The Board of Directors at the Export-Import Bank of the United States (EXIM) approved a nearly $23.5 million loan to the Tennessee plant of an Australian powdered metals firm as part of the bank's Make More in America initiative (MMIA).
The direct loan will be used to finance the purchase and installation of industrial metals processing equipment to further expand a McDonald, TN-based critical minerals and refractory alloy processing facility owned by Amaero Advanced Materials & Manufacturing.
The powders produced from the facility can be used in additive manufacturing applications, aerospace and medical uses.
"With the commissioning of the 1st advanced atomizer and with ordering the 2nd and 3rd advanced atomizers, Amaero is positioned to be the largest U.S. domestic manufacturer of C103, refractory and titanium alloy powders that are essential to additive / advanced manufacturing of mission critical components for the space and aerospace sectors," the company said in an announcement.
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."
“This is the sixth transaction we have approved since August 2023, with more in the pipeline, said President and Chair Reta Jo Lewis. "Transactions like this that fall under MMIA allow EXIM to expand our support for exports throughout the entire export lifecycle while continuing to create high-paying U.S. jobs in critical industries.”
The project will meet the minimum export nexus of 15 percent with expected exports to Europe and Latin America. This transaction is expected to support an estimated 190 jobs in and around McDonald, TN.
Amaero was established with the support of Australia's Monash University in 2013 to take advantage of commercial opportunities identified by the Monash Centre for Additive Manufacturing (MCAM).
Amaero is was originally co-located with MCAM in Melbourne Australia. In 2022 Amaero International Limited, headquartered in Notting Hill, Victoria, Australia, and Rabdan Industries PLC, an affiliate of diversified holding company Ethmar Holdings based in Abu Dhabi, UAE, announced a partnership for Additive Manufacturing and metal powder production in the Middle East.
With manufacturing and corporate headquarters now located in Tennessee, Amaero is a leading U.S. domestic producer of high-value C103, refractory alloy, and titanium powders for additive and advanced manufacturing of components utilized by the defense, space, and aviation industries.
Comments
No comments on this item Please log in to comment by clicking here