Staff Reporter
22 November 2024 10:14
Adelaide-based wire arc additive manufacturing business AML3D will continue its globalisation efforts, particularly in the US, with the raise of $30 million through a share placement.
In a statement on Friday, the company said it has received firm commitments for the raise, at $0.19 per share. The proceeds will support initiatives including “more than doubl[ing] the manufacturing capacity of its US Technology Centre”, set up a European facility, pursue R&D, and “accelerate US, Australian and global growth opportunities”.
Managing Director Sean Ebert described investor demand as “extremely strong” and the raise as “another significant milestone”
“We are now in an excellent position to continue to rapidly advance our US expansion from Ohio, to take advantage of the demand from the US Department of Defense, whilst exploring the European markets by leveraging the backdrop of AUKUS,” he added.
AML3D said it expected robust growth in the US to continue, following the awarding in September of a $US 951 million contract to nonprofit integrator Blue Forge Alliance, which is designed to support technology adoption and acceleration among the US Navy’s submarine industrial base.
AML3D has supplied six of its Arcemy systems, “fulfilled several alloy testing and component contracts and has an open-ended Manufacturing License Agreement in place” with Blue Forge.
The Australian company added that it saw potential in the US’s energy and defence aerospace sectors
It will be investing $12 million to “more than double the manufacturing capacity” at the current Stowe, Ohio, factory.
The upgraded Ohio factory will build and supply Arcemy cells, perform contract manufacturing, alloy testing and prototyping.
Up to four more Arcemy machines will be installed for jobbing, while a search is on for a second factory to lease to assemble Arcemy machines for US customers.
Meanwhile, AML3D is looking to install an Arcemy system for production and demonstration purposes at a yet-to-be-selected site to serve the UK and Europe, where it is “experiencing similar demand signals as it experienced in its entry to the US market”.
Up to $3 million from the raise will be invested in R&D, “to help support the US and global defense sectors”.
Picture: credit AML3D
Further reading
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AML3D awarded $1.54 million contract on copper-nickel alloys for US submarines
AML3D accesses Australian defence market with 3D printed components
AML3D expands focus on US defence customers