Oslo, 7 May 2026: 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 first quarter of 2026.
Key events:
• Revenue totaled USD 1.1 million in Q1 2026, up from USD 0.6 million in Q1 2025.
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• Average monthly cash burn of USD 2.1 million, in line with plan.
• Signed a collaboration agreement with Airbus to jointly develop and document the Direct Energy Deposition (DED) process for Norsk Titanium’s RPD® technology, including installation of a Merke IV® RPD® machine at Airbus’ Varel production facility — a pivotal step toward scaled production adoption.
• During the quarter, the Company resumed deliveries of titanium wafer carrier trays to Hittech in the Netherlands, with 2026 volumes expected to increase multiple-fold compared with 2025.
• Successful qualification and transition to serial production of titanium components developed in collaboration with General Atomics Aeronautical Systems, Inc. (GA-ASI).
• Awaiting contract awards under two U.S. Department of Defense-funded qualification programs with the U.S. Navy and U.S. Air Force, while expanding engagements with prime defense contractors.
• Awarded the Safran 2026 Supplier Innovation Award in April, validating Norsk Titanium’s value proposition as a key enabler of innovative additive manufacturing solutions.
• As previously announced, the Company intends to raise additional capital during 2026 based on continued strong support from its largest shareholders.
“During the first quarter, we continued to strengthen the commercial foundation of the business. Closer customer alignment, clearer milestones and a more disciplined execution model contributed to higher revenue and further strengthened our progress toward a broader production ramp-up,” says Fabrizio Ponte, CEO of Norsk Titanium.
Norsk Titanium is continuing its transition to a commercially accountable operating model, with greater emphasis on converting qualified programs into recurring production revenue. This transition is supported by structured program execution, disciplined milestone management and closer integration with large customer programs.
Core OEM programs in Aerostructures, Engines, and Defense
Aerostructures remain Norsk Titanium’s largest market opportunity, with Airbus as the leading strategic customer. On 3 March, Norsk Titanium and Airbus signed a collaboration agreement to jointly develop and industrialize the RPD® process specification, representing an important step toward scaled production and supporting Airbus’ broader strategy to advance DED solutions for titanium parts manufacturing. This collaboration agreement adds to the existing long-term Master Supply Agreement (MSA) covering the supply of RPD® titanium parts for Airbus’ A350 program. Deliveries under the MSA are progressing as planned, while efforts to secure a third production order continue.
After the end of the quarter, Norsk Titanium received the Safran 2026 Supplier Innovation Award. Over several years, Norsk Titanium and Safran Landing Systems have worked together to advance the application of Norsk Titanium’s RPD® technology in landing gear systems, highlighting the potential for additive manufacturing in critical aerospace structures.
Beyond aerostructures, RPD® technology addresses a significant market opportunity for titanium and specialty alloys in static engine structures, and the Company is advancing qualification programs with a leading engine OEM.
In Defense, Norsk Titanium announced on 27 February the successful qualification and transition to structural production of titanium components developed in collaboration with General Atomics Aeronautical Systems, Inc. (GA-ASI). This marked an important commercial milestone and further demonstrated the industrial maturity and scalability of RPD® in mission-critical applications. During the quarter, the Company also expanded its engagement with other prime defense contractors. The current geopolitical environment is contributing to increased defense-sector interest in additive manufacturing as industry participants seek to address supply chain constraints and support the replenishment of critical inventories.
Norsk Titanium is also awaiting contract awards under two major U.S. Department of Defense-funded multi-year development programs for the U.S. Navy and the U.S. Air Force. In parallel, capability assessments initiated by prime defense contractors in Q4 2025 progressed toward completion during the first quarter.
Short-cycle opportunities
Norsk Titanium continued to build a pipeline of shorter-cycle industrial opportunities across semiconductors, energy and other industrial markets. Compared with aerospace programs, these applications typically involve shorter qualification timelines and can convert to revenue more quickly.
During the quarter, the Company resumed deliveries of titanium wafer carrier trays to Hittech in the Netherlands. The program is showing significant growth, supported by sharply increasing demand for semiconductor chipmaking equipment used in AI applications. After the end of the quarter, Norsk Titanium announced an expansion of its partnership with Hittech, supporting expectations for a multiple-fold increase in semiconductor business volumes in 2026, with volumes expected to more than double again through 2027.
RPD® Ecosystem
As part of the collaboration with Airbus, Norsk Titanium is installing one of its Merke IV® RPD® machines at Airbus’ production facility in Varel, Germany, enabling joint technical evaluation of the RPD® manufacturing process, control systems and validation data. This supports the transition from part-specific qualification toward a broader, process-based methodology — which is expected to simplify the introduction of additional parts over time.
The Company’s RPD® Ecosystem strategy is targeting leading OEMs across aerostructures, engines, defense and selected industrial markets. Through this approach, Norsk Titanium aims to embed its technology, process know-how and industrial capabilities more deeply into OEM supply chains. The inclusion of RPD® titanium alloy material properties in the Metallic Materials Properties Development and Standardization (MMPDS) Handbook in the fourth quarter of 2025 continued to support customer interest across aerospace, engines, and defense. As a result, the Company is seeing a growing pipeline of production and qualification programs supporting its RPD® Ecosystem strategy.
Financial Review
Revenue in Q1 2026 totaled USD 1.1 million, nearly double the Q1 2025 revenue of USD 0.6 million. The increase reflects continued progress across funded development programs and early-stage commercial activity. The Company expects continued year-on-year revenue growth, with revenue in 2026 expected to be weighted toward the second half of the year.
Average monthly cash burn in Q1 2026 was USD 2.1 million, an improvement from the USD 2.3 million reported in Q4 2025. The Company ended the quarter with a cash balance of USD 13.3 million, including the impact of foreign exchange gains. Quarterly cash burn levels may vary depending on the timing of material procurement and investments in new product introductions to support upcoming customer programs.
As announced in the operational update for Q4 2025, the Company is preparing to raise additional capital in 2026, in a process supported by its largest shareholders.
For more information, please contact:
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 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Anne Lene Gullen Bråten, Vice President Finance of Norsk Titanium, 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 prime defense contractors 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.
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