Norsk Titanium closes Applied Ventures investment

Norsk Titanium AS, supplier of aerospace-grade, additive manufactured, structural titanium components has recently closed on an investment from Silicon Valley-based Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc. Applied Materials is a specialist in materials engineering solutions used to produce virtually every new chip and advanced display in the world.

Applied Ventures’ equity investment positions Norsk Titanium and our disruptive Rapid Plasma Deposition™ capability into the core of the Silicon Valley additive manufacturing revolution,” said 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.”

In June 2016, Norsk Titanium declared the closing of a USD 25M funding round, and in July 2016 announced a USD 125M state investment to build the world’s first industrial scale metal additive manufacturing plant in Plattsburgh, New York.In the same month, at the 2016 Farnborough International Airshow, Norsk Titanium declared orders and strategic partnerships with Thales Alenia Space, Mecachrome and a leading airframe OEM.