Tech company Titomic (ASX: TTT) has strengthened its standing in the engineering company with a big win having been selected by global aviation giant Airbus for cold spray equipment which will be used as part of their maintenance protocols.
For Titomic, the partnership is poised to redefine its standing in the aerospace industry by integrating cutting-edge technology with the rigorous standards of Airbus, who are the world’s fourth largest aircraft manufacturer.
As part of the agreement, Airbus has issued a purchase order for two Titomic Kinetic Fusion systems, totaling EUR 386,900 (approximately AUD 645,000), contingent upon Airbus’ final configuration specifications. The revenue generated from this sale will be recognised in three stages, with 50% being recognised upon receipt of the purchase order, an additional 40% before shipping the systems, and the final 10% after the successful completion of the Site Acceptance Testing.
One of these systems, a D623 medium-pressure cold spray system, is set to be installed on-site at Airbus. This system will empower Airbus with the capability to apply unique coatings and perform necessary repairs. The second, larger system will be stationed at Titomic’s European facility.
The collaboration between Titomic and Airbus aims to open up new frontiers in aerospace applications tailored to Airbus’ specific requirements. Titomic, as the chosen cold spray technology partner, will work hand-in-hand with Airbus to develop and refine cold spray processes and equipment to meet the stringent standards of the aerospace industry.
Titomic Managing Director, Herbert Koeck commented, “This is a significant development for us at Titomic, and we are excited to embark on this strategic partnership with Airbus, further expanding our presence in the aerospace sector.
“This collaboration not only strengthens Titomic’s position as the global leader in cold spray technology but also highlights the company’s commitment to providing cutting-edge solutions to the aerospace industry.
“With demanding regulations and requirements, the aerospace market is difficult to enter. We are grateful to Airbus, our investors, and suppliers for supporting us in reaching this important milestone.”
The integration of Titomic’s equipment and technology within Airbus maintenance protocols dictates that all Airbus Maintenance, Repair, and Overhaul (MRO) facilities planning to employ cold spray applications must utilise Titomic’s equipment and technology. This requirement ensures consistency and adherence to Airbus standards across all MRO operations, underscoring the high quality and reliability of Titomic’s cold spray technology.
For FY23, Titomic reported $4.5 million revenue, slightly down from the $5.3 million reported the previous year.
Alfred Chan is an Analyst at Emerald Financial, specialising in ASX-listed small cap companies.
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