Advantage Capital announced a $3.35 million investment in Vibrant Corporation, a non-destructive testing (NDT) technology company. Advantage Capital led the round, with several pre-existing Vibrant shareholders also participating. The company will leverage this funding to expand its workforce and increase production.
Founded in 2006 in Albuquerque, New Mexico, Vibrant is a leader in the NDT space, developing the most commercially viable approach for Process Compensated Resonance Testing (PCRT) – a method of vibrating objects to test their integrity, which was initially developed at Los Alamos Laboratory.
“We are pleased to have received this funding at this critical moment in our growth trajectory,” said Lem Hunter, Chief Executive Officer, Vibrant Corporation. “With this financing, we will be able to build out our workforce with exceptional talent, continue to scale production, and importantly, stay here in the great state of New Mexico.”
In late 2021, Vibrant gained traction with Collins Aerospace in applying PCRT to replace an environmentally unfriendly and labor-intensive NDT process on commercial aircraft wheels for most Boeing and Airbus commercial aircraft.
In light of this success, the company will use this investment to fund the construction and deployment of additional testing machines for commercial aircraft wheels. Much of this funding will go directly to the company’s efforts in building advanced PCRT systems to support its rapidly growing service business in Aerospace, Power Generation, and Automotive markets.
“Vibrant is exactly the type of growth-ready business we are looking to invest in. It’s innovative, a leader in its industry and we are excited to see how this financing will help the company continue its expansion,” said Gabe Rosen, vice president, Advantage Capital.
Vibrant is committed to investing in the local community— the manufacturing team prioritizes Albuquerque suppliers whenever available, often choosing contract manufacturers and distributors within the local area.
The financing was made in connection with the Federal New Market Tax Credit (NMTC) Program, which aims to attract investment in low-income communities. By encouraging private investment, the program helps fill the financing gap that exists for many businesses in distressed areas—helping to drive job growth and economic development in the places that need it most.