Rocky Adkins, Terri Branham, Kathy Hinkle and Robin Webb, Opinion contributors

Braidy Industries wants to build an aluminum rolling mill in eastern Kentucky, but has hit some snags along the way. Nikki Boliaux, Louisville Courier Journal

It’s not every day that a cutting-edge company like Braidy Industries chooses Kentucky, and let me tell you, we are excited about it. We supported the project from the beginning. It’s good for Eastern Kentucky and the entire commonwealth, and we are confident in its future.

We all need Braidy to succeed and bring hope and opportunity back to our region. While we may be gearing up for football in the Bluegrass, thousands of family’s futures are depending on this significant and valuable investment that will bring back the types of jobs our people need and deserve.

For some time, the Appalachian region hasn’t been making the best economic news. But times are changing, and Braidy is a big part of the reason. A study conducted by renowned economics professor James Koch found that Braidy will generate $2.8 billion of economic value in Kentucky by 2021. He also found that Braidy will impact the four surrounding Ohio and West Virginia counties, adding more than 8,000 jobs to those counties.

 

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It’s not every day that a cutting-edge company like Braidy Industries chooses Kentucky, and let me tell you, we are excited about it. We supported the project from the beginning—it’s good for Eastern Kentucky and the entire Commonwealth— and we are confident in its future.

We all need Braidy to succeed and bring hope and opportunity back to our region. While we may be gearing up for football in the Bluegrass, thousands of family’s futures are depending on this significant and valuable investment that will bring back the types of jobs our people need and deserve.

For some time, the Appalachian region hasn’t been making the best economic news. But times are changing, and Braidy is a big part of the reason. A study conducted by renowned economics professor Dr. James Koch found that Braidy will generate $2.8 billion of economic value in Kentucky by 2021. He also found that Braidy will impact the four surrounding Ohio and West Virginia counties, adding more than 8,000 jobs to those counties. Read more

“Crowdfunding” Effort Brings Braidy Shareholder Count to Over 800

To-date, Kentucky’s taxpayers have a 250% return on State’s initial investment

ASHLAND, K.Y., July 22, 2019 — Braidy Industries, Inc. (“Braidy”) announced today the completion of Regulation CF “crowdfunding” of its common stock offering, having received commitments for in excess of 100% of the statutory limit of $1,070,000 allowed, in parallel to its $500 million Wall Street private placement offering. The Regulation CF offering was launched by Braidy via the Netcapital portal allowing main street Kentuckians classified as non-accredited investors the opportunity to make a pre-IPO purchase of stock.

At Braidy’s current valuation implied by the terms of the completed offering, the Commonwealth of Kentucky’s initial $15 million investment made at $5 per share has increased to $18 per share, giving taxpayers a 250% appreciation on its investment.

Braidy recently announced a $200 million strategic equity commitment made by United Company Rusal into its subsidiary company, Braidy Atlas LLC (of which $60 million has already been funded), and a 10-year supply agreement of in-demand low carbon prime aluminum for the mill. It creates 550 jobs to manufacture the highest quality, most sustainable and lowest cost aluminum in the world, as a private industry version of the “new green deal.”

Braidy has over $1 billion in competitive indications of investment interest for the remaining $300 million of its $500 million Wall Street private placement offering that remains subject to final close.

“Over 750 main street investors, primarily Kentuckians, invested their hard-earned money in Braidy to build a healthy community and a healthy company,” said Chairman and CEO Craig T. Bouchard. “These individuals each voted their wallets. In doing so, they join our relentless pursuit to bring prosperity to Appalachia with high-paying advanced manufacturing jobs. The Company thanks Governor Bevin and all of the Republican and Democratic Senators and House Representatives for their bipartisan support and unanimous vote in support of bringing Braidy to Kentucky.”

Dr. Jay Box, president of the KCTCS Colleges stated, “Main Street Kentucky knows how important it is to retool its workforce through programs like the Braidy AIT Associates degree at Ashland Community and Technical College, right next to the mill site. Putting coal miners and steel workers back to work is a critical priority. Creating a future for our next generation of great kids is equally important.”

Greenup County Judge Robert Carpenter (Dem.) added, “Braidy has provided over 25 high school graduates in the area with college scholarships and summer internships since locating its corporate headquarters to Ashland. They have contributed to over 200 charitable causes and taken a leadership position in fighting the opioid crisis. We couldn’t have hoped for such corporate responsibility after two decades of tough times locally.”

House Minority Leader Rocky Adkins said, “We need Braidy to succeed in Eastern Kentucky. I along with many others support the company’s efforts and think Braidy has assembled a first-class team at its corporate headquarters in Ashland, Kentucky. With thousands of jobs having been lost throughout Appalachia in the coal, steel and railroad industries, I proudly supported this investment for Braidy to bring hope and opportunity back to our region. I believe this project will open the door to many other industries. Eastern Kentucky needs a strong diversified economy that will produce the types of jobs our people need and deserve. Braidy Industries will be the catalyst to make this happen.”

