Titomic purchases Alabama site for upcoming Innovation Center for Cold Spray Additive Manufacturing

Melbourne-based cold spray additive manufacturing business Titomic has purchased “a modern 59,000-square-foot facility” in Alabama for $US 7.2 million as the company continues to solidify its US presence.

In a statement on Tuesday, Titomic dubbed the facility in the defence hub of Huntsville the “Innovation Center for Cold Spray Additive Manufacturing”. The facility is expected to be operational in Q2 this year.

Nearby are the US Department of Defense Redstone Arsenal, NASA’s Marshall Space Flight Center, and various defence contractors. 

The site will include a “suite of low (D523), medium (D623), and high-pressure (TKF) cold spray solutions” made by the company and “will drive advancements in cold spray technology, fostering research, development, production, and collaboration”.

Financing includes a $US 5.75 million, 25-year agreement through First National Bank (Alabama), with an initial interest rate of 6.5 per cent, also marking “the establishment of a long-term banking relationship” in the country.

Further support has come through a $US 1 million surety in support from the public-private organisation, Innovate Alabama.

The news follows the announcement of a new partnership with The University of Alabama in Huntsville (UAH) earlier this month, focussed on joint research initiatives, technology development, and commercialisation of solutions based on cold spray.

Titomic announced the establishment of a manufacturing presence and operational headquarters in Huntsville in October last year, following a capital raise eventually worth $30 million. 

Titomic was established in Melbourne in 2014 to commercialise technology developed at the CSIRO, and listed on the ASX in 2017.

Picture: Titomic

Further reading

Titomic, University of Alabama announce R&D partnership

Titomic 3D print machine bought by US university

Titomic and SAE International’s new cold spray standard

Titomic announces successful $30 million equity raise supporting US move

Changes at the top for Titomic as it conducts reported $20 million capital raise