Titomic, a manufacturer of cold-spray additives, saw its share price rise as much as 11.8% to A$0.019, a high not seen since July 18.

The stock recorded its most significant intraday percentage gain since July 28.

The company reported that it had received an order for a high-pressure, cold-spray system which is to be supplied to Sabanci University in Turkey.

The system, sold for A$2.4 million for the university’s research and development needs, represents a significant contract for the company.

Despite this positive news, as of the last close, Titomic’s stock was down 76.3% year to date.

Titomic is an advanced materials and applications company specializing in the commercialization of lab-to-fabrication additive manufacturing techniques.