Norsk Titanium generates income of USD $1.0 million in FY 2021
2 mins read

Norsk Titanium generates income of USD $1.0 million in FY 2021


Keep updated with all the things that’s occurring within the great world of AM through our LinkedIn group.

Norsk Titanium AS, a world chief in metallic 3D printing by means of its Fast Plasma Deposition (RPD) know-how and ongoing half gross sales to the extremely regulated Industrial Aerospace business, has launched its second half of 2021 report and presentation noting key successes.

With RPD printed elements in manufacturing for the Boeing 787, Norsk Titanium builds on a robust manufacturing basis as they broaden into different industries. In the course of the second half of 2021, Norsk Titanium continued to progress with testing for the protection business and delivered its first industrial-scale half utilizing its Software program Growth Equipment, RPD Builder.

“Though our largest alternative continues to be in business aerospace structural elements, we capitalized on the slow-down within the business aerospace market to broaden our attain to the protection sector and different industries, which has allowed us to additional develop our product design capabilities. Within the second half of 2021, we achieved a serious milestone by delivering the primary half designed with our RPD Builder Software program Growth Equipment,” stated Michael J. Canario, CEO of Norsk Titanium. “We closed 2021 actively working with international, tier-one clients throughout quite a lot of industries and half complexities, all in several levels of RPD know-how adoption. I’m excited to see this growth of our capabilities into new markets as we proceed our progress in business aerospace and sit up for constructing on these efforts in 2022 and past.”

Norsk Titanium generates revenue of USD $1.0 million in FY 2021 and maintains 100% on-time part deliveries in commercial aerospace

Among the many key 2021 second half highlights, the corporate maintained 100% supply to all clients
and expanded product reaches past business aerospace, developed and delivered the primary industrial-scale half utilizing RPD Builder to industrial associate Hittech and delivered take a look at materials to 2 main U.S. Division of Protection (DoD) prime contractors, supporting their materials specification improvement. Norsk Titanium additionally accomplished full-scale article testing with one U.S. DoD prime contractor (and acquired a contract for follow-on improvement), delivered a 700mm half to an Airbus tier-one provider for machining trials and
commenced printing of Airbus qualification elements for supply in 2022.

Within the second half of 2021, Norsk Titanium generated income of USD $1.0 million from the sale of printed elements and $USD 1.4 million in different earnings, specifically grants from the Norwegian authorities by means of Innovation Norway and Skattefunn. Complete income and different earnings for the total yr 2021 was USD $5.3 million. The common month-to-month money burn throughout the second half 2021 was barely greater than within the first half of 2021 at USD $1.9 million. Norsk Titanium ended the interval with a money stability of USD $22.9 million.

Leave a Reply

Your email address will not be published. Required fields are marked *