Metal Powder Works lists on ASX after raising $10 million

PITTSBURGH: Metal Powder Works Limited (ASX: MPW), a leading innovator in metal powder production, has successfully listed on the Australian Securities Exchange (ASX) following a $10 million capital raise.

The company, which specializes in advanced manufacturing powders, began trading under the ticker code “MPW” after completing a reverse merger with K-TIG Limited.

Founded in 2017 by industry veterans John Barnes and Chris Aldridge, Metal Powder Works has developed the patented DirectPowder™ process, a groundbreaking method for producing high-quality metal powders without the use of heat. This innovation, which converts premium bar stock into customizable powders, represents the first significant advancement in powder manufacturing in over 50 years.

The company’s DirectPowder™ technology has been successfully demonstrated in various additive manufacturing processes, including Directed Energy Deposition, Binder Jetting, Laser Powder Bed Fusion, and Cold Spray technologies. Metal Powder Works currently serves a diverse client base, including the U.S. Department of Defense, Powders on Demand, 6K Additive, Toho Titanium Co. Ltd., and Westinghouse.

Metal Powder Works’ product portfolio includes a range of high-yield powders, such as aluminum, titanium, copper, bronze, zirconium, and refractory alloys. The company was awarded the prestigious Material Company of the Year in December 2024, further solidifying its position in the industry.

Proprietary Technology and Market Position

The DirectPowder™ process offers significant advantages over traditional atomization methods, including higher energy efficiency and yields of approximately 95%. The non-thermal approach ensures consistent particle size and shape, resulting in better outcomes for customers. The company’s technology has the potential to reduce energy usage and CO2 emissions by up to 83% compared to gas atomization and 89% compared to water atomization.

Metal Powder Works operates in the global metal powders market, which was valued at approximately $6.90 billion in 2024. The company’s focus on specialized powders for additive manufacturing positions it well for future growth, particularly in the copper and titanium segments. The global copper powder market, valued at $765 million in 2023, is expected to grow to $1.12 billion by 2032.

Growth Priorities and Expansion Plans

The company plans to expand its sales efforts, initially targeting the U.S. market before moving into Europe and Australasia. Metal Powder Works aims to increase production capacity, particularly for reactive materials like titanium, and deepen collaborations with defense, aerospace, and research institutions. The company is also advancing its NextGen technology to capitalize on opportunities in CP Titanium production.

Capital Raising and Market Debut

Metal Powder Works raised $10 million through the issuance of 50 million shares at $0.20 per share, giving the company an indicative market capitalization of $27.9 million upon listing. The proceeds will be used to scale the NextGen System, develop titanium and other alloy powders, expand sales and marketing efforts, and cover operational expenses.

John Barnes, Managing Director of Metal Powder Works, expressed his enthusiasm for the ASX listing, stating, “The ASX understands minerals and metals better than any market anywhere, so being a part of the ASX is significant to me personally and professionally as we progress to disrupt the metal powders market globally.”