Titomic Limited (ASX:TTT) has signed a Memorandum of Understanding (MoU) with United Arab Emirates-based Tawazun Strategic Development Fund (SDF) to assess the potential of a joint venture to establish an additive manufacturing line.
The proposed manufacturing line will produce 3D printing technologies for use at an industrial scale, mainly focusing on aerospace, defence, oil and gas and mining in UAE.
Leveraging TITOMIC’s 3D printing technology, the advanced technology additive manufacturing plant will incorporate Industry 4.0 methods and industrial-scale production using metal alloys such as titanium, to provide UAE with scale 3D printing capability.
TITOMIC, an ASX-listed company, is known for its patented 3D printing technology that leverages robotic automation, Industry 2.0, and specialty materials while using reduced carbon footprint.
Additionally, the manufacturing plant will function as both a distributor and after-sale services center for TITOMIC products.
TITOMIC Chairman Dr Andreas Schwer and Mohamed Musabah Al Mazrouei – Director, Ventures Investments, SDF – signed the MoU.
Strategic Development Fund (SDF) is the investment arm of Tawazun Economic Council.
SDF oversees equity investments in local and international partnerships and developmental funding towards UAE’s private sector.