South Australian innovation commercialisation company Innovyz has welcomed last week’s listing of additive manufacturing disruptor Titomic Pty Ltd (ASX: TTT) to the Australian Securities Exchange after raising $6.5m.
Titomic is an Australian additive manufacturing specialist established to help companies leverage advanced materials and a new proprietary Kinetic Fusion process to produce stronger and faster products at scale.
Titomic founder and CEO Jeff Lang
Co-developed with CSIRO, the Titomic process overcomes the limitations of previous additive manufacturing (3D printing) for metals to manufacture complex parts without shape and size constraints. Based on the well-known ‘Cold Spray technologies’ the US Military use on Blackhawk helicopters’ maintenance and repair, benefits include:
- World’s fastest build rates, 30 times faster than the largest commercial 3D printers available
- Leverage superior materials with the fusion of dissimilar metals and blended alloys
- Production volumes without tooling
- Stronger structures without welding, folding or bending
- Reduced time to market; faster manufacturing time + localised production
- Lower production costs
Innovyz Executive Director Stuart Douglas said the company had achieved a major milestone with the listing.
“Innovyz is proud to have played a role in bringing this transformative innovation to the ASX in a remarkably short space of time. To move from lab to listing on the ASX in less than three years is no mean feat,” Douglas said.
“After making contact with Titomic founder and CEO Jeff Lang in 2014, Innovyz assisted with patent negotiations with CSIRO, established the company, developed a business plan and undertook other management roles before introducing the company to PAC Partners and assisting with the formation of the board and the capital raising.
“Jeff should be congratulated on the way he has persisted in the development and commercialisation of this product. Titomic has a very exciting future in global markets and I have no doubt manufacturing will change as a result of the Titomic process.
“At Innovyz we’re confident that this is just the first in a long line of companies that we have assisted that can eventually join Titomic on the ASX.
“We are really excited about the future of commercialisation of innovation in Australia and we know we can play a big part in that.”
Titomic CEO Jeff Lang said the company was delighted in successfully listing on the ASX at $0.20 and closing on the opening day at $0.45, 125% above our opening share price.
“The commitment of Innovyz to really understand the Titomic Kinetic Fusion technology and to assist us to maximise our potential to raise capital and execute cutting edge strategy on the global stage has been phenomenal. The Innovyz team really understand the intricacies and challenges of getting a new idea to market. I’m sure that it would have been a longer and harder road without their help.”
