AML3D Limited (ASX: $AL3) announcement overview

AML3D Limited (ASX: $AL3) has announced its intention to establish a standalone, fully operational facility in Ohio to increase its capacity and take advantage of the growing demand in the US for advanced manufacturing technology solutions, particularly within the US Defence industry. The company plans to conduct a non-renounceable rights issue on a 1:3 basis to raise up to $3.9 million at $0.05 per share. The funds raised will also be used to invest in AML3D's advanced manufacturing technology to enhance its strategic position in the US Defence sector.

Executive commentary on AML3D's expansion and capital raising

In CY2023, the first year of AML3D's US scale up strategy, the Company secured ~$11.9 million in US Defence contracts alone. 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. 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.

Summary of AML3D's expansion and capital raising

AML3D Limited (ASX: $AL3) is set to establish a standalone facility in Ohio to expand its operations and meet the growing demand for advanced manufacturing technology solutions in the US, particularly within the US Defence industry. The company's plans include conducting a non-renounceable rights issue to raise approximately $3.9 million at $0.05 per share, with the intention to invest in its advanced manufacturing technology and software. The establishment of the US headquarters and manufacturing hub, along with the investment in technology, aims to position AML3D to rapidly scale up its US employee base and maintain its competitive advantage in the market. The company's Managing Director, Sean Ebert, highlighted the success in securing US Defence contracts and emphasized the importance of the capital raising in establishing a US manufacturing and national sales team to capitalize on the surging demand. AML3D's strategic focus on the US market and the planned investments reflect the company's commitment to driving growth and creating long-term value for its shareholders.