Even as it recently experienced some financial troubles, metal AM company Norsk Titanium (Euronext: NTI, OTCQX: NORSF), continues in its efforts to produce flying aerospace parts. A major milestone was just achieved as the company’s Rapid Plasma Deposition (RPD) process, a type of wire-based DED, was qualified by Airbus for production.
Originating from Norway, Norsk emerged as a supplier of end-use structural parts for Boeing. These are provided through a facility that was established in Plattsburgh, NY, hosting several Merke IV RPD systems. RPD printed parts are already flying on commercial aircraft, and Norsk Titanium has gained significant traction with large defense and industrial customers. Now within a multi-year collaboration with Airbus, Norsk Titanium successfully qualified its Merke IV machine and the RPD process for Airbus production.
Premium Aerotec in Varel Germany, an Airbus subsidiary, has placed an order for an initial structural part, and Norsk Titanium is currently completing delivery of the first order. The first additively manufactured preforms delivered by Norsk have been machined, qualified and installed into an A350 assembly.
This is a long-awaited result for Norsk. For the full year 2023, the Company had announced a revenue target of $7-15 million. Delays in commercial deliveries to Hittech and final qualification approval from Airbus have pushed anticipated revenues into 2024, reducing expected 2023 revenues below the published range. Norsk still set medium and long-term revenue targets of $150 million yearly in 2026.
Besides the Airbus qualification effort, Norsk is also working on qualification with US DoD prime contractors and the first production order. The company was added to Northrop Grumman’s approved special processor listings (ASPL) for the production of wire-fed rapid plasma deposition of titanium and completed part transition change board with an undisclosed DoD prime contractor. Recurring production is expected in early 2024. Norsk also completed the initial development of a large structural component for General Atomics ASI Industrial: Hittech demonstrator part and first production order. The company commenced production of an initial 30 parts under a contract awarded in late 2022.
