AML3D (ASX: AL3) secured A$30 million ($20 million) to supercharge its global ambitions.With this funding, the Australian 3D printing company is set to more than double its U.S.manufacturing capacity, establish a new facility in Europe, and advance its proprietary ARCEMY technology.
This investment puts AML3D in a better spot to grow in the aerospace and defense sectors, where advanced manufacturing is gaining traction due to rising global tensions and supply chain challenges.A substantial portion of the raised funds, roughly A$12 million ($7.8 million), will go to AML3D’s Technology Centre in Stowe, Ohio, which serves as the company’s U.S.headquarters and manufacturing hub.The facility is led by Pete Goumas, who was appointed President of U.S.
Operations last year.This expansion is tied to growing opportunities with the U.S.Department of Defense (DoD), including a recent $951 million contract awarded to Blue Forge Alliance (BFA), which AML3D works with to support the U.S.Navy’s Submarine Industrial Base (SIB).
In fact, AML3D expects a portion of this funding to be directed to accelerating the adoption of advanced additive manufacturing technology, such as its ARCEMY systems, within the U.S.Navy’s SIB.AML3D has already delivered six ARCEMY systems and completed alloy testing and component contracts under an ongoing agreement with BFA.The expanded Ohio facility will build and supply more ARCEMY systems and handle contract manufacturing, alloy testing, and prototyping.To support this growth, AML3D will initially install up to four additional ARCEMY systems for part production at the Ohio site.
The company is also exploring the lease of a second facility to assemble ARCEMY systems for customers and expand its support of the U.S.Navy defense supply chain.Additionally, AML3D plans to hire more engineers and technical operators to handle system assembly, customer support, and parts production.“I’ve been leading AML3D’s US operations for a little over a year now.
In that time, we established a state-of-the-art technology center and manufacturing facility in Ohio while continuing to win new contracts,” noted Goumas.“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 U.S.
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.”AML3D President of U.S.Operations, Pete Goumas.
Image courtesy of AML3D.In addition to the U.S.expansion, AML3D plans to invest around A$5 million (3.3 million) to establish a facility in Europe.This move plans to tap into the European market, driven by demand from AUKUS—a defense pact between Australia, the UK, and the U.S.
focused on military and technology cooperation.AML3D sees AUKUS as a chance to expand its defense manufacturing efforts, with its ARCEMY systems already contributing to U.S.Navy submarine projects.
Expanding to Europe will help the company to tap into similar defense opportunities.Furthermore, the European facility will serve as a showcase Technology Centre, supporting a “backdrop of demand” from defense-related customers and other industries.Another A$3 million ($1.9 million) will go to research and development programs, mainly focused on advancing the company’s software and technology, expanding the range of applications for its Wire-Arc Additive Manufacturing (WAAM) technology, and supporting the U.S.and global defense sectors.The remaining funds will be used to support working capital needs and accelerate growth opportunities.The large-scale ARCEMY WAAM 3D printer from AML3D.
Image courtesy of AML3DAML3D raised the funds by issuing roughly 157.9 million new shares at a price of A$0.19 ($0.12) each.Both existing shareholders and new institutional investors showed strong interest, with demand exceeding the target.The share price for this placement was 17.4% lower than the last closing price of A$0.23 ($0.15) on November 19, 2024.
Prior to this capital raise, AML3D brought in A$6.9 million ($4.5 million) through a rights issue and placement in May 2024.Additionally, in July 2022, AML3D completed an equity issue to raise an additional A$2.7 million ($1.8 million), followed by an A$3 million equity issue in February 2023 and an additional A$400,000 ($260,000) raised through a Share Purchase Plan in April 2023.Counting the recent A$30 million placement, AML3D has raised a total of approximately A$43 million ($28 million) to date.Subscribe to Our Email NewsletterStay up-to-date on all the latest news from the 3D printing industry and receive information and offers from third party vendors.