Additive manufacturer AML3D has said it will utilise the funds raised through a placement of shares to expand its presence in the US defence and maritime sectors.
AML3D has received firm commitments to raise $3 million via a placement of shares to a range of sophisticated investors.
The successful placement is following on from AML3D’s groundbreaking US defence industry entry through an AU$1 million ARCEMY® ‘X-Edition 6700’ system sale to BlueForge Alliance.
AML3D will invest in expanding its software development team and capabilities to build out a feature-rich platform and meet client requirements for an enhanced ARCEMY® platform.
AML3D has said it will also establish a US sales team to identify distributors and value-added resellers to create a channel sales model for the ARCEMY® product line, positioning it to access the massive and high-growth US additive manufacturing market.
The capital injection will ensure AML3D’s plans to establish a presence at key US additive manufacturing bases in Knoxville, Tennessee and Danville, Viriginia to service the US navy and other Tier 1 clients.
Knoxville is home to the largest science and energy national laboratory in the Department of Energy system and major partner to NAVSEA (US Navy), Boeing and other strategic targets.
Danville houses the NAVSEA Additive Manufacturing Centre of Excellence, which includes 3 full bays dedicated to accelerating and scaling additive manufacturing and activating supply chains through a centralised Navy demand signal.
AML3D chief executive officer, Ryan Millar said, “Completion of a successful placement will ensure AML3D can comfortably act on our US market growth ambitions and continue to support and expand on strategic partnerships such as our recent opportunity with the US Navy.
“We intend to scale the Company within the massive and growing US additive manufacturing market utilising a fully functional US sales team and key bases in strategic locations. AML3D look forward to implementing our refocused growth strategy and creating long-term value for shareholders ”
