Third Wave Systems, Inc.

Eden Prairie, MN · Aerospace · Private

Physics-based modeling and process optimization software for finish machining of Carbon/Carbon (C/C) composite components

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Updated Oct 23, 2026

Sector: Aerospace
Headquarters: Eden Prairie, MN
Total capital: $56M

Federal grants: $2.4M; 4 awards · 2016–2022; Rank in peer group#54 of 55
Private capital raised: None on recordNo Form D filings on SEC EDGAR. Some raises are not filed.
Federal contracts: $53.7M; 29 awards · Defense; Rank in Aerospace#72 of 1335
Granted patents: None on recordNo USPTO grants. Applications publish after 18 months.

Capital timeline

Latest events

Apr 2025Federal contractDefense · Digital Engineering Enabled Workforce Development$6.2M
Sep 2023Federal contractDefense · Adaptive Modeling For Low-cost Titanium$15.2M
May 2022Federal grantDefense · Phase II · Increased Production Yield of Carbon/Carbon Composites via Machining Optimization$750K
Apr 2021Federal contractDefense · FX211-CSO1-0120, Increase Yield Production Of Carbon/carbon Composites Via Machining Optimization$50K
Mar 2021Federal grantDefense · Phase II · Modeling Tools for the Drilling of Polymer Matrix Composites (PMCs)$746K
Feb 2021Federal contractDefense · Advanced Modeling Technologies For Machining Additive Materials$50K
Dec 2019Federal contractDefense · Research And Development$1.1M

Show 26 earlier federal awards

Dec 2019Federal contractDefense · Machining Modeling Technology For Nickel Superalloy Components In Small Turbine Engines$14M
Oct 2018Federal contractDefense · Modeling Tools For The Drilling Of Polymer Matrix Composites$149K
May 2018Federal grantDefense · Phase I · Precision Machining of Composite Structures$125K
May 2018Federal contractDefense · Progress Report Igf::ot::igf$225K
Sep 2016Federal contractDefense · Igf::ot::igf:, Machining Toolpath$62K
Jul 2016Federal grantDefense · Phase II · Modeling Tools for the Machining of Ceramic Matrix Composites (CMCs)$750K
Jun 2015Federal contractDefense · Igf::ot::igf Multi-physics-based Intelligence Sensing System For The Fatigue And Fastener Crack Detection$150K
Sep 2013Federal contractDefense · Igf::ot::igf Rif - Third Wave Systems$2.9M
May 2012Federal contractDefense · This Is A Requirement For PO#2012016870 - Third Wave Systems$25K
Feb 2012Federal contractDefense · R&D$1.5M
Dec 2011Federal contractDefense · P-3 Truss Rib Project$12K
Dec 2011Federal contractDefense · Advanced Physics Based Machining Models$752K
Aug 2010Federal contractDefense · R&d SBIR Topic N102-122$150K
Jan 2010Federal contractDefense · SBIR I Third Wave Systems Inc. "accelerated Reconnaissance Window Development"$100K
Aug 2009Federal contractDefense · SBIR Phase II$969K
Jul 2009Federal contractDefense · The Contractor Shall Provide Research For Sensor Windows$600K
Feb 2009Federal contractDefense · Basic Effort - Phase I SBIR$100K
Jan 2009Federal contractDefense · Basic Effort (STTR Phase II)$750K
Sep 2008Federal contractDefense · Third Wave$3M
Sep 2008Federal contractDefense · First Status Report$70K
Jul 2008Federal contractDefense · SBIR Topic N07-181 Conformal Sensor Window$88K
Jun 2008Federal contractDefense · R&d SBIR Phase II Topic N04-013$2.1M
Nov 2007Federal contractDefense · SBIR Phase I - Basic Effort$100K
Jun 2006Federal contractDefense · 200608!601763!2100!W9113M!USA Space And Strategic Def Cdr !W9113M06C0173 !a!n! !n! ! !20060601!20080604!938966090!938966090!938966090!N!THIRD Wave Systems, Inc !7900 W 78TH St Ste 250 !minneapolis !MN!55439!43000!053!27!MINNEAPOLIS !hennepin !minnesota !+000000749999!N!N!000000749999!AC23!RDTE/MISSILE And Space Systems-adv Tech Dev !A2 !missile And Space Systems !000 !not Discernable !336413!E! !3! ! ! ! ! !999$750K
Aug 2005Federal contractDefense · 200511!342879!1700!N68335!NAVAL Air Engineering Station !N6833505C0334 !a!n! !y! ! !20050802!20070727!938966090!938966090!938966090!N!THIRD Wave Systems, Inc !7900 W 78TH St Ste 250 !minneapolis !MN!55439!43000!053!27!MINNEAPOLIS !hennepin !minnesota !+000000500000!N!N!000000000000!AC62!RDTE/ELECTRONICS & Communication Eq-applied Resea !A7 !electronics And Communication Equip !000 !* !541710!E! !3! ! ! ! ! !202$750K
Apr 2005Federal contractDefense · 200507!001981!5700!FA8650!DET 1 Afrl/pk !FA865005C5301 !a!n! !y! ! !20050422!20070720!938966090!938966090!938966090!N!THIRD Wave Systems, Inc !7900 W 78TH St Ste 250 !minneapolis !MN!55439!43000!053!27!MINNEAPOLIS !hennepin !minnesota !+000000130000!N!N!000000750000!AC11!RDTE/AIRCRAFT-BASIC Research !A1A!AIRFRAMES And Spares !000 !* !541710!E! !3! ! ! ! ! !202$1.8M

