Metal additive manufacturing company, Titomic, has announced signing an agreement with TAUV to commence an up to $1.8 million exclusive defence program to manufacture unmanned aerial vehicles (UAV), soldier systems and soldier sensors for TAUV.
The two companies entered into a Memorandum of Understanding (MoU) following the launch of a ruggedised drone prototype by Titomic at Land Forces 2018. The MoU will see a two-phase extension to the relationship with TAUV to licence Titomic’s patented Titomic Kinetic Fusion (TKF) technology to manufacture soldier systems for TAUV, the company announced on ASX on Monday.
The ruggedised soldier-enabled UAV in Titanium improves stability and impact resistance, tamperproof payloads in the hands of enemies, external mounting for easy deployment and forward scouting of routes.
The patented process developed by Titomic at their Melbourne-based facility goes by the name of Titomic Kinetic Fusion and produces load-bearing 3D forms from fusing metallic powder feedstock sprayed at supersonic speeds.
The soldier system is projected to grow from US$9.78 billion ($13.76 billion) in 2018 to US$14 billion (19.69 billion) by 2023, at a CAGR of 7.65 per cent, as reported by Research and Markets.
Under the second phase of the agreement, Titomic is set to deliver a feasibility report to TAUV outlining the various performance parameters, mechanical properties and product cost advantages of the Titomic technology including proof of concept prototypes.
Phase III will comprise of Titomic designing and engineering a manufacturing process for TAUV’s soldier system for up to five different specific products.
On successful completion of production and evaluation trials, TAUV will finalise product licences with Titomic to use TKF technology automated production line systems to manufacture soldier system products with ongoing royalty payments to Titomic for use of the TKF technology.
Titomic managing director, Jeffery Lang said the MoU would provide the first significant revenue for Titomic.
“The granting of an exclusive licence to TAUV for the production of soldier systems further validates Titomic’s licensed CSIRO patents as a viable additive manufacturing process that enables Australian companies to manufacture cutting-edge products with competitive advantages for the global market,” he said.