-- Underscores EXIM’s conviction in BETA’s industry leadership with $830 million of incremental, non-dilutive financing to initial $170 million tranche --

-- Proceeds would increase vertical integration, domestic capability and expand propulsion production --

-- Proposed expansion represents an additional tranche of funding and would double manufacturing throughput capacity of propulsion and aircraft over the next several years --

BETA Technologies, Inc. (NYSE:BETA) ("BETA"), an aerospace and defense company, and the Export-Import Bank of the United States ("EXIM") announced their intention to expand the parties’ existing financing relationship.

The proposed expansion would provide BETA with up to $1 billion in net financing, which includes approximately $830 million of incremental capital available through one or more tranches. This would extend the existing $170 million financing relationship that supported the construction of BETA’s aircraft production facility in South Burlington, Vermont. Upon completion, BETA expects to use the proceeds to support the next phase of its manufacturing growth in the United States, which could include:

  • Expanding vertical integration and bringing additional strategic aerospace manufacturing processes in house;
  • Increasing production capacity for electric propulsion systems and components sold to international customers and used on aircraft worldwide;
  • Scaling BETA’s propulsion business beyond its current low-volume commercial shipments;
  • Approximately doubling throughput across BETA’s manufacturing facilities over the next several years; and
  • Supporting the creation of hundreds of technical, high-quality U.S. aerospace and advanced-manufacturing jobs.