Abu Dhabi: Strategic Development Fund (SDF) and Titomic, an Australian company have signed a collaboration agreement to assess the potential of setting up a joint venture between the parties to establish a local manufacturing line in order to produce advanced 3D printing technologies for large products and components at industrial scale for a variety of industries mainly focusing on aerospace, defense, oil and gas and mining in the UAE.
The advanced technology additive manufacturing (3D Printing) plant will employ next-generation Industry 4.0 methods and industrial-scale automated production using high-performance metal alloys, including titanium for a variety of industry applications. The potential joint venture between the parties will provide industrial scale 3D printing capability for the region. In addition, the 3D printing and manufacturing plant would also act as the distributor and after sale services center for Titomic products.
Titomic is an Australian listed public company (ASX:TTT) that utilizes patented additive manufacturing (3D Printing) technology with a reduced carbon footprint, robotic automation, Industry 4.0, and specialty materials expertise to create high-performance products and solve complex engineering challenges.
The MOU was signed by Dr Andreas Schwer, Chairman of Titomic Limited, and Mohamed Musabah Al Mazrouei – Director, Venture Investments, SDF.
Strategic Development Fund (SDF), the investment arm of Tawazun Economic Council, is focused on financial return and economic impact within UAE’s strategic sectors, through equity investment in local and international partnerships and developmental funding towards UAE’s private sector.
About Tawazun Economic Council:
Founded in 1992, Tawazun Economic Council (Tawazun) has enabled the creation of more than 111 companies and investment vehicles within twelve sectors, and now serves as the catalyst for both economic growth and the development of the UAE defense and security industry.
Tawazun drives economic value through the Tawazun Economic Program and the Strategic Development Fund, facilitating ecosystem growth and human capability development through global and local partnerships, and empowering technology & innovation through the defense and security R&D ecosystem.
About Titomic Limited:
Titomic Limited (ASX:TTT) is an Australian public company specialising in digital manufacturing solutions for industrial scale metal additive manufacturing using its patented Titomic Kinetic Fusion® (TKF) technology. The TKF technology provides unique capabilities for producing commercially viable additively manufactured metal products competing directly with traditional manufacturing methods.
Titomic provides OEM production and R&D services from their TKF Smart Production Bureaus to the global Aerospace, Defence, Shipbuilding, Oil & Gas, Mining and Automotive industries. Titomic also provides an extensive range of metal powders for 3D Printing especially Titanium and super alloys whilst providing sales and support services for their TKF production systems.
For more information please visit: www.titomic.com.
© Press Release 2021