Advanced manufacturing company Titomic Ltd (ASX: TTT) announced this morning that it has gained exclusive rights to two patents related to the production of pipe and pipe components, which it says will open the door to significant revenue opportunities. The Titomic share price is up 4.8% this morning to $2.19.
The patents, exclusively licensed with CSIRO, will grant Titomic more than eight years of innovative additive manufacturing techniques, background IP and kn0w-how for the production of pipe and continuous pipes.`
Titomic specialises in additive manufacturing (metal 3D printing) using its Titomic Kinetic Fusion (TKF) process, which allows for the manufacture of industrial-scale titanium parts for various industries, purportedly in a faster and more cost-efficient manner than with traditional techniques.
Titanium's corrosion resistance and strength-to-density ratio is the highest of any metallic element, making it a highly attractive material for many applications.
The patents announced today set the stage for Titomic to efficiently manufacture high quality pipe without the typical constraints of traditional techniques. Titomic says that pipe produced using its TKF process has superior wear and corrosion resistance properties which make it applicable to industries such as Oil and Gas, Marine, Defence, and Mining.
Titomic Managing Director, Jeff Lang said: "To capitalise on the significant $300+ billion global interest Titomic has received from the Oil & Gas, Mining and Marine industries to provide more sustainable and cost-effective additive manfucaturing, these new TKF technologies enable Titomic to provide viable digital manufacturing capabilities leading to significant short, mid and long-term revenue opportunities."
Titomic listed in mid-2017 at $0.20 per share and has since seen its share price gain 985%.
