Repkon-Titomic Joint Venture Kicks-off with A$2.3m TKF 1000 Order

Expanding on recent contracts with Triton Systems, Boeing, and Airbus, TKF Systems will be pivotal in the manufacture of high-performance barrels.

Titomic Limited (ASX:ASX: TTT)

AUSTRALIA, July 18, 2024 /EINPresswire.com/ -- Titomic Limited (ASX: TTT) – Repkon-Titomic joint venture kicks-off with A$2.3m TKF 1000 order

Highlights:
• Expanding on recent advances with major defence players such as Triton Systems, Boeing, and Airbus, and now with Repkon Titomic purchasing a TKF 1000
• TKF Systems will be pivotal in the manufacture of high-performance barrels, enabling Titomic's TKF technology to be used in conjunction with Repkon’s flow-forming techniques

Titomic Limited (ASX: TTT) the world’s leading provider of cold spray solutions, is pleased to announce the sale of a TKF 1000 cold spray system, (the System), to the Repkon Titomic Production Technologies and Trade Co. Inc (Repkon Titomic) joint venture for a total of A$2.3 million.

Repkon Titomic was established to create the world’s first hybrid cold spray manufacturing facility (the Facility), located in Turkey. This Facility will integrate Titomic’s TKF technology with Repkon’s flow-forming techniques, transforming barrel manufacturing. The Facility will offer quicker production times, a broader range of materials with unique properties, lighter components, and enhanced performance.

The Titomic Kinetic Fusion^® (TKF) process will be pivotal to manufacturing high-performance barrels at the Facility, with the TKF 1000 being only the first TKF System expected to be installed by the joint venture. The TKF 1000 will replicate the previously validated processes from Titomic's Melbourne Bureau in the Facility, marking the next step towards commercialisation. Repkon Titomic will also leverage the TKF 1000 to showcase the benefits of the Titomic Kinetic Fusion^® process to external customers, opening new opportunities within the Repkon portfolio.

With the TKF 1000 already built in anticipation of this order, the System will be delivered to the Facility in the near term. This System is the second high-pressure TKF System sold into the defence sector and is set to further enhance Titomic’s growing position within this sector.

Titomic anticipates that a further system will be required by Repkon Titomic joint venture before commercialisation of the barrel manufacturing commences. It is expected that this system will be a bespoke TKF 3250R with pricing to be determined once the machine has been configured. The timing of the sale of this machine, and the subsequent commencement of commercial barrel manufacturing is still to be determined by the joint venture and will be resultant on the successful installation and validation of the TKF 1000 in the near term.

In addition to the further expected sale of a TKF System to the Repkon Titomic joint venture, in the future once commercialisation commences, Titomic will also sell consumables, including metal powders, to support the TKF Systems. Titomic will also receive a share in profits from the sale of barrels produced.

Pursuant to the terms of the joint venture, Titomic will contribute 49% from the sale of this System to the joint venture which will form the initial working capital.

Managing Director of Titomic, Herbert Koeck, commented:
"The sale of this System is a strong and important step for the Repkon Titomic joint venture toward producing high-performance barrels for the defence sector. This represents the first step towards production of barrel blanks and generating ongoing revenues from the joint venture. We anticipate the completed Facility will provide competitive and novel capabilities for the global defence sector and bolster Titomic’s position as a globally competitive manufacturing provider, expanding on Titomic’s reputation and agreements with major defence players such as Triton, BAE Systems, Boeing, and Airbus.”

This builds on Tuesday’s appointment of former Raytheon, Boeing, Lockheed, and Honeywell executive Dr Patricia Dare to lead Titomic's US Defence and Aerospace sales efforts.

Dr Dare brings a depth of knowledge with over 30 years of experience in the defence industry. With her experience in working for companies like Boeing, Raytheon, Lockheed, and others, she is perfectly suited to drive Titomic's increased sales efforts in the U.S. with a specific focus on the defence industry.

This engagement represents a further push by Titomic into the US Defence sector following recent advances, including Triton Systems (first TKF System sale to the US Defence sector), OMIC R&D (Oregon based commercial R&D sale) and various confidential defence sector engagements (totalling approximately A$3 million).

Dr Patricia Dare commented:
“I am thrilled to team up with Titomic at a time when cold spray is emerging as a viable manufacturing, coating, and repair technology for the Aerospace and Defence sector. The technology has an important role to play in further advancing our warfighting capabilities and protecting our Homeland and NATO allies.”

Managing Director of Titomic, Herbert Koeck, commented:
“I am delighted that Patricia has agreed to work with Titomic and spearhead our US Aerospace and Defence efforts. She has a proven track record in building critical relationships and delivering mission-critical projects to the Defence and Aerospace sector. Titomic has made great progress in developing its capabilities to manufacture high-value add components as well as deliver coating and repair solutions to the defence sector, enabling battle damage repair in-field and forward maintenance, enhancing battle readiness, and prolonging mission capability. With Dr Dare on our team, we are continuing to invest in our US operations and efforts to bring our innovative solutions to the broader Aerospace and Defence market.”

About Titomic Limited (ASX: TTT)
Titomic Limited (ASX: TTT) is an Australian public company specialising 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.

Sreenath Didugu
Reign Advisory
+61 431 758 320
sreenathd@reignadvisory.com