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Low Cost Titanium - A Global Opportunity

Kartik Rao

IOM3 - London, UK12th December 2013

Private and Confidential © 2013 Metalysis Ltd.

Global Titanium Markets

Source: Roskill, ITA, SMR

• High value metal - annual volumes of ~170,000 tonnes in a market worth between $5-10 billion

• The market for additive manufacturing is currently worth over $1 billion and is growing at 20% CAGR. The market for powders is expected to grow to ~$30 billion by 2025

• Additive manufacturing grade powder prices range from $200-400/kg

• Aerospace grade– Demand from the aerospace industry remains strong due to use of composites and drive

for fuel efficiency

• Industrial grade– Used in the petrochemical, desalination and medical industries – Current market size is constrained by the cost of the metal, poised to expand rapidly if

the cost can be lowered

• A significant value opportunity

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• Electrolysis process’ are regarded as highly efficient

• Relatively low temperature operation and lower energy consumption

• Inexpensive components for electrolysis – cheap, readily available salt and carbon

• No toxic gases used

• Powder feed to powder product

Simple, highly cost effective and greener process

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A range of tailored titanium powder products

COARSE POWDER

DIRECT ORE & PIGMENT DERIVED POWDER

SPHERICAL POWDER

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Titanium ore$0.6/kg

TiO2 pigment$3.2/kg

MetalysisProcess

Titanium powder could replace mill products and enables near net shape production and 3D printing

Significant potential for reducing titanium processing costs

Ti powder$200-400/kg

Mill products$50-70/kg

Billet$40/kg

Ingot$25/kg

Kroll sponge$11-15/kg

TiCl4

$1.5/kg

Sphericalpowder

Metalysispowder

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Halving the price of aluminium has generated at least a ten-fold volume growth for aluminium

Titanium market may have huge growth potential as per aluminium

Aluminium industry price development Aluminium industry volume development

Source: USGS, European Aluminium Association

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Titanium market can expand by displacing steels and other alloys

Source: Roskill presentation, Minor Metals Conference 2013

Titanium has the potential to displace certain steels, stainless steels and high performance alloys, primarily in corrosion resistant applications

Al and Mg

Low cost Titanium

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Low Cost Titanium: Routes to market

Ti powder

Press & Sinter

Additive manufacturing

CIP/HIP

Direct powder

extrusion

Direct powder rollingExtrusion Rolling Machining

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Research conducted with a wide range of parties

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Summary

• Titanium has a very attractive combination of properties such as high strength, low density, excellent corrosion resistance, good high temperature performance

• Titanium’s major problem historically has been its high cost of extraction in-spite of its high abundance in the Earth’s crust

• Metalysis has developed a unique technology originally based on the FFC® Process invented at the University of Cambridge, capable of producing a vast range of metal powders for use in conventional and additive manufacturing at substantially lower cost

• Metalysis has been able to accelerate development with the help of grants, universities and potential end users.

• However, significant further effort is required to further innovation, development and commercial exploitation to develop a competitive UK advantage.

• Areas for focus: Alloy development, powder metallurgy, direct rolling and extrusion

Private and Confidential © 2013 Metalysis Ltd.