Titomic, a provider of cold spray solutions, has recently secured several sensitive projects with international defence primes and suppliers, showcasing the practical applications of its technology.
The aggregate revenue from these contracts amounts to AUD 476,000, with AUD 64,000 already recognized as of May 2024, the company said in an ASX announcement.
The remaining AUD 412,000 is expected to be recognised by the second quarter of the fiscal year 2025.
“We are thrilled to have secured these engagements with international defence primes and key suppliers to the global defence and aerospace sectors,” said Herbert Koeck, managing director of Titomic.
Titomic’s cold spray technology is being utilised in various new applications, including defence component design, supply, and research and development manufacturing projects.
This technology allows for innovative solutions in creating robust, high-quality components essential for defence operations.
“We are working closely with our partners to apply Titomic’s industry-leading cold spray capabilities in these new applications,” Koeck added.
“These projects present significant long-term revenue generation opportunities for Titomic as the adoption of our technology expands within these projects and the broader defence sector.”
The company anticipates that the further advancement of these engagements will continue to be revenue-accretive.
The ASX-listed company technology is set to revolutionise the defence sector by providing superior manufacturing capabilities that enhance the durability and efficiency of defence components.
Titomic’s ongoing efforts and successful collaborations with global defence primes underscore its crucial role in advancing defence technologies.