Bouchard added: “These supporters become the essence of the community partnership we seek to foster. We are building the 13th largest building in the world and are ahead of every timeline we imagined two years ago. The tabloids like to print deadlines for us which don’t exist. Braidy has known all along that a major business like this isn’t created overnight. We are beyond pleased that all the pieces continue to come together. We remain on track for 2021.”

About Braidy Industries, Inc.:
Braidy Industries, Inc. was formed to lead a national transformation in the manufacture and use of efficient, eco-friendly metal alloys that are lighter and stronger than metals currently in commercial use. There is a light weighting revolution occurring in material science, and we disrupt the metal manufacturing industry with transformative technology. Braidy Atlas is constructing a greenfield aluminum rolling mill in Ashland, Kentucky that will become the low-cost provider of 300,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet for the transportation and food and beverage industries. Braidy’s subsidiary, Veloxint, is an MIT-incubated light weighting solutions company that manufactures powder and parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, NanoAL is a world leader in the science of nanocrystaline technology applied to sheet aluminum. For more information, visit www.braidy.com.

Media Contacts:
Jaunique Sealey
Tel: 606-420-4645

jsealey@braidy.com

 

ASHLAND, Ky. (AP) — Braidy Industries says hundreds of Kentuckians have become shareholders as the company lines up financing for a $1.7 billion aluminum mill in eastern Kentucky.

The company says it recently completed the “crowdfunding” portion of its common stock offering, which was capped at just over $1 million worth of shares…

 

By MARK MAYNARD, Kentucky Today

ASHLAND, Ky. (KT) – Braidy Industries CEO Craig Bouchard expressed confidence Tuesday that the company is in perfect position to open its $1.7 billion Braidy Atlas mill in northeastern Kentucky in 2021 – and it has done it faster than anybody expected.

As of Tuesday, he said, $300 million has been raised and the majority of the capital needed is now in hand either in cash, binding commitments or letters of intent.

In other words, he said, it’s coming.

“Our progress building one of the largest mills in the world has gone faster than any project of this size in memory,” Bouchard said…

 

Glenn Puit, Editor, The Daily Independent

Braidy Industries Chief Executive Officer Craig Bouchard said the company is on track for opening its Atlas mill in 2021 with the company also on schedule for raising the necessary capital.

Bouchard said Tuesday the mill’s projected total cost is $1.7 billion. As of Tuesday $300 million has been raised and the majority of the remaining capital needed is now in hand in cash, binding commitments or letters of intent.

“Between the debt and equity markets the total cost of the mill is $1.7 billion,” Bouchard said. “In essence that is the raise between debt and equity to pay for it. Braidy Industries has raised over $300 million of cash equity to date. So we have had a tremendous amount of success and we have a very strong interest level from people in negotiating with us for the final pieces.”

Bouchard said Braidy is going to be able to raise the remaining capital.

“The majority of our capital raise — both debt and equity — is now in hand in cash, binding commitments or letters of intent,” Bouchard said…

 

Business Wire

ASHLAND, Ky.–(BUSINESS WIRE)–

Today, Braidy Industries, Inc. (“Braidy”) and En+ Group subsidiary United Company RUSAL plc (“Rusal”) jointly announced the approval by their respective Boards of Directors of a $200 million lead investment in the Braidy Atlas mill by Rusal. In exchange for its investment, Rusal will obtain a 40% share in the Braidy Atlas, the first greenfield aluminum rolling mill built in the U.S. in 37 years. The deal is expected to close in the second quarter of 2019.

Rusal will supply 200,000 tons of certified low-carbon prime aluminum ingot and slabs each year for a 10-year period, allowing Braidy to target 20% lower carbon emissions than its nearest competitor. This will be the world’s largest order for one mill of high-quality, pre-alloyed and low-carbon primary aluminum slabs.

Braidy Industries Chairman and CEO, Craig Bouchard, said, “This is a sustainability match made in heaven for the global aluminum industry.”

About the Braidy Atlas Mill:

Braidy Atlas is the first new U.S. greenfield rolling plant in 37 years.
This new plant is totally dependent on long-term supplies of high-quality, low-carbon aluminum.
No U.S. producer of prime aluminum is able to supply the huge quantities required.
Outside the U.S., only Rusal can supply low-carbon, high-quality aluminum at this scale.
Braidy and Rusal share the same vision of low-carbon growth and the opportunities it creates.

For more information, visit www.braidy.com.

About RUSAL:

RUSAL (www.rusal.ru) is the leader of the global aluminum industry. In 2018, the Company accounted for about 5.8% of global production of aluminum and 6.2% of alumina production. The Company employs about 64,000 people, with offices operating in 20 countries across 5 continents. RUSAL common stock is traded at the Hong Kong Stock Exchange (trade code – 486). RUSAL’s ordinary shares are traded on the Moscow Exchange (trade code is: RUAL).

View source version on businesswire.com: https://www.businesswire