Jun 12, 2017 | By Tess
Norwegian additive manufacturing company Norsk Titanium AS has announced the receipt of a significant investment from Triangle Holdings LP, a North Carolina aerospace investment company owned by affiliates of Fortress Investment Group LLC. Terms of the strategic investment have not been disclosed.
Norsk Titanium's MERKE IV Rapid Plasma Deposition Machine
Just a few months ago, Norsk Titanium announced plans to 3D print the first FAA-approved structural titanium components for aircraft manufacturer Boeing, using its patented Rapid Plasma Deposition additive manufacturing process. According to the company, its innovative fabrication process is capable of transforming titanium wire into complex parts at a lower cost and faster speeds than competing technologies.
With the investment from Triangle Holdings, Norsk Titanium will be able to accelerate the commercialization of its Rapid Plasma Deposition process for the aerospace sector and beyond. Since its founding in 2011, Triangle Holdings has reportedly invested more than $1.2 billion into aircraft and aerospace assets. Norsk Titanium becomes the latest.
“Based on a Strategic Cooperation Memorandum, our investment in Norsk Titanium reflects our strategy of investing in game-changing businesses across the aerospace sector,” commented Jeremy Barnes, a partner in Triangle Holdings. “We look forward to working with Norsk Titanium on proliferating its RPD technology.”
Norsk Titanium President and Chief Executive Officer Warren M. Boley, Jr. added the following statement: “Our focus is on the integration of advanced technologies with smart production and Industrial Internet-of-Things, which will bring a unique set of competences to our platform technology. The fourth industrial revolution is being designed by corporations and individuals who display great vision and bold execution, and I am immensely proud to add Fortress as a partner on this ambitious journey.”
Norsk Titanium's Boeing 787 Dreamliner structural component made using RPD
Visitors of the International Paris Airshow at Le Bourget from June 19 to 25 will get the chance to see Norsk Titanium’s 3D printed titanium parts for Boeing’s Dreamliner aircraft. The components will be showcased at the company’s booth, along with a full-scale mock-up of its MERKE IV Rapid Plasma Deposition machine on which the parts were made.
“The capabilities of Triangle and its affiliates are extraordinary, and the ambition demonstrated by this strategic investment will bring Norsk Titanium’s customers unprecedented application opportunities,” said Norsk Titanium Chairman of the Board John Andersen, Jr.
In 2016, Norsk Titanium also announced it received over $125 million to invest in the establishment of a Rapid Plasma Deposition 3D printing facility in Plattsburgh, New York. At the time, the company said its facility was expected to be up and running by the end of 2017 and is expected to create over 500 jobs.
Posted in 3D Printer Company
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Very Impressive. How can I become an investor in your company Gerald Battist Gebattist@aol.com 1588 North.Village Rd Reston, Va 20194 7034039673
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