Norsk Titanium AS: Receiving Grant From Innovation Norway
Oslo, Norway – June 28, 2021: Norsk Titanium AS (Norsk Titanium; Euronext: NTI), a global leader in metal 3D printing of aerospace grade titanium components, has received the first disbursement of 30 percent of a NOK 35 million grant awarded by Innovation Norway. The release of funds follows a successful private placement and listing on the Euronext Growth Oslo exchange in May. The grant from Innovation Norway was awarded to Norsk Titanium at the end of 2020, and will support further process development and automation of Norsk Titanium’s proprietary RPDTM technology.
“Norsk Titanium is innovating the future of metal. We are uniquely positioned to disrupt the titanium manufacturing industry, and the Innovation Norway grant supports our technology development efforts at Eggemoen in Norway. Our sharp focus on research and development of new and improved technologies for 3D printing secures continuous delivery of superior metallurgy technology to our customers”, says Odd Terje Lium, VP Engineering at Norsk Titanium.
The Eggemoen facility is Norsk Titanium’s center for research and development and holds three of Norsk Titanium’s 35 proprietary RPDTM 3D printing machines, with the remainder located at the company’s industrial rate production facilities in Plattsburgh, New York in the US.
Norsk Titanium’s research, testing and analysis of both process and output ensures that the company’s titanium components meet all client specifications and industry standards. Norsk Titanium’s commitment to testing and quality assurance enabled the company to become the first supplier of aerospace-grade, 3D-printed, structural titanium parts to a commercial aerospace original equipment manufacturer (OEM). For further information, please contact:
+1 (518) 556-8966
About Norsk Titanium
Norsk Titanium AS was founded in 2007 in Norway and has pioneered the use of its patented additive manufacturing process, Rapid Plasma Deposition™ (RPD™). It has been supplying flight qualified structural components since 2017, and today the company operates manufacturing facilities in the State of New York and Norway. The company is distinguished in the aviation industry by its proprietary RPD™ technology that transforms titanium wire into complex components suitable for structural and safety-critical applications. Norsk Titanium is a supplier to commercial aerospace Tier-1 manufacturers and is committed to cost-reducing aerostructures and jet engines for the world’s premier aerospace companies. RPD™ is an NTI proprietary process for manufacturing 3D-printed, structural titanium, delivering substantial lead-time and cost savings for aerospace, defense and commercial customers.