MELBOURNE, Australia, Oct 18, 2023 – Titomic Limited (ASX: TTT) (“Titomic” or “Company”), a leading additive manufacturing company, is pleased to announce that it has been selected by the Airbus Group (Airbus) as the chosen supplier for cold spray additive manufacturing, repairs, and maintenance equipment.
As part of the agreement, Airbus has issued a purchase order for two Titomic Kinetic Fusion systems (“System” or “Systems”) for EUR 386,900 (AUD 645,000), subject to Airbus’ final configuration requirements.
Titomic will recognize the revenue for this sale in three stages – 50% of the revenue has been recognized upon receipt of the purchase order, with an additional 40% to be recognized before shipping the Systems, with the remaining 10% to be recognized after the successful completion of the Site Acceptance Testing.
One of the Systems, a D623 medium-pressure cold spray system, will be installed onsite at Airbus, enabling unique coatings and repairs capabilities. The second, larger System will be installed at Titomic’s European facility.
The Titomic-based System will facilitate the development of aerospace applications tailored to Airbus’ specific needs. As the chosen cold spray technology partner, Titomic will work with Airbus to develop and refine cold spray processes and equipment to meet the stringent requirements of the aerospace industry.
One significant outcome of this work is the inclusion of Titomic’s equipment and technology within Airbus maintenance protocols. As a result, all Airbus Maintenance, Repair, and Overhaul (MRO) facilities planning to utilize cold spray applications will be required to use Titomic equipment and technology, ensuring consistency and adherence to Airbus standards across its MRO operations. This recognition underscores the high quality and reliability of Titomic’s cold spray technology.
Herbert Koeck, Managing Director of Titomic, commented: “This is a significant development for us at Titomic and we are excited to embark on this strategic partnership with Airbus, further expanding our presence in the aerospace sector. This collaboration not only strengthens Titomic’s position as the global leader in cold spray technology, but also highlights the company’s commitment to providing cutting-edge solutions to the aerospace industry.
With demanding regulations and requirements, the aerospace market is difficult to enter. We are grateful to Airbus, our investors, and suppliers for supporting us in reaching this important milestone.”
About Titomic Limited
Titomic Limited (ASX: TTT) is an Australian public company specializing in large integrated solutions for industrial scale 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, visit www.titomic.com.
