K-TIG (ASX: KTG), a leading provider of welding technology solutions, has announced a new research project with Fincantieri Marinette Marine and The Edison Welding Institute. This project has been awarded by the US Navy’s National Shipbuilding Research Program (NSRP) to support the implementation of K-TIG’s groundbreaking technology at a participating shipyard.
The research project is set to run for 12 months with an end date of January 2024, after which the Company will receive approximately $70,000 in research funding.
K-TIG’s Managing Director Colin Smith said: “This is an incredible opportunity for us to partner with two esteemed organisations such as the US Navy’s NSRP and Fincantieri Marinette Marine on such an ambitious endeavour.”
Through this investment, the team can advance and refine the Company’s highly efficient welding methodologies, delivering greater accuracy, speed and cost savings for commercial and defence shipbuilding projects.
K-TIG’s innovative Tungsten Inert Gas (TIG) welding process couples high-speed titanium inert gas (TiG) with traditional tungsten inert gas (TIG) welding methods for increased productivity and improved quality assurance. The hybrid approach allows users to weld more complex shapes quickly while ensuring that all welds are within exact specifications. As such, it eliminates much of the need for manual rework or additional post-weld fixings, which can lead to significant time and cost savings when constructing vessels.
The Company’s tech has already proved itself in many European applications. Still, this new US Navy-funded program is an exciting opportunity for the business to introduce its product into American shipyards. By doing so, they can help position the country as a leader in defence sector production capabilities whilst simultaneously helping expand its global market presence within marine engineering services.
“Our patented welding process offers faster speeds than traditional methods allowing us to build vessels faster without compromising on quality assurance standards. Not only does our technology provide clear benefits from a production perspective but also has significant environmental implications with reduced energy consumption compared to other processes.”
With this latest research project now underway, K-TIG hopes that it will lead to further collaboration opportunities between them and leading industry organisations throughout 2020 and beyond – ultimately helping drive forward innovation within global marine engineering services whilst solidifying their position as one of the leading providers of specialty welding technologies within this field.
Trading Desk Assistant at Emerald Financial
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