Norway-based Norsk Titanium has completed a $10m growth debt facility with Harbert European Growth Capital Fund (HEGCF) under the company’s current aerospace production financing round.

Norsk Titanium expects to use the funds to boost its team and operations worldwide in the field of aerospace qualification and production orders for precision structural components made by the company’s patented Rapid Plasma Deposition (RPD) technology.

The company has not disclosed the details of the investment.

Norsk Titanium chief financial officer Bart van Aalst said: "Norsk Titanium is strategically expanding and the addition of growth debt allows us to diversify our financing structure while pursuing a variety of complementary opportunities, both within the aerospace and defence sector and beyond.

"Harbert’s pragmatic and entrepreneurial approach makes them an ideal partner."

"Forward-looking investors are critical to rapidly expanding organisations that strive to remain independent, and Harbert’s pragmatic and entrepreneurial approach makes them an ideal partner."

A 3D printing technology, the company’s RPD process converts titanium wire into complex components for structural and safety-critical applications in the aviation industry.

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Harbert Management senior managing director Johan Kampe said: "We chose to invest in Norsk Titanium because their Rapid Plasma Deposition 3D technology is heralded as one of the most disruptive processes in additive manufacturing, and their strong management team makes it a real game-changer in a sector so often bereft of true innovation.

"The growth potential of this company is beyond any doubt, and we are very pleased to be part of its future and hope to bring our close relationships within the technology sector to the fore."

Last July, Norsk Titanium announced that RTI International Metals (RTI), which supplies titanium and speciality metal products and services, became a strategic investor and minority partner with the company.

Under the deal, RTI made an undisclosed investment for strategic cooperation projects involving Norsk Titanium’s RPD technology.