ASX-listed Titomic has sold its D523 low-pressure cold spray system in a purchase order that allowed it to enter the North American renewable market.
Fire Island Wind, a Cook Inlet Region company, procured the D523 cold spray system from Titomic USA for $80,000 to repair and protect its steel wind structures against corrosion.
Located in Alaska, the structures are often built in coastal, high-wind areas, making them susceptible to corrosion, which requires the company to implement significant maintenance efforts over the structures’ lifespan.
Fire Island will use the D523 to apply corrosion-resistant aluminium by hand onto the steel structures, creating long-lasting corrosion protection and reducing maintenance costs and turbine downtime.
“This is a pivotal entry into a burgeoning market in North America. Our technology is providing a broad range of industries with new, more efficient ways to repair and maintain critical infrastructure, and this is yet another demonstration of this,” said Herbert Koeck, managing director of Titomic.
“The addition of the renewables sector will bolster Titomic’s diversified revenue model and provide an example of what can be achieved for other renewable energy companies in key regions across the globe,” Koeck added.
“Titomic USA is continuing its growth in North American renewable energy and other target sectors.”
Mordor Intelligence has estimated that the global wind energy sector is expected to see installed capacity grow at a compound annual growth rate of 8 per cent per annum until 2027.
In 2020, more than 16,500 MW of wind power capacity was installed in the United States, taking up over USD 24.6 billion in investments.
