Norsk Titanium (OTCQX:NORSF) has received another production contract for silicon wafer carrier trays from Hittech Bicha B.V. in the Netherlands.
These trays are used in semiconductor chipmaking equipment for ASML, a key player in the semiconductor industry.
This new order is the third production contract Norsk Titanium (OTCQX:NORSF) has received from Hittech Bicha BV since the collaboration began in early 2023, signifying the transition of this part into full rate production.
"We have grown from a technology development company to an industrial scale manufacturer,” said Nicholas Mayer, Norsk Titanium VP Commercial, adding that the company and expects to deliver over 13 metric tons of additively manufactured titanium to the customer in 2024.
Each carrier tray, weighing approximately 90 kilograms, takes about two days to print. Norsk Titanium's Rapid Plasma Deposition (RPD) technology offers significant savings in raw material and energy compared to traditional manufacturing methods.
Norsk Titanium has recently achieved several qualification and production milestones in its core commercial aerospace and defense markets.
The expansion into the industrial and semiconductor markets represents a third pillar in the company's growth strategy, it said, and is expected to contribute approximately 15% of total revenue this year.