Norsk Titanium AS, a supplier of aerospace-grade, additive manufactured, structural titanium components has recently closed a USD 10M growth debt facility with Harbert European Growth Capital Fund I (HEGCF) as part of the company’s current aerospace production financing round.
The funds will be used to further strengthen Norsk Titanium’s leadership team and operations worldwide in support of aerospace qualification and production orders for precision structural components produced by the company’s patented Rapid Plasma Deposition™ (RPD™) technology. The investment was led by Fahad Khan at HEGCF. “Norsk Titanium is strategically expanding and the addition of growth debt allows us to diversify our financing structure while pursuing a variety of complementary opportunities, both within the aerospace and defense sector and beyond,” said Bart van Aalst, Chief Financial Officer of Norsk Titanium. “Forward-looking investors are critical to rapidly expanding organizations that strive to remain independent, and Harbert’s pragmatic and entrepreneurial approach makes them an ideal partner to a company like Norsk Titanium,” concluded Van Aalst.
Norsk Titanium will be putting its RPD™ technology on display at the 2016 Farnborough International Airshow, allowing a global audience to witness unprecedented manufacturing efficiencies from the company’s MERKE IV™ line of production machines.