US patent will help Aussie 3D printer Titomic tackle North America
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3D printer Titomic, which last week enjoyed a spectacular ASX debut, has been granted a US patent for its technology.
Titomic (ASX:TTT) raised $6.5 million in an IPO to fund construction of one of the world’s biggest 3D metal printers in Melbourne and to further develop its “game-changing” manufacturing technology.
The technology can make complex parts without shape or size constraints up to 30 times faster than conventional hardware.
The US patent would allow Titomic to progress into the US market, chief executive Jeff Lang said.
“This US application has been pending since March 2013, so to date we’ve only slowly progressed any discussions with potential major US customers until our intellectual property was protected,” he said.
“We’re excited that this patent has now been granted in the US, enabling us to advance our initial discussions with potential US customers in what is one of the largest additive manufacturing markets in the world.”
The technology was developed in conjunction with the CSIRO and has already secured patents in Japan and New Zealand, with patent pending approval in Australia, China, Europe, Hong Kong and South Korea.
Titomic shares were up 1.5c to 44.5c on lunchtime trade on Tuesday.