Norsk Titanium receives first instalment of NOK 35 million grant
July 2, 2021
Norsk Titanium AS, Hønefoss, Norway, has received the first disbursement (30%) of a NOK 35 million (approx. $4 million) grant awarded by Innovation Norway, following a successful private placement and its listing on the Euronext Growth Oslo exchange in May 2021.
The grant was originally awarded to the company at the end of 2020 and will support further process development and automation of Norsk Titanium’s proprietary Rapid Plasma Deposition (RPD) process, a form of plasma-based Directed Energy Deposition (DED) metal Additive Manufacturing.
“Norsk Titanium is innovating the future of metal,” stated Odd Terje Lium, VP, Engineering. “We are uniquely positioned to disrupt the titanium manufacturing industry, and the Innovation Norway grant supports our technology development efforts at Eggemoen in Norway. Our sharp focus on research and development of new and improved technologies for 3D printing secures continuous delivery of superior metallurgy technology to our customers.”
The Eggemoen facility is the company’s centre for research and development and holds three of Norsk Titanium’s thirty-five proprietary RPD Additive Manufacturing machines. The remainder is located at the company’s American industrial production facilities in Plattsburgh, New York.
