Tech: Titomic clears key hurdle with $300K deal to 3D-print ‘intelligent armour’
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3D metals manufacturer Titomic (ASX: TTT) has passed another test as it positions itself to become a supplier for the global defence industry.
The company’s latest market update is in connection with a prototype agreement with defence equipment company TAUV Intelligent Armour Systems.
As part of the deal, Titomic had to apply its 3D additive manufacturing technique to construct five prototype Soldier System products, which it completed successfully.
The products are defined as any military equipment that can be carried, worn or deployed personally and which enhance both safety and lethality.
Managing director Jeff Lang said the project “realises Titomic Kinetic Fusion viability for commercial mass production and revenue opportunities”.
The update helped provide some respite to TTT’s recent share slide, with the stock rising 5 per cent to $1.82 after falling from around $2.60 since early May.
To meet its end of the $300k agreement, Titomic constructed the five prototypes using its Kinetic Fusion additive manufacturing (AM) process, and delivered them to TAUV for further testing.
Titomic said the demonstration was successful and was completed with a production timeframe of less than six months, “substantially faster than the defence industry R&D standard of 18-24 months”.
The company said the use of its AM technology, exclusively licensed from the CSIRO, leaves it well placed to obtain further production engagements in the $9.8 billion global defence industry.
“We have been impressed by Titomic’s very fast concept R&D feasibility process to bring our concept ideas to a commercial realisation,” TAUV CEO Nathan Kallisch said.
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