Company Overview
Located in Minneapolis, Third Wave Systems (TWS) provides material-based, machining modeling software and services used by Fortune 500 aerospace, automotive, and cutting tool companies to optimize traditional and state-of-the-art machining processes. Using computer-aided engineering technologies, TWS software combines physics and material modeling to produce lighter, stronger, greener products at lower cost. This leads to better decisions, faster time to market, and higher profitability for customers.
Third Wave Systems’ flagship product, AdvantEdge FEM, was the first commercially-available machining simulation software to combine finite element analysis (FEA) with a custom material model. Production Module was introduced in 2003, allowing users to analyze and optimize NC programs. The success of the TWS software speaks for itself: over the past five years the technology has enabled TWS to work with the Department of Defense on numerous occasions, gaining valuable research and development knowledge through Small Business Innovative Research (SBIR) contracts and partnerships with industry leaders such as Boeing and Kennametal. Sandvik, Caterpillar, Bell Helicopter, Airbus, General Motors, and General Electric are among TWS’ national and international customer base.
Understanding the critical need to educate students in the areas of science, technology, engineering, and mathematics (STEM), Third Wave Systems conducts software workshops and licenses its technology to more than 100 academic institutions worldwide. TWS also has numerous patents pending on its simulation techniques and related process technology for producing components at 2-20 times faster than current standards.
Third Wave Systems has experienced consistent growth over the past 10 years, landing on Minneapolis/St. Paul Business Journal’s list of the 50 fastest growing private companies in the Twin Cities area in both 2007 and 2008, as well as Inc. magazine’s list of the 5000 fastest growing private companies in the United States in 2008, 2009, and 2010. In addition to Minneapolis, TWS has a remote office in Detroit and seven international distributors.