Australian additive manufacturing company Titomic has acquired a 59,000-square-foot facility in Huntsville, Alabama for $7.2 million. The site, designated as the Innovation Center for Cold Spray Additive Manufacturing, is scheduled to begin operations in the second quarter of 2024.
The facility’s strategic location places it near significant aerospace and defense installations, including the US Department of Defense Redstone Arsenal, NASA’s Marshall Space Flight Center, and various defense contractors. The center will house multiple cold spray solutions, featuring low, medium, and high-pressure systems manufactured by Titomic.
The purchase was primarily financed through a $5.75 million, 25-year agreement with First National Bank of Alabama, carrying an initial interest rate of 6.5 percent. Additional support includes a $1 million surety from Innovate Alabama, a public-private organization.
This expansion follows Titomic’s recent partnership with The University of Alabama in Huntsville, focused on cold spray technology research and development. The company established its US operational headquarters in Huntsville in October 2023, supported by a $30 million capital raise.
Titomic, founded in Melbourne in 2014 to commercialize CSIRO-developed technology, has maintained steady growth since its 2017 ASX listing. The Alabama facility represents a significant step in the company’s U.S. market expansion strategy.
Source: aumanufacturing.com.au