News

• Titomic’s first MoU for the Marine sector (shipbuilding, repair and offshore)
• 12-month agreement to evaluate the use of Titomic Kinetic Fusion in Fincantieri’s manufacturing activities
• Fincantieri S.p.A is the largest shipbuilder in Europe and fourth largest in the world and builds both commercial and naval vessels

Melbourne/Adelaide, Australia, 14 May, 2018: Australian metal additive manufacturing company, Titomic Limited (ASX: TTT) (“Titomic” or “the Company”) today announced it has entered into a Memorandum of Understanding (“MoU”) with Fincantieri Australia PTY LTD (“Fincantieri”), the Australian division of Fincantieri S.p.A. (BIT: FCT).

The MoU, Titomic’s first for the Marine sector, begins with immediate effect and will last for 12 months. The MoU will enable Titomic to work with Fincantieri to evaluate the potential for the Company’s additive manufacturing process, Titomic Kinetic Fusion, to be used in Fincantieri’s manufacturing activities. The shipbuilding sector is a very traditional and cost oriented industry. Titomic’s signing with Fincantieri, one of the most diversified and successful shipbuilders in the world, explores the Company’s proprietary processes to complement and improve existing manufacturing process, and is the start of a synergistic partnership.

With 20 shipyards across four continents, Fincantieri S.p.A is one of the world's largest shipbuilding groups and number one by diversification and innovation. It is the leader in cruise ship design and construction, and a reference player in all high-tech shipbuilding industry sectors - from naval to offshore vessels, from high-complexity special vessels and ferries - to mega-yachts, ship repairs and conversions, systems and equipment production, and after-sales services. Fincantieri also carries out maintenance and refurbishment of cruise ships – a major and growing international industry. Fincantieri is one of the shortlisted bidders for The Future Frigates SEA 5000 program.

Titomic was awarded Best Maritime Innovation award at Pacific 2017 International Maritime Exposition. This MoU affirms Titomic’s entrance into the shipbuilding and offshore industries. The initial R&D phase will take place at Titomic’s Melbourne facility.

Commenting on the agreement, Dario Deste, Chairman of Fincantieri Australia said:

“We are pleased to partner with Titomic, an innovative advanced manufacturing company, to pursue new technological development, continuous improvement and value creation for all our stakeholders. The significance of this partnership examines how we can introduce new manufacturing technologies to make Australia sovereign in advanced naval technology and improve our solutions on the world-wide market.”

Jeff Lang, CEO & CTO of Titomic commented:

“This agreement with Fincantieri marks a significant milestone for future shipbuilding and industrial scale additive manufacturing. Titomic’s signing with Fincantieri to evaluate our Titomic Kinetic Fusion process will not only add value to existing manufacturing and repair activities, it will lead to the creation of next generation high tech vessels.”

Representatives from Fincantieri Australia will be attending Titomic’s launch of the world’s largest metal 3D printer at Titomic’s Melbourne facility on 16 May, 2018.