Advantage Capital – a leading impact investing firm – recently announced a $3.35 million investment in Vibrant Corporation, a non-destructive testing (NDT) technology company. And 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.
Launched 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.
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. The company will use the funding to fund the construction and deployment of additional testing machines for commercial aircraft wheels. And 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 the Aerospace, Power Generation, and Automotive markets.
Vibrant is focused on investing in the local community. The manufacturing team prioritizes Albuquerque suppliers whenever available, often choosing contract manufacturers and distributors within the local area.
The funding was made in connection with the Federal New Market Tax Credit (NMTC) Program, which aims to attract investment in low-income communities. And 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.
KEY QUOTES:
“We are pleased to have received this funding at this critical moment in our growth trajectory. 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.”
— Lem Hunter, Chief Executive Officer, Vibrant Corporation
“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.”
— Gabe Rosen, Vice President, Advantage Capital
