Amaero (ASX:3DA) has just pulled off a deal that further establishes its first-mover advantage: The manufacturer has locked in an exclusive five-year supply agreement with Titomic (ASX:TTT) — and is backing it up with bold revenue forecasts.
What the deal means
Exclusivity is the clear headline. Amaero is now the only supplier of spherical titanium and refractory metal powders for Titomic’s cold spray technology, which the 3D metal printing company uses to build and repair parts for defence, aerospace, and space applications. Unless Amaero drops the ball on certification in the next twelve months, Titomic can’t go elsewhere for these cornerstone powders.
This article is disseminated in partnership with Amaero Ltd. It is intended to inform investors and should not be taken as a recommendation or financial advice.
That’s a big deal — these powders are mission-critical. They go into rockets, fighter jets, satellites, and all the gear you definitely don’t want to run short on.
“The powder that’s being specified by the defence primes for these mission-critical parts is spherical powder… which is what Amero makes,” Amaero’s Chairman and CEO, Hank Holland, explained to Hotcopper. “In order to qualify parts for production, we think it will be essential to have spherical powder, and it will be important that the powder used for development programs is the same powder used for production programs.”
Jim Simpson, Titomic’s CEO and Managing Director, echoed the same: “This exclusive collaboration with Amaero ensures that the powders we use for first article demonstrations will be the same powders qualified for production, giving our customers confidence in supply chain continuity and performance.”
By aligning with Titomic with this deal, Amaero is continuing its strategy to create exclusive long-term agreements with leaders in key verticals; steadily carving out a role in industries where security and supply reliability are everything. (This follows a long-term agreement with Castheon/ADDMAN, the leader in 3D printing of C103 and refractory alloys, and Velo3D, the leading “Made in USA” 3D printing equipment OEM.)
Cash-wise, the deal isn’t a company-maker, but it’s nothing to sniff at either. Amaero management suggests it should add as much as 5% to 10% to Amaero’s FY26 revenue — and it sets Amaero as a trusted player in another advanced manufacturing modality; cold spray.
Eye-popping revenue targets
All this has led Amaero to lay out some impressive-looking guidance. For FY26, the company is now tipping $30 million to $35 million in revenue; an increase of up to 900% when compared to last year.
The first quarter alone is expected to come in at $5.5 million, five times what it did in the same period through FY25. Around 40% of the year’s revenue is expected that half; the rest will be weighted to the back end.
Considering Amaero has often been seen as “potential” over delivery, this delivers a new message: This is a must-watch business now scaling up.
Backed by fresh capital
Of course, that kind of growth doesn’t come for free. Amaero has just raised $50 million through a share placement at 40 cents a pop, with an extra Share Purchase Plan on offer for existing shareholders.
So where’s the cash going? Two big projects
That facility Amaero now has in its pocket will be going towards two key projects, both of which build upon its first mover advantage as the largest capacity U.S. domestic producer of refractory and titanium alloy powders. They’ll further improve unit cost economics, which are already the lowest cost for spherical refractory and titanium powders — and they’re about continuing to lean in and make long-term capital investments that establish a uniquely differentiated market position and address priority national policy initiatives to strengthen the defence industrial base and to create a more resilient and more scalable sovereign manufacturing capability.
The first is a $15M investment into an argon gas recycling system expected to cut production costs by as much as 10% and pay for itself in just over two years.
“We are already the largest capacity and the lowest cost U.S. domestic producer of titanium spherical powder,” Mr Holland told HotCopper, “and by investing in argon recycling — [which] others won’t have the scale to do so — it will yet again significantly reduce our cost basis and improve our unit economics.”
And, Amaero will pick up a fourth EIGA atomiser, the machine that actually makes the powders. That’s due by mid-2027 and will provide additional capacity to meet large commercial opportunities.
Why now matters
Here, it’s all about timing. Governments everywhere are talking about re-shoring supply chains, especially in defence and aerospace. The bottom line is nobody wants to rely on overseas suppliers for critical inputs anymore, and powders like the ones Amaero makes are right at the start of those supply chains.
By locking in this deal with Titomic, Amaero hasn’t just won a customer — it’s positioning as a central part of that sovereign capability push.
The full stop on Amaero
Amaero is at an inflection point. It has an exclusive deal in hand, a clear path to exponential revenue growth, and fresh funding. There’s still execution risk, of course, with certification milestones to be hit, new projects delivered on time, and forecasts met, and Mr Holland admits it’s “never a straight line in manufacturing” — but there’s plenty to love as the company scales up.
The direction is unmistakable: Amaero is moving from promise to performance. If it can deliver, the company could soon become a go-to supplier of critical powders for industries where failure simply isn’t an option.
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