DefenseLFAMMetal Additive ManufacturingMoney & Funding

AML3D raises $4.6M; $3M to go towards new facility in Ohio

Australian metal AM company issues new shares through rights issue and additional placement

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Metal additive manufacturing company AML3D raises a total of A$6.9 million (USD $4.6M) through a recent rights issue and shortfall placement as well as an additional placement. Specifically, the Australian company raised A$3.9M selling new shares to existing shareholders (with ~78.5 million new shares at issue price of A$0.05), and A$3M through an additional placement (with the same terms as the rights issue).

The recent funding means that AML3D’s upcoming plans to build a manufacturing base in Ohio can be realized, enabling it to cement its position in the American market further and build stronger ties with existing and new customers, particularly in the defense industry. The company will also be able to pursue other growth opportunities thanks to incoming working capital.

“We are delighted by the overwhelming support we have received from our existing and new shareholders,” said Sean Ebert, Managing Director of AML3D. “We are now fully funded in our strategy to not only establish a U.S. HW and Manufacturing hub with a dedicated US national sales team in Ohio, but also in having a sound working capital base to fund what we hope will be stronger than expected order flow in the future. Having U.S.-based operations will accelerate our penetration of the U.S. defense sector, in particular the U.S. Navy’s submarine industrial base.”

AML3D to print high-demand, non-safety-critical (NSC) components for US Navy submarines - solving a significant supply chain challenge.

Indeed, AML3D’s Wire Additive Manufacturing (WAM) technology, capable of printing large-scale metal components, has been of keen interest to American naval clients. Earlier this month, for instance, the company announced a $1 million purchase order from the U.S. Department of Defense to qualify Copper-Nickel (CuNi) alloys for a submarine program. This follows a contract with BlueForge Alliance to develop 3D printed replacement components for U.S. Navy submarines.

Of the new A$6.9M in funding, AML3D will allocate a significant portion (A$4.5M / USD$3M) to expanding its presence in the U.S. through at least one operating unit, as well as the establishment of a U.S. facility and the expansion of its sales team and technical resources. Another A$1M of the funding will go towards AML3D’s R&D; specifically to the launch of increased deposition and linear rail systems to meet demand from the U.S. market. The remaining A$4.4M will be allocated to working capital and offer costs.

“2023 was the first year of our U.S. ‘Scale Up’ strategy and we secured ~$10.7 million of U.S. Defense contracts when supporting our US operations from our Adelaide facility,” Ebert added. “We look forward to building on our Defense success from our Ohio base and also leveraging our existing relationships to expand into the US Marine, Oil & Gas and Aerospace sectors.”

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Tess Boissonneault

Tess Boissonneault is a Montreal-based content writer and editor with five years of experience covering the additive manufacturing world. She has a particular interest in amplifying the voices of women working within the industry and is an avid follower of the ever-evolving AM sector. Tess holds a master's degree in Media Studies from the University of Amsterdam.

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