AML3D Limited has confirmed that it is intending to establish a standalone, fully operational facility in Ohio to increase its capacity to take advantage of the strong and growing demand in the US for advanced manufacturing technology solutions, notably within the US Defence industry.
To fund the expansion, AML3D will be conducting a non-renounceable rights issue on a 1:3 basis to raise up to $3.9 million at $0.05 per share.
The Ohio-based manufacturing facility will house AML3D’s US headquarters and operating facility. The US facility will be led by the recently appointed President of US Operations, Pete Goumas and will build AML3D’s ARCEMY advanced manufacturing systems; fulfill contract manufacturing, alloy testing and prototyping contracts and house AML3D’s US sales and operating functions.
Following successful completion of the capital raise AML3D said it will be positioned to rapidly scale up its US employee base to meet the strong and growing demand in the US for advanced manufacturing technology solutions.
The company said it will also invest in its software and technology to maintain the Company’s competitive advantage and increase the applications of its Wire-Arc Additive Manufacturing solutions, particularly in support of the US Defence sector. This investment will include expanding AML3D’s software development expertise and capabilities to build out new features that will enhance AML3D’s ARCEMY platform in both build size and speed and maintain its position as a market leading advance additive manufacturing solution.
"In CY2023, the first year of AML3D’s US scale up strategy, the Company secured ~$11.9 million in US Defence contracts alone and we continue to see surging demand in the US for our technology. The completion of this capital raising will provide the funds to establish a US manufacturing and US national sales team in Ohio to ensure we can take full advantage of this surging demand," commented AML3D Managing Director, Sean Ebert.
"Our Ohio based facility will offer greater support to the US Defence sector, ensure we are best positioned to continue to win US Defence contracts and have a springboard from which to enter the additional US manufacturing sectors we have targeted, including Marine, Oil & Gas and Aerospace.
A secondary but important use of the funds to be raised is for investment to continue to develop our software and technology. Our success to date has been built around AML3D’s market leading Wire-Arc Additive Manufacturing solutions meeting the needs of the US Defence sector, particularly the US Navy’s submarine industrial base. The continued investment in our technology is designed to maintain that competitive advantage, to drive growth and create long-term value for our existing and new shareholders.”