TAO has entered into a research agreement and option for exclusive license signed to develop titanium metal powders using the breakthrough HAMR technology invented by Dr. Z. Zak Fang and his team at the University of Utah with funding from ARPA-E, with Boeing and Arconic (formerly Alcoa, Inc.) as industrial partners. ARPA-E is a U.S. Department of Energy agency which funds transformational advanced energy technology projects which have included solid state EV battery company Quantumscape (NYSE: QS).
The HAMR technology has demonstrated the potential to produce titanium powders with;
- Low-to-zero carbon intensity
- Significantly lower energy consumption
- Significantly lower cost
- Product qualities which exceeds current industry standards
TAO’s potentially large scale titanium deposit at the Titan Project in Tennessee – coupled with development of low-to-zero carbon, low-cost titanium powders – builds a platform for TAO to become an integrated leader in the titanium supply chain for high growth sectors such as space exploration, aerospace, electric vehicles and defense, and the Company has established a commitment to low-to-zero carbon titanium metal powder with a strategic goal of true zero carbon titanium metal production by 2030.
The development of a fully integrated domestic titanium metal supply chain is of critical strategic importance for the U.S. as the country is the largest global consumer of titanium metal for aerospace and defense but is 100% import reliant on high cost and carbon intensive titanium sponge. The Company expects interest from customers in the space, aerospace, defense and EV industries, particularly those who have net zero carbon supply chain targets, and will engage with U.S. Government agencies, targeting financial and commercial benefits to accelerate development.