Metal Powder Works merges with K-TIG, raises AUS $10M following successful ASX listing
March 26, 2025
Metal Powder Works, based in Clinton, Pennsylvania, USA, has merged with K-Tig Advanced Welding Systems, Mile End, Adelaide, Australia. The two companies will operate under the Metal Powder Works name and retain ownership of their IP.
The new partnership has successfully raised AUS $10M through the issue of shares at $0.20 each and will be listed on the Australian Stock Exchange (ASX) under the ticker MPW. The company will list with a market capitalisation of approximately $27.9 million at $0.20 per share and will look to leverage the synergies of existing K-TIG business.
Co-Founder and Managing Director, John Barnes, said, “From my previous time in Australia working at the CSIRO, our innovations were deemed a success once they listed on the ASX. The ASX understands minerals and metals better than any market anywhere, so being a part of the ASX is significant to me personally, and professionally with Metal Powder Works as we progress to disrupt the metal powders market globally.”
“To have received such an overwhelming response to the capital raising was extremely pleasing and drives us further to deliver on the opportunities ahead. We appreciate the support of incoming institutions, high net worth shareholders and of course, the existing K-TIG shareholder base,” Barnes continued.
Established revenue streams, combination of Metal Powder Works and K-TIG to provide strong synergies
Metal Powder Works has established a revenue stream through two primary channels: direct powder sales from in-house production, which generated approximately 80% of sales income in 2023, and machine sales, accounting for roughly 20%. The company believes its business model can scale effectively across multiple sectors as demand increases for both powder and machine sales.
Metal Powder Works shipped 1,500kg of powder in 2024, predominantly focusing on its technological advantage in producing copper, copper-nickel, and bronze alloy powder for the US Defence Industrial Base.
Following the successful combination of Metal Powder Works and K-Tig, the company’s primary focus is the production of specialist Additive Manufacturing powders. However, importantly, K-TIG’s existing technology and operations will help serve overlapping end customers in sectors including defence, aerospace and nuclear.
Both Metal Powder Works and K-TIG generate revenue, with Metal Powder Works delivering $770,000 (AUS $1.24 million) in the first six months of its financial year (December 31 ending) and K-TIG generating AUS $2.2 million in sales revenue in FY24. The company has appointed its first sales professional, Ben Arnold, in line with its plan to increase sales and penetration in the sector.
