Norsk Titanium has secured an investment from Silicon Valley-based Applied Ventures, the venture capital arm of Applied Materials, a specialist in materials engineering solutions used to produce chips and advanced displays.
Terms of the investment have not been released.
“Applied Ventures’ equity investment positions Norsk Titanium and our disruptive Rapid Plasma Deposition capability into the core of the Silicon Valley additive manufacturing revolution,” says Norsk Titanium chairman of the board John Andersen, Jr. “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.”
“We are pleased to add Applied Ventures to our growing list of industrial partners and shareholders that includes Alcoa, Insight Equity, Precision Holdings, Mecachrome and Bosch Rexroth,” says Norsk Titanium president and chief executive officer Warren M Boley, Jr. “We are positioned to make history as the first FAA-approved structural titanium additive manufactured parts to fly on a commercial airliner, and have strong views on further applications for our proprietary platform technology. It is great to have the support of an industry leader like Applied on this epic journey.”
“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,” says Dr Om Nalamasu, president of Applied Ventures and chief technology officer of Applied Materials. “We look forward to working with Norsk Titanium on industrial applications for its RPD technology.”