Titomic notes defence milestone with Cold Spray Additive Manufacturing
June 17, 2024
Titomic Limited, based in Brisbane, Australia, has reported on its recent advances in the global defence sector. The company has secured a number of highly sensitive projects with international defence primes and suppliers, each directly leveraging its Cold Spray Additive Manufacturing capabilities.
The company stated that these contracts are worth aggregate revenues of AUS $476k, of which AUS $64k has been recognised as of May 2024, and a further AUS $412k is expected to be recognised by Q2 FY2025. Further advancement of these engagements will be revenue-accretive and subject to future disclosure by Titomic.
Herbert Koeck, Managing Director of Titomic, commented, “We are thrilled to have secured these engagements with international defence primes and key suppliers to the global defence and aerospace sectors.”
“We are working closely with our partners to apply Titomic’s industry-leading cold spray capabilities in these new applications encompassing defence component design and supply, and research and development manufacturing projects. These projects present significant long-term revenue generation opportunities for Titomic as the company is restrained from disclosing the nature of these engagements due to legislative and regulatory restrictions governing information disclosure in the defence sector due to national and global security concerns.”
“This restriction applies not only to the scope of Titomic’s work, but also the contract counterparty. In any case, the company considers this information would fall within the concept of ‘trade secrets’ as set out in the ASX Listing Rules. Adoption of our technology expands within these projects and within the broader defence sector,” Koeck added.
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