Titomic just launched the world’s biggest 3D printer in Melbourne – here’s a look inside
3D printer Titomic today opened the world’s biggest and fastest metal 3D-printing facility in Melbourne.
Titomic was one of last year’s best-performing ASX floats. In September the 3D printer (ASX:TTT) raised $6.5 million in an IPO selling shares at 20c.
The stock is now trading at about $2.75 — more than ten times the issue price or a gain of almost 1300 per cent.
Titomic — which is now valued at $150 million — is targeting the market for so-called “metal additive manufacturing”.
The technology can make everything from aeroplane wings to submarine parts. Titomic CEO Jeff Lang says he’s had inquiries about making 60m rocket fuselages.
The machine can 3D-print and polish a bicycle frame in 35 minutes.
This GIF shows the machine printing the “C” in a metal “Titomic” sign:
Mr Lang told Stockhead they’re on track to meet revenue targets made in the IPO prospectus last year, which said they’d see first significant cashflow from the end of the third quarter of 2018.
He says they are negotiating with several large clients over machine sales.
Peter Teschner, who heads up Titomic’s bicycle division, said a six-month contract signed with a major bicycle company in December is to be extended. The bike maker is understood to be Trek.
Stockhead attended Wednesday’s opening of the 3D printing plant, which was co-developed with the CSIRO.
Here’s what we saw: