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Norsk Titanium AS, a world chief in metallic 3D printing via its Speedy Plasma Deposition (RPD) expertise and ongoing half gross sales to the extremely regulated Industrial Aerospace trade, has launched its second half of 2021 report and presentation noting key successes.
With RPD printed components in manufacturing for the Boeing 787, Norsk Titanium builds on a powerful manufacturing basis as they broaden into different industries. Throughout the second half of 2021, Norsk Titanium continued to progress with testing for the protection trade and delivered its first industrial-scale half utilizing its Software program Growth Package, RPD Builder.
“Though our largest alternative continues to be in industrial aerospace structural components, we capitalized on the slow-down within the industrial 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 Package,” mentioned Michael J. Canario, CEO of Norsk Titanium. “We closed 2021 actively working with world, tier-one prospects throughout quite a lot of industries and half complexities, all in numerous phases of RPD expertise adoption. I’m excited to see this enlargement of our capabilities into new markets as we proceed our progress in industrial aerospace and stay up for constructing on these efforts in 2022 and past.”
Among the many key 2021 second half highlights, the corporate maintained 100% supply to all prospects
and expanded product reaches past industrial aerospace, developed and delivered the primary industrial-scale half utilizing RPD Builder to industrial companion Hittech and delivered check 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 components for supply in 2022.
Within the second half of 2021, Norsk Titanium generated income of USD $1.0 million from the sale of printed components and $USD 1.4 million in different earnings, specifically grants from the Norwegian authorities via Innovation Norway and Skattefunn. Complete income and different earnings for the complete yr 2021 was USD $5.3 million. The typical month-to-month money burn in the course of the second half 2021 was barely increased 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.
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