Amaero, a U.S. domestic producer of C103, refractory alloy, and titanium powders for additive and advanced manufacturing, secures a $23.5 million loan from Export-Import Bank of the US.
The U.S. federal government export credit agency will provide capital equipment financing and will directly fund the loan as part of EXIM’s Make More in America initiative (MMIA) that was established “to address the longer-term weaknesses in our nation’s supply chains, the result of decades of underinvestment, outsourcing and offshoring instead of investment in long-term security, sustainability, and resilience. Too many American manufacturers in sectors critical to America’s national security, especially small- and medium-sized enterprises struggle to obtain financing … EXIM is well positioned to address this issue, while supporting jobs in America.” – EXIM
The loan approval process involved an extensive due diligence process that included internal underwriting, transaction review and credit committee approval, as well as engagement of third-party consultants. After working closely with EXIM’s MMIA team since January 2024, we are pleased to have received final and unanimous approval by EXIM’s bipartisan Board of Directors. The loan is subject to mutually agreed upon and fully executed loan documentation. The Company expects to finalize documentation for the loan in the current quarter. Amaero very much appreciates the efforts of EXIM’s staff and the leadership of its President and Board Chair, Reta Jo Lewis.
Hank J. Holland, Amaero Chairman and CEO commented:
“This is a very important milestone event for Amaero. Non-dilutive, U.S. government-funded support is an important signal to the market that validates the alignment of Amaero’s strategy and capability with the United States’ priority policy initiatives. Equipment financing has been secured approximately 12 months ahead of guidance and with an attractive interest rate. Amaero has intentionally pursued a corporate strategy that addresses critical gaps in U.S. domestic manufacturing and supply chain capabilities. Improving the resiliency and scalability of domestic manufacturing throughput is an imperative for both national security and economic prosperity. After decades of offshoring manufacturing to lower cost countries, the United States has atrophied domestic manufacturing capability, has created critical vulnerabilities in domestic supply chains and has lost approximately 7.1 million skilled, highly-paid manufacturing jobs.
We have worked closely with EXIM since January 2024 and are gratified that the loan has received final and unanimous approval from EXIM’s bipartisan Board of Directors. As customary with Amaero’s practice, the Company waited for final approval before disclosing the EXIM transaction.
The EXIM loan provides important enabling support to Amaero. The Company expects to invest approximately $50 million into capital equipment and facility improvements and to support an estimated 150 skilled, highly-paid U.S. jobs.”
Remember, you can post free-of-charge job opportunities in the AM Industry on 3D ADEPT Media or look for a job via our job board. Make sure to follow us on our social networks and subscribe to our weekly newsletter: Facebook, Twitter, LinkedIn & Instagram! If you want to be featured in the next issue of our digital magazine or if you hear a story that needs to be heard, make sure to send it to contact@3dadept.com.