Titomic Limited (ASX: TTT) has teamed up with the world’s largest golf club manufacturer Callaway Golf Company to develop new products using Titomic’s kinetic fusion process.
US-based Callaway designs, manufactures, markets and sells gold equipment, accessories and life-style related products to more than 70 countries.
Under the 12-month collaboration agreement, Titomic’s advanced additive manufacturing capabilities and kinetic fusion technology will be used to create new products for the world golf market.
“This agreement establishes a strategic alliance with the intention of incorporating our Titomic kinetic fusion additive manufacturing process into the manufacturing of golfing accessories and will be carried out at our new state of the art Melbourne facility, which houses the world’s largest 3D metal printer,” Titomic chief executive officer and chief technology officer Jeff Lang said.
Titomic’s kinetic fusion process
Titomic’s kinetic fusion process involves cold-gas dynamic spraying of titanium or titanium alloy particles onto a thin scaffold. This forms the basis and shape of the product and affords it the benefits of one of the world’s highest performing metals.
Titanium metal is light-weight and offers superior corrosion resistance and is used in aerospace, medical, dental and other high-end industries.
Titomic’s fusion process works by bombarding solid phase material at supersonic speed without melting or vaporising it.
According to the company, when the titanium reaches critical speed, its particles undergo plastic deformation and create the coating.
In addition to its agreement with Callaway, Titomic has a collaborative partnership with Callidas Welding Solutions to incorporate Titomic’s kinetic fusion technology into Callidas’ rapid additive parts manufacturing to develop titanium-coated components for mining, oil and gas clients.
Titomic is also creating a plant to mass produce titanium bicycle frames for markets around the world.
Until now, titanium’s use in mass produced goods has been cost prohibitive due to the traditional energy intensive, time-consuming and costly method of manufacturing the metal.
Titomic’s kinetic fusion process bypasses this and offers an alternative avenue for incorporating the metal and its advantages into common products.
Today’s news follows Titomic’s A$12 million private placement which was heavily oversubscribed and completed yesterday. The placement resulted in Titomic issuing 9.6 million shares at A$1.25 each.
Funds from the placement will be used to establish a metal powder facility, secure more patents, expand research and development programs and develop a surface engineered 3D additive manufacturing production system.
“Since Titomic’s successful IPO in September 2017, the company has received unprecedented technical and sales enquiries for our industrial-scale additive manufacturing 3D printing capabilities from a number of industries ranging from aerospace and defence, to naval, industrial and sporting goods,” Mr Lang said.
“To capitalise on the high demand, we’ve actioned this capital raising, anchored by new and existing domestic and international institutions, as well as sophisticated and professional investors, to enable Titomic to secure both near-term revenues and longer-term sustainable expansion through machine sales, secure supply chain of metal powders and acquisitions to develop further IP broadening Titomic’s market potential,” Mr Lang added.
In early afternoon trade, Titomic’s share price had risen more than 7% to A$1.82.