High-speed welding technology developer K-TIG (ASX: KTG) has rejoined the Australian stock exchange after raising $7 million from investors.
The company is commercialising a former CSIRO technology known as Keyhole TIG which operates at a fraction of the cost and time of conventional systems.
The listing was a backdoor listing, involving the purchase of Serpantine Technologies, which has been renamed K-TIG.
Investors in the new raising, which brought market capitalisation to $28.9 million, included Perennial Value Management and Alium Capital Management, as well as high net worth and retail investors.
The company has already sold systems to customers in 20 countries, including GE, Siemens, Bilfinger and the UK Nuclear Advanced Manufacturing Research Centre.
They are based on a gas-tungsten arc process and studies of keyhole physics, weld pool stabilisation, heat removal and process efficiency.
the technology is well suited to corrosion resistant materials such as stainless steel, titanium, reactive metals and super alloys.
The company will operate a welding as a service model.
K-TIG is one of the success stories, along with metal 3D printing company Titomic, nurtured by Adelaide innovation group Innovyz.
Picture: Innovyz/K-TIG CEO David Williams with the welding system
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