Melbourne-based cold spray solutions provider Titomic (ASX: TTT) has gotten its largest D523 order yet from the land branch of the Royal Netherlands Army, Koninklijke Landmacht. The Royal Netherlands Army intends to dispatch nine of these systems to Ukraine to aid in the country’s war efforts.
The order, valued at approximately $1.28 million, comprises 10 units of the D523, Titomic’s low-pressure cold spray system. This represents a significant advancement in Titomic’s presence within the defense sector.
These D523 Systems will facilitate in-field battle damage repair and forward maintenance, thereby enhancing combat readiness and extending mission capabilities. The order represents a substantial revenue stream for Titomic and reinforces its stature as a pivotal player in the global defense and aerospace domains.
Colonel C Heukers of the Royal Netherlands Army commented, “Our decision to invest in Titomic machines marks a definitive shift from theoretical exploration to practical implementation of additive manufacturing within our military.
“This move signifies our unwavering commitment to leveraging advanced capabilities in real-world applications. By providing these innovative technologies to Ukrainian forces, we demonstrate our trust in their ability to swiftly adopt and effectively utilise these tools to enhance military capabilities.
“This collaboration underscores our dedication to staying at the forefront of technological innovation and ensuring readiness for the challenges of modern warfare.”
Titomic specialises in large integrated solutions for industrial-scale metal additive manufacturing, using its patented cold spray additive manufacturing (Cold Spray AM) technology. The Company caters to various industries, including aerospace, defense, shipbuilding, oil & gas, mining, and automotive sectors.
In H1 FY24, Titomic saw a 51% increase in revenue, totalling $4.2 million compared to the previous corresponding period (pcp). This growth was fueled by a 59% surge in customer sales revenue, amounting to $2.3 million, while revenue from government grants and other sources contributed $1.9 million.
For its D523 system, the Company secured partners in Asia, Western Australia, and the US and found a buyer in the French Navy. The D523’s capabilities align perfectly with the needs of The Royal Netherlands Army, demonstrating Titomic’s ability to meet the stringent requirements of military applications. The delivery of the D523 systems is scheduled to start in the coming months.
Managing Director, Herbert Koeck, said, “This order from the Royal Netherlands Army marks a pivotal moment for Titomic, showcasing our D523 System’s ability to provide versatile repair and maintenance solutions on a large scale and creating a significant revenue opportunity. This is a stride forward in our ongoing efforts to bring these innovative solutions to a wider market. Titomic is aiming to attract more large-scale orders from innovators across various sectors in the coming months, including resources, defence, and aerospace, who are eager to leverage the advanced capabilities Titomic offers.”
Titomic is also having commercial conversations with various other armies and navies globally, including the Australian Defence Force. These discussions follow several successful demonstrations within Australia, showcasing Titomic’s innovative cold spray solutions and their applicability to various military and defence operations.
Alinda is a Business Reporter for The Sentiment
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1 Comment
Shraddha13
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