Adelaide tech company to set up in US after $4m funding boost

Listed tech firm AML3D will establish a manufacturing hub in Ohio using the proceeds from a multi-million-dollar capital raise.

Apr 05, 2024, updated Apr 05, 2024
AML3D's Arcemy unit in action.

AML3D's Arcemy unit in action.

The company, which has developed a 3D printer that uses metal, will establish its US headquarters at the Ohio facility to position itself to “rapidly scale up its US employee base to meet the strong and growing demand in the US for advanced manufacturing technology solutions”.

The Ohio facility – which will be led by recently appointed President of US Operations Pete Goumas – will build AML3D’s advanced manufacturing systems and house the company’s US sales and operating functions.

The move follows a series of big moves from AML3D, including securing $11.9 million of US Defence contracts in 2023.

AML3D managing director Sean Ebert said the company is noticing “surging demand in the US for [its] technology”.

The plans are backed by a $3.9 million raise at 5 cents per share, which will see about 78 million new shares issued.

“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,” said 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.”

About $500,000 of the total funds raised will be invested in the AML3D’s software and technology to “maintain the company’s competitive advantage”.

This will include increasing the applications of its 3D printing solutions in support of the US Defence sector, and expanding its software development expertise.

“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 and industrial base,” Ebert said.

“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.”

InDaily in your inbox. The best local news every workday at lunch time.
By signing up, you agree to our User Agreement andPrivacy Policy & Cookie Statement. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

The news comes after AML3D announced it had achieved AS9100D accreditation, meaning it can now design, develop and manufacture aviation, space and defence products.

“Having the ambition to target and then achieve AS9100D accreditation is a significant milestone for AML3D and is a great credit to the talent, expertise and dedication of our people,” Ebert said.

“It demonstrates our ability to deliver quality components into the aviation, space and defence sectors; enhances our credibility and reputation as a leading provider of advanced additive manufacturing solutions and positions AML3D as a highly competitive player in the Aerospace market.”

Get more SA business news in your inbox each Monday morning with Business Insight. It’s free and informative.

Local News Matters
Copyright © 2024 InDaily.
All rights reserved.