Titanium 3D printing company Titomic Australia Stock Exchange's first show doubled up
Melbourne based high-tech metal 3D printer Titomic (ASX:TTT) was listed on the Australian Stock Exchange in September 21st, showing its debut debut and doubled its share price during early trading.
Titomic specializes in high strength structural titanium alloys, which can be used to make large, complex metal parts used in defense, aviation, automotive, medical and construction industries. Titomic shares began trading at 11:00 pm Eastern time on Thursday, with shares rising to 45 cents on the first day, 25 cents higher than the stock offering, and trading volume of 9 million 50 thousand shares.
In September 22nd, Titomic continued upward momentum, closed up 15% at $0.52.
Titomic has the right to exclusive technology commercialization, the technology is with the Commonwealth of Australia science and Industrial Research Organization (CSIRO) jointly developed, can be used for high quality parts 3D printing rapid high titanium alloy material is advanced. The titanium fusion process can be used to make wheelchairs, golf clubs, drones, naval vessels and land-based motor vehicles.
Titomic Vafiadis chairman Vafi Ardis (Philip 3D) said that the company issued a $6 million 500 thousand worth of IPO will be used in the construction of plant facilities in Melbourne, the future will accommodate one of the world's largest printers.
Titomic's production unit has the capacity to make two cycles per hour. Compared to skilled workers, Titomic production efficiency is 4 times, and can significantly reduce production costs. Titomic will enable electronic robots in the manufacturing process to automate the production and polishing of standard titanium components.
It is reported that 3D printing technology can also use other metals, or ceramic materials to build industrial scale load-bearing structure, and not subject to shape, size restrictions.
"The technology we have has great commercial potential in multiple applications and is committed to spreading it to a broader market.". "Titomic is very grateful to all shareholders for their support," said mr..