Oslo, 6 November 2025: Norsk Titanium AS (Euronext: NTI, OTCQX: NORSF), a global
leader in additive manufacturing for aerospace-grade structural titanium
components using its patented Rapid Plasma Deposition® (RPD®) technology, today
provides an operational update for the third quarter and first nine months 2025.
Key events included:
o Fabrizio Ponte appointed new CEO to lead next growth phase for Norsk Titanium
o Raised gross USD 22 million in new equity to extend financial runway
o Revenue of USD 0.6 million in Q3, bringing revenue for the first 9 months to
USD 2.6million
o Reduced monthly cash burn to USD 2.4 million from USD 2.9 million in 1H'25
o 56 parts currently in serial production, added two new industrial parts in
July of 2025
o Advancing discussions with Airbus Aerostructures regarding scope and timing of
the third production order
o Chosen by the Innovation Capability and Modernization (ICAM) Office under the
U.S. Department of Defense to participate in a major funded development contract
for components used on vehicles for land, sea and space applications
o Actively pursuing high-potential industrial market opportunities, primarily in
energy infrastructure
Leadership Transition to Accelerate Growth, Scalability, and Execution
With the appointment of Fabrizio Ponte as Chief Executive Officer, Norsk
Titanium enters the next stage of its growth journey - sharpening its focus on
delivering on the existing customer program pipeline, winning new customers
across a diversified range of industries, scaling operations, and ensuring
disciplined execution on the path to profitability.
Mr. Ponte brings nearly three decades of global leadership experience from
Syensqo (formerly Solvay), where he successfully scaled advanced materials
businesses, defined and executed robust market penetration strategies, and
managed large, complex organizations serving aerospace, defense, energy,
automotive, and semiconductor markets - the very same industries Norsk Titanium
targets today.
"Fabrizio Ponte's deep expertise in technology-driven industrial markets,
combined with a proven ability to build trusted customer partnerships and drive
profitable growth, will be instrumental as Norsk Titanium executes strategies to
accelerate customer adoption on its path toward sustainable profitability", says
John Andersen, Jr., Chair of Norsk Titanium AS.
Having assumed the position as CEO in early October, Mr. Ponte, together with
the leadership team, is reviewing the key levers to execute on the company's
strategic roadmap, with a particular focus on securing the customer pipeline,
scaling operational capabilities and efficiently deploying resources over the
coming years.
Operational Review
In the third quarter, Norsk Titanium continued recurring deliveries of qualified
parts in serial production to Boeing and Airbus, and their respective supply
chain partners, as well as deliveries to key contractors to the U.S. Department
of Defense (U.S. DoD). The company also advanced two new development contracts
with major U.S. DoD contractors. In the industrial segment, two new parts
transitioned into serial production during the quarter for use in energy and
infrastructure applications, demonstrating the adaptability of RPD® technology
beyond aerospace.
Commercial discussions with Airbus Aerostructures regarding the third production
order continued during the quarter, allowing Norsk Titanium to deepen its
engagement with Airbus and expand the scope of discussions beyond the third
production order. The company's proprietary Directed Energy Deposition (DED)
technology, RPD®, supports Airbus's ambitious plans to expand the use of
additive manufacturing for structural titanium components across all its
aircraft programs. In September, Norsk Titanium convened a collaborative
session at its Plattsburgh facility focused on expanding the application of DED
technology in aircraft manufacturing, with delegates from Airbus and the
regulatory authorities in Europe and the U.S.
Following the expansion of the sales organization initiated in the first
quarter, the company conducted a comprehensive opportunity mapping exercise and
launched a targeted go-to-market strategy in defense and energy markets, which
represent a serviceable obtainable market of USD 3.0 billion and USD 0.9
billion, respectively. These efforts are already gaining strong traction in the
defense sector, with growing interest from several major players in the energy
sector.
As a direct result of its focused defense market strategy, the company is in
advanced negotiations with the ICAM office on a funded qualification program
aimed at expanding the application of RPD® technology across multiple domains
within the defense sector, including naval, aerospace, terrestrial, and space
platforms. ICAM, which oversees efforts to strengthen the U.S. industrial base,
focuses on building key domestic supply chain capabilities and reducing reliance
on global sources for critical defense needs. This positions RPD® as a strategic
enabler for the U.S. DoD to increase production rates and reduce lead times
across essential manufacturing programs. The initiative is expected to run over
an 18-month period, with scope, timing, and contracting details expected to be
finalized following the resolution of the U.S. government shutdown.
