Titomic Limited (ASX: TTT) has successfully completed Factory Acceptance Testing prior to shipment and installation of its first commercially ordered turnkey glass mould coating system.
Completion of the system’s delivery is expected in the coming days.
Key Highlights
- Creation of the world’s first automated cold spray system for glass mould coatings,
- Titomic’s first commercial sale into the International Partners in Glass Research (IPGR) network,
- The IPGR represents numerous partner companies which comprise 12% of the glass packaging market, which is valued at US$51 billion per annum with a CAGR of 4.4%. (Global Market Insights, 2021),
- A$1.7 million revenue expected over a three-year period for every comparable machine sold.
In a first for automated cold spray applications, Titomic Europe, in collaboration with IPGR – a leading glass research organisation – has developed a system for the coating of glass moulds.
The system scans the moulds, and using AI software, produces a robotic program to automatically coat and repair the mould. This is a breakthrough in automated cold spray and will significantly enhance the performance of moulds for the glass industry.
Subsequent generations of this system will introduce automated loading, unloading, and polishing of moulds. Factory Acceptance Testing is a significant milestone; it is the final step before shipment that proves the machine is performing as designed and is accepted by the customer for delivery.
The system will now be shipped to Vetropack, Austria – a leading glass packaging manufacturer in Europe – for installation.
Titomic expects the installation of this cold spray system to provide further opportunity for systems sales within the global IPGR network.
Each comparable machine sale will have potential to generate a revenue of AUD 1.7 million over a three-year period.
This highly automated system enables:
- Increased lifespan of glass moulds,
- Reduced manual input and increased operator safety,
- Maximised uptime of glass bottle production plants,
- Elimination of dirty grease traditionally used to lubricate moulds.
This entry into the glass packaging and components market represents a new income stream for Titomic,” Titomic Managing Director, Herbert Koeck, said.
“The industry needs this type of mould enhancement to prolong life of production lines and mould machinery. As such, we will be providing machine sales – the first of which we’re about to ship to Vetropack – as well as ongoing consumables and servicing enabled by our expanded global footprint.
“Titomic Europe, together with its collaborators, have made a significant step forward in the development of automated systems, improving conditions for operators as well as adding to the bottom line of our customers.”
