System (System) delivered to Vetropack in Austria has passed its Site Acceptance Test.
During May 2022, Titomic Europe delivered its first glass mould coating System which was developed in collaboration with the the International Partners in Glass Research (IPGR) – a leading glass research organisation – for the coating of glass moulds. The System scans the moulds, and using AI software, produces a robotic program to automatically coat and repair moulds.
This breakthrough System for automated cold spray, which will significantly enhance the performance of moulds for the glass industry thereby improving productivity and safety, was successfully installed at Vetropack. The System was fully tested and approved for introduction into daily operation at Vetropack by TÜV Austria.
TÜV provides certifications and inspections for equipment across Europe. TÜV’s safety and certification protocols are considered to be extremely rigorous. Now, Titomic expects that subsequent inspections of comparative systems will be completed more quickly, allowing for accelerated sales and installations into the European and American glass manufacturing markets and other IPGR partner companies.
This System, is also expected to deliver ongoing revenue for consumables and metal powders of A$1.1 million over the next 3 years. The System is the first of its kind and this successful installation opens up opportunities at glass bottle manufacturing facilities globally, allowing Titomic to not only benefit from further sales of the Systems but also create an ongoing income stream with sales of consumables and metal powders.
Herbert Koeck, Managing Director of Titomic, commented:
“The successful delivery and installation of this first of its kind System for the coating of glass moulds continues to establish Titomic as a world leader in cold spray solutions. Not only have we clearly demonstrated the viability of cold spray as a genuine industrialised process, we have also, together with our partners, made a significant step forward in the development of automated Systems, improving conditions for operators as well as adding to the bottom line of our customers.”
This announcement has been authorised for release by the Board of Titomic Limited.
INVESTOR CONTACT - - - - - END - - - - - MEDIA ENQUIRIES Chris Healy Ben Andrews Titomic Titomic P: +61 429 988 083 P: +61 438 759 620 E: [email protected] E: [email protected]
Titomic Limited Ground floor, 365 Ferntree Gully Road Mount Waverley, Victoria 3149, Australia
[email protected] | titomic.com
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ABN 77 602 793 644
ABOUT TITOMIC LIMITED
GENERAL BUSINESS
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) 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
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ABN 77 602 793 644