PERTH: Titomic Limited, a global leader in advanced additive manufacturing and cold spray technology, announced Wednesday the acquisition of a 59,000-square-foot facility in Huntsville, Alabama, marking a significant milestone in its North American expansion.
The Australian-based company, traded on the ASX under the ticker TTT, purchased the facility for $7.2 million. The site will serve as an innovation center for cold spray additive manufacturing, focusing on research, development, and production in collaboration with key industry and defense partners. The facility is expected to be operational by the second quarter of 2025, equipped with low, medium, and high-pressure cold spray solutions.
Titomic has secured a $5.75 million, 25-year financing agreement through First National Bank of Alabama, with an initial interest rate of 6.5%. The financing underscores institutional confidence in the company’s vision and operational strength. Andy Whitt, Senior Vice President of First National Bank, expressed enthusiasm for the partnership, stating, “We are elated to support Titomic in acquiring this extraordinary factory asset, which is extremely compatible with their business.”
In addition to the bank financing, Titomic received a $1 million surety from Innovate Alabama, a public-private initiative focused on entrepreneurship and technology in the state. This investment is expected to accelerate Titomic’s manufacturing capabilities, drive job creation, and enhance collaboration with local research institutions and industry partners.
The Huntsville facility is strategically located near the U.S. Department of Defense’s Redstone Arsenal, NASA’s Marshall Space Flight Center, and leading defense contractors. This positions Titomic to contribute to national security and aerospace innovation by providing rapid component repair, producing high-strength lightweight parts, and developing advanced coatings for corrosion resistance.
Over the next 12 months, Titomic plans to scale production capabilities, expand partnerships with aerospace and defense leaders, and strengthen workforce development initiatives in collaboration with local universities and technical institutions.
Titomic’s expansion into Huntsville reflects its commitment to advancing cold spray technology and meeting the growing demands of the aerospace and defense sectors. With strong financial backing and a strategic location, the company is poised for sustained growth in the U.S. market.