Amaero secures $23.5 million loan to boost Additive Manufacturing powder production in USA
January 9, 2025
Amaero International Limited, based in McDonald, Tennessee, USA, has announced that the Export-Import Bank of the United States (EXIM) bipartisan Board of Directors unanimously approved a direct loan of $23.5 million to Amaero Advanced Materials & Manufacturing Inc., a wholly-owned US operating subsidiary of Amaero.
The US 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).
Amaero’s loan is the sixth MMIA loan approved by EXIM’s Board of Directors and the first to support advanced materials and Additive Manufacturing. Amaero stated that this approval sends a significant signal to capital markets and commercial customers, with the company strategically positioned at the intersection of important US policy initiatives aimed at enhancing the resilience and scalability of manufacturing and supply chain capabilities.
With the commissioning of its first advanced atomiser and the ordering of a second and third, Amaero is reportedly set to become the largest domestic US manufacturer of refractory and titanium alloy powders. These powders are essential for the Additive Manufacturing of mission-critical components in the space and aerospace sectors. Moreover, Amaero is well-positioned to export US-produced advanced materials.
“This is a very important milestone event for Amaero. Non-dilutive, US 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,” stated Hank J Holland, Amaero Chairman and CEO. ”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,” Holland added. “The EXIM loan provides important enabling support to Amaero. The Company expects to invest approximately US$50 million into capital equipment and facility improvements and to support an estimated 150 skilled, highly-paid US jobs.”
As indicated in its August 2024 Investor Presentation, the company expects capital expenditures over a three-year period of FY2024-2026 to total approximately $46.5 million. The planned capital expense includes approximately $28.5 million for capital equipment and approximately $18.0 million for facility improvements. The EXIM loan will be drawn against the capital equipment purchases.
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