Titomic Limited (ASX: TTT), a cold spray additive manufacturing technology company with primary application in aerospace and defense, has received purchase orders from Australian-based companies for four separate D523 low-pressure cold spray systems, totaling $314,900 in sales.
The systems have been sold to four businesses in the engine remanufacturing and rail transport sectors, all of which are looking to add in-house capability for ongoing component services and repairs to maximize equipment uptime while minimizing maintenance costs.
The sale of these D523 systems follows the sale of one D523 to the Company’s Authorised Service Provider, Brauntell, and another D523 to oil & gas engineering company, DNC Coatings, in the Asia Pacific region, and further extends Titomic’s capability in the coatings and repairs market.
Demand is growing for Titomic’s D523, as the “low cost” system allows users within a broad range of industries, including mining, oil and gas, transport, and aerospace, to rapidly restore parts and equipment. The increasing adoption of the Titomic D523 system in Australia highlights that Titomic’s clear focus on Coatings & Repairs as a strategic growth area will continue to pay dividends.
“The sale of these four D523 systems into the Australian transport industry expands the reach and highlights the universal need for the in-the-field servicing capability provided by these systems,” commented Herbert Koeck, Managing Director of Titomic. “The D523 system’s capability of making parts, repairing damaged or corroded parts, and general maintenance on-site in a quick turnaround time, ultimately leads to higher profitability for users and secures their supply chains.”
In addition to Titomic’s high-pressure cold spray technology – Titomic Kinetic Fusion – the D523 low-pressure System extends Titomic’s product line, adding versatility and expanding Titomic’s offering within the repairs and coatings market. Globally, the cost to remediate the effects of corrosion is $276 billion annually, spanning oil & gas, mining, infrastructure & transportation, and defense. As such, the repairs and coatings markets remain a strong focus for Titomic’s commercial expansion.
As recently as last May, the company also closed the sale of the first Titomic D523 System into Asia Pacific. The System had been sold to D&C Coating in Singapore – a surface engineering and repair specialist servicing the oil & gas industry.
“The sales of the D523 systems follow on from the Dycomet acquisition in December last year, enabling Titomic to be the only global supplier of low, medium, and high-pressure cold spray systems,” Herbert Koeck continued. “With this ability, Titomic can partner with businesses across multiple regions in the engine remanufacturing and rail transport sectors by offering technology that compliments those existing manufacturers.
“These sales further build upon the Company’s diversified revenue strategy, which includes the sale of Titomic Kinetic Fusion systems for research and development purposes, joint ventures and sales from consumables, machine solutions in key sectors such as defense and aerospace, and provision of cold spray systems for repair and maintenance.
“These D523 sales also validate our market orientation, as we’re beginning to fulfill the strong and growing demand for efficient and effective repairs and servicing – a need that has long existed in the market. These four system sales prove that we’re building and growing our commercial network, which we expect will lead to exponential sales growth.”