$20M Titomic investment to support new facility in Huntsville, AL
Company has also appointed Jim Simpson as new CEO effective Jan 1, 2025
Titomic, an Australia-based metal AM company that specializes in cold spray technology, has secured a substantial investment of AUD$30 million (~USD$20M). The funding will support the opening of a new headquarters and manufacturing facility in Huntsville, Alabama.
Titomic has increasingly been looking to expand its operations within the American market as it has experienced growing demand for its Titomic Kinetic Fusion (TKF) technology from the U.S. defense industry. TKF is a robotic cold spray process capable of building metal parts from dissimilar materials, ideal for repairing existing systems or creating replacement parts on demand. One particular application that interests the U.S. military is the production of 3D printed titanium ballistic protection for combat vehicles.
“This highly successful equity placement marks another significant milestone for Titomic,” commented Dag W. R. Stromme, who was recently appointed as Titomic’s new executive chairman. “We are now in an excellent position to advance our cold spray technology by executing our US expansion to Huntsville, Alabama, expanding our global manufacturing footprint as well as further advancing our coating and repair solutions.”
Titomic’s TFK technology has already been adopted by defense organizations and militaries around the world. For instance, in 2023 the French Ministry of the Armed Forces purchased a D523 cold spray system from the Australian company, and the Royal Netherlands Army recently placed an order for 10 metal AM systems.
In addition to the funding news, Titomic has also appointed a new CEO, Jim Simpson. Simpson, who will succeed current CEO and Managing Director Herbert Koeck on January 1, 2025, is now the interim President of Titomic USA and Deputy CEO of Titomic Limited. Simpson is a veteran of the aerospace and defense industries, having served as CEO of Saturn Satellite Networks and ABS Corporation as well as having held leadership positions at Virgin Orbit, Aerojet Rocketdyne and Boeing.
