At the time of writing, the company’s stock fell 2.24% to trade at 60 cents.
Headquartered in Australia, Titomic specializes in industrial-scale metal laminates using patented Titomic Kinetic Fusion (TKF) technology. This allows the company to create large numbers of durable, lightweight and complex parts without being constrained by shape or size.
What drives Titomic’s stock price?
Titomic’s share price is declining today despite the move towards commercialization of TKF technology.
According to the release, Titomic advised that it had a partnership agreement with Pyne & Partners. This collaboration helps Titomic identify opportunities for government funding and sector partnerships, primarily in the defense industry.
Under this agreement, Pyne & Partners will provide services including:
- Identify and apply for government work and grants related to defense and modern manufacturing portfolios, including departments and defense services.
- Identify and leverage private sector partnership opportunities.And
- Provides Titomic with active and ongoing government support, including interest in the federal government and industry
Why Pine & Partners?
Titomic said Pyne & Partners is focused on helping clients achieve their business goals and manage risk, and has considerable knowledge of government policy and defense sectors.
The growing consultancy is headed by Christopher Pyne, the 54th Australian Defense Minister. Mr. Pine was responsible for providing a $ 200 billion defense program to strengthen Australia’s military capabilities.
Norbert Schulze, Interim CEO of Titomic, welcomed the partnership and said:
We are pleased that this agreement will raise awareness of Titomic in the market and accelerate the commercialization of new technologies.
Christopher Pyne, Chair of Pyne & Partners, added:
Pyne & Partners are excited about Titomic’s state-of-the-art manufacturing technology and look forward to working with Titomic to grow their business by securing public and private sector revenue-generating opportunities with a focus on the defense sector. I am doing it.
About Titomic’s stock price
Titomic’s share price has fallen almost 40% compared to this time last year. The company’s share price remained flat after dropping to a low of 45 cents in December.
Based on the current stock price, Titomic Market first About $ 90 million.
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Motley Fool Contributor Aaron Teboneras There are no positions in any of the listed stocks. Motley Fool Australia does not have a position in any of the listed stocks. The Motley Fool Disclosure policy.. This article contains only general investment advice (based on AFSL 400691). Approved by Bruce Jackson.
Titomic share price (ASX: TTT) falls despite positive update
Source link Titomic share price (ASX: TTT) falls despite positive update