The United Arab Emirates-based Advanced Science and Innovation Company (ASIC) has taken a 30 per cent stake in Adelaide welding technology company K-TIG.
K-TIG CEO Neil Le Quesne (pictured) said in a statement that state government funding allowed the company to conduct an international case study with one of the world’s largest fabricators, and the success of this pilot to attracting the attention of leading institutional investors.
South Australia’s Minister for Manufacturing and Innovation, Kyam Maher said the ASIC investment was great recognition for another South Australian advanced manufacturing company positioning itself on the world stage.
“Attracting international institutional investors clearly requires world leading technology,” he said.
K-TIG has developed an ultra-high-speed, full penetration welding technology that welds up to 100 times faster than conventional welding in materials up to 16mm in thickness – in one pass.
The technology eliminates the need for wire, edge preparation and skilled operators while requiring just one twentieth of the gas and power needed by other welding processes.
“In two short years, K-TIG has managed to turn the way we think about welding on its head and has developed technologies which have eluded the world's largest welding equipment manufacturers in the US and Europe,” said Mr Le Quesne.
"This technology places a tool in the hands of fabricators which routinely reduces the time, gas and power required to weld steels and exotic materials by more than 90%".
ASIC General Manager Filip Matwin said K-TIG’s proprietary process was already bringing order-of-magnitude productivity gains to the global fabrication sector. “Global 500 companies are achieving order of-magnitude cost savings by simply replacing their conventional welding system with K-TIG,” he said.
“The productivity gains and cost reductions being experienced by these companies is extraordinary, with payback on the technology achieved in months rather than years. We expect this to be a highly disruptive technology, and we are absolutely delighted to be a part of the company’s development.”