This MST agreement follows the ASX announcement of Titomic's memorandum of understanding (MoU) with Fincantieri as the first step in the defined roadmap to evaluate the potential for the company's additive manufacturing process, Titomic Kinetic Fusion, to be used in Fincantieri's manufacturing activities.
Jeff Lang, Titomic chief technical officer, said, "We are pleased to kick off this first project with Fincantieri as part of our MoU. We will be producing test samples at our new state-of-the-art facility in Melbourne in order to conduct the stringent tests required. This is the first step toward manufacturing large marine parts on our metal 3D printers of limitless scale."
As part of the MoU, members of Titomic's technology and operational teams have recently completed a visit to Riva Trigoso Shipyard in Italy for an in-depth review of the mechanical components designed, developed and manufactured on-site by Fincantieri as the first phase of marine technology transfer to Australia.
"The activities between Fincantieri and Titomic evaluate the benefits of applying the proprietary Titomic Kinetic Fusion technology to manufacture mechanical components for naval and merchant ships. With over 100 ships on order around the world, Fincantieri has the size and strength to bring new technology to market," said Dario Deste, Fincantieri Australia chairman.
Sean Costello, director at Fincantieri Australia, said, "Titomic's technology combined with Fincantieri's technology transfer program to Australia creates the potential to return Australia's capability in mechanical componentry. Our aim is to return high-value jobs to Australia, reduce costs and become sovereign as a shipbuilding nation."
Titomic is a metal additive manufacturing company based in Melbourne and has an active relationship with Fincantieri as part of it's bid for SEA 5000. Fincantieri is one of the world's largest shipbuilding groups and number one by diversification and innovation. Fincantieri is one of the shortlisted bidders for the Future Frigate SEA 5000 program, which will deliver nine advanced guided missile frigates to the Royal Australian Navy.