Tawazun Strategic Development Fund (SDF) and Titomic, an Australian company, have signed a collaboration agreement to assess the potential of setting up a joint venture industrial scale 3D manufacturing facility in the UAE.
The proposed manufacturing unit will provide advanced 3D printing technologies for large products and components at industrial scale for a variety of industries mainly focusing on aerospace, defense, oil and gas and mining in the UAE, said a statement.
The advanced technology additive manufacturing (3D Printing) plant will employ next-generation Industry 4.0 methods and industrial-scale automated production using high-performance metal alloys, including titanium for a variety of industry applications.
In addition, the 3D printing and manufacturing plant would also act as the distributor and after sale services center for Titomic products.
Titomic is an Australian listed public company that utilises patented additive manufacturing (3D Printing) technology with a reduced carbon footprint, robotic automation, Industry 4.0, and specialty materials expertise to create high-performance products and solve complex engineering challenges.
The MoU was signed by Dr Andreas Schwer, Chairman of Titomic Limited, and Mohamed Musabah Al Mazrouei - Director, Venture Investments, SDF.
Strategic Development Fund (SDF), the investment arm of Tawazun Economic Council, is focused on financial return and economic impact within UAE’s strategic sectors, through equity investment in local and international partnerships and developmental funding towards UAE’s private sector. -TradeArabia News Service