US-based Applied Ventures has completed an investment in Norsk Titanium, which provides aerospace-grade, additive manufactured, structural titanium components.
The companies have not disclosed the terms of the investment.
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Norsk Titanium board chairman John Andersen Jr said: “Applied Ventures’ equity investment positions Norsk Titanium and our disruptive rapid plasma deposition (RPD) capability into the core of the Silicon Valley additive manufacturing revolution.
“Applied’s extensive capabilities in materials engineering and process management complement our unique titanium capabilities, as well as our global expansion into new metal alloys and markets to bring Norsk’s customers unprecedented levels of productivity.”
In June, the company declared the closing of a $25m funding round.
In the following month, the company announced a $125m state investment to build an industrial grade metal additive manufacturing plant in Plattsburgh, New York, US.
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By GlobalDataIn the same month, Norsk Titanium received orders and formed strategic collaborations with Thales Alenia Space, Mecachrome and an undisclosed airframe OEM group.
Applied Ventures president Dr. Om Nalamasu said: “Applied Ventures’ investment in Norsk Titanium reflects our charter to identify and accelerate innovation around the globe, with an eye for emerging technologies where our leadership in materials engineering enables new growth markets.”
Once completed, Norsk Titanium’s facility will be the first US Federal Aviation Administration (FAA) approved structural titanium additive manufacturing facility, which will produce parts to use on a commercial plane.
The company currently produces various aircraft components with its patented RPD technology, which converts titanium wire into complex components suitable for structural and safety-critical applications.
Norsk Titanium recently said that it would receive the first of the 20 MERKE IV RPD machine at its manufacturing plant in Plattsburgh, New York, US, by the later part of this month.
Image: Applied Materials has invested in Norsk Titanium's metal additive manufacturing factory of the future. Photo: courtesy of Norsk Titanium.