Node area is scaled to amount. Form D reports securities sold, which can differ from an announced round; filings are numbered in the order they were made.

Standing among 55 peers

Line = median

Aerospace · Software

Federal grantsBelow median

Cumulative measures favor older companies. Rankings describe position today, not outcome. Below the median, ranks show as a band rather than a number.

Founders and team

No founders are linked to this company yet.

Founders appear once a person is matched to the company through its own patents, grants or filings. We never infer people from social profiles.

Checked: USPTO inventors; federal award principal investigators; SEC Form D related persons · Oct 23, 2026

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What it has protected

No granted patents are on record.

USPTO usually publishes applications 18 months after filing, so recent applications may not be visible yet. Patents assigned under a different entity name won’t match.

Checked: USPTO granted patents and published applications · Oct 23, 2026

Plasma Processes, LLCSimilar federal contract value in Aerospace · $54.6M in contracts
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PARAGON SPACE DEVELOPMENT CORPORATIONSimilar federal contract value in Aerospace · $54M in contracts
METAMAGNETICS INCSimilar federal contract value in Aerospace · $52M in contracts
Aeronix, Inc.Similar federal contract value in Aerospace · $51M in contracts
LOADPATH, LLCSimilar federal contract value in Aerospace · $49.6M in contracts

Regulatory activity · Aerospace

Sector-level, not company-level

06 Jul 2026Nondiscrimination in Federally Assisted Programs of NASA-Effectuation of Title VI of the Civil Rights Act of 1964National Aeronautics and Space Administration
01 Jul 2026Special Conditions: AMAC Aerospace, The Boeing Company Model 747- 8 Airplane; Side-Facing SeatsFederal Aviation Administration
26 Jun 2026Standard Instrument Approach Procedures, and Takeoff Minimums and Obstacle Departure Procedures; Miscellaneous AmendmentsFederal Aviation Administration
23 Jun 2026Operating Limitations at John F. Kennedy International AirportFederal Aviation Administration
23 Jun 2026Operating Limitations at New York LaGuardia AirportFederal Aviation Administration
18 Jun 2026Special Conditions: Honeywell Aerospace US LLC, Dassault Aviation Model Falcon 900EX Airplane; Electronic System Security Protection From Unauthorized External AccessFederal Aviation Administration

Rules are matched to sector, not to company. Recent activity in a sector is context rather than a signal about this business — until rules are matched to what a company actually builds, the section is shown as context and nothing more.

Sources

Federal grants from SBIR/STTR, NIH, NSF and DoD records. Federal contracts from USAspending.gov. Private capital from SEC Form D. Patents from USPTO. Publications from OpenAlex. Regulatory activity from the Federal Register. Press matched on company name.

How to read this page

Figures show associations in public records, not causes or predictions. Nothing here is investment advice. An em-dash means no record was found under this company's name, not that none exists.

Data freshness

SEC Form D filings through Oct 23, 2026. SBIR and STTR awards through Oct 21, 2026.