AML3D raises AUS$30M, plans to double US capacity and add European base
November 26, 2024
AML3D Limited, headquartered in Edinburgh, Australia, has successfully completed a two-tranche institutional placement, raising approximately AUS$30 million (around US$19.5M) . This investment is expected to enable the company to take advantage of recent contract opportunities, including from the US Department of Defense (DoD) and Boeing.
“This successful equity placement marks another significant milestone for AML3D with investor demand being extremely strong,” stated Sean Ebert, AML3D’s Managing Director. “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.
To meet the demands of its recent contracts, AML3D will invest AUS$12 million to more than double the manufacturing capacity of its US Technology Centre in Stowe, Ohio. The enhanced Ohio facility will build and supply AML3D’s ARCEMY Additive Manufacturing machines and fulfil contract manufacturing, alloy testing and prototyping contracts under the leadership of Pete Goumas, President of US Operations.
Goumas explained, “I’ve been leading AML3D’s US operations for a little over a year now. In that time, we have established a state-of-the-art technology centre and manufacturing facility in Ohio, while continuing to win new contracts. I have recruited some of the best and brightest to build out our technical, sales and service teams. It is really exciting to see this surge in investment into Additive Manufacturing by the US Department of Defense, particularly into the Submarine Industrial Base where AML3D has been building its presence. The US team is fully primed and ready to rapidly expand our operations and people to meet this new and potentially significant demand for our technology.”
The company will initially install up to four additional ARCEMY machines for the production of manufactured parts into the existing US facility whilst looking to lease a second facility for the assembly of ARCEMY machines for sale to customers and to the support the rollout to the US Navy defence contracting supply chain. In addition, the AML3D will be hiring additional engineering and technical operators to support the assembly of systems, ongoing customer support requirements as well as the production of parts.
United Kingdom / European expansion
AML3D intends to explore the opportunities within the UK and European markets through the establishment of a location for one Arcemy machine as a production and demonstration machine for the market. The company is said to be experiencing similar demand signals as it experienced in its entry to the US market and currently has a bid in for a system to a defence-related customer which it expects to secure.
The base in Europe is planned to be a showcase Technology Centre for Europe and will be there to initially support the demand from the backdrop of AUKUS.
AML3D plans to invest approximately $5 million in exploring the UK and European market in order to support the establishment of the Arcemy unit and showcasing the technology to the market.
Investment in R&D programmes
AML3D will also invest up to AUS$3 million to continue developing its software and Wire Arc Additive Manufacturing (WAAM) technology. AML3D’s R&D programme is also designed to expand the range of applications for its Additive Manufacturing technology to help support the US and global defence sectors.
Sean Ebert stated, “The decision in September by the US Department of Défense to award Blue Forge an additional US$951 million of funds is expected to help accelerate the adoption of AML3D’s ARCEMY technology. My understanding is a reasonable proportion of the new funds will be directed to scaling up and integrating Additive Manufacturing into the US Navy’s Submarine Industrial Base. The completion of this AUS$30 million capital raising provides AML3D with the funds to scale up our US operations to maximise this opportunity.
“The placement also allows us to accelerate development of our software and technology to maintain our market leading position in additive manufacturing, to maintain our competitive advantage and drive growth and value creation for our new and existing shareholders.”
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