Norsk Titanium receives investment from Triangle for rapid plasma deposition development
Norwegian additive manufacturing specialist Norsk Titanium has received an undisclosed investment from Triangle Holdings, an aerospace investment company and affiliate of Fortress Investment Group.
The strategic investment is expected to enable Norsk Titanium to extend its Rapid Plasma Deposition capability, which transforms titanium wire into complex components for the commercial aerospace sector.
Norsk Titanium has not disclosed the details of the investment, which follows the company’s plan announced in March to deliver the world’s first US Federal Aviation Administration (FAA) approved 3D-printed, structural titanium components to Boeing.
Since 2011, Triangle has invested more than $1.2bn in aircraft and aerospace related assets.
Norsk Titanium president and CEO Warren Boley Jr said: “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.”
Last July, Norsk Titanium announced a $125m state investment to build the world’s first industrial scale metal additive manufacturing plant in Plattsburgh, New York, US.
The company is set to present its RPD components developed for Boeing’s Dreamliner aircraft at the upcoming International Paris Airshow event to be held next week in France.