Norsk Titanium implemented several operational improvements in the third quarter
that will boost production efficiency, expand capacity, and reduce costs while
preserving financial flexibility as the company scales. Key initiatives included
transitioning from one to two machines per operator by implementing control
systems based on proprietary software and qualifying new downstream suppliers to
mitigate potential bottlenecks. These measures are designed to strengthen the
organization's readiness for higher production volumes.
Financial Review and Outlook
Revenue for the first nine months of 2025 was USD 2.61 million, of which USD
0.63 million was generated in the third quarter. Average monthly cash burn was
lowered to around USD 2.4 million in the third quarter, down from around USD 2.9
million in the first half 2025. Having made certain investments to build
operational capacity during the first half of 2025, the company is now better
positioned to align the cost development with the revenue trajectory going
forward.
To strengthen its financial position and extend the cash runway, in August Norsk
Titanium raised approximately USD 18 million in gross proceeds in a private
placement fully underwritten by its three largest shareholders. The transaction
was followed by a repair offering in September, in which the company raised
approximately USD 4 million in additional equity. At the end of September, the
company held a cash balance of USD 22.6 million, excluding the net proceeds from
the repair offering.
The modest revenues during Q3 underscore the challenges of penetrating highly
regulated sectors like aerospace and defense, where achieving commercial scale
can be a prolonged process, even with qualified technology. These challenges,
however, are not unique to Norsk Titanium, and the company believes that its
material qualifications and the forthcoming inclusion of its material properties
in the Metallic Materials Properties Development and Standardization (MMPDS)
ensures that it remains well ahead of its competitors, providing a sustainable,
long-term competitive advantage.
To complement its aerospace efforts and accelerate near-term growth, the company
has launched a revenue diversification strategy focused on sectors with faster
development cycles and lower regulatory hurdles. This includes expanding into
industrial automation, energy systems, and advanced manufacturing-markets that
offer quicker sales conversion and more transactional revenue opportunities. The
focus is on accelerating the path to profitability through targeted expansion
into faster-moving, less regulated markets.
The company is actively working both to leverage existing customer relationships
and to broaden the customer base in current and new markets. Deliveries to its
main customer Hittech in the semiconductor market are set to resume in the
fourth quarter of 2025, although at a lower production rate than in 2024. The
delayed scaling of new components for the aerospace industry means that revenues
are expected to remain modest in the fourth quarter as well. However, Norsk
Titanium will enter 2026 with a strengthened organization, improved financial
flexibility, more efficient production and value chains, and a clear plan for
disciplined execution and long-term profitable growth.
For more information, please contact:
John Andersen Jr., Chair of the Board of Norsk Titanium AS
Email: john.andersen@scatec.no
Tel: +47 901 74 080
Fabrizio Ponte, CEO Norsk Titanium AS
Email: Fabrizio.ponte@norsktitanium.com
Tel: +1 404 426 2270
Ashar A Ashary, CFO Norsk Titanium AS
Email: ashar.ashary@norsktitanium.com
Tel: +1 518 556 8966
Important notice:
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock
exchange announcement was published by Anne Lene Gullen Bråten, VP Finance of
Norsk Titanium AS, at the time and date stated above in this announcement.
About Norsk Titanium:
Norsk Titanium is a global leader in metal 3D printing, innovating the future of
metal manufacturing by enabling a paradigm shift to a clean and sustainable
manufacturing process. With its proprietary Rapid Plasma Deposition® (RPD®)
technology and installed production capacity to generate annual revenues of
approximately USD 300 million, Norsk Titanium offers cost-efficient 3D printing
of value-added metal parts to a large addressable market. RPD® technology uses
significantly less raw material, energy, and time than traditional
energy-intensive forming methods, presenting customers with an opportunity to
better manage input costs, logistics, and environmental impact. RPD® printed
parts are already flying on commercial aircraft, and Norsk Titanium has gained
significant traction with large defense and industrial customers.
For the latest news, go to www.norsktitanium.com or follow us on LinkedIn.
Forward Looking Statements:
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date and are
subject to change without notice, and the company and its affiliates expressly
disclaim any obligation or undertaking to update, review or revise any statement
contained in this announcement whether as a result of new information, future
developments or otherwise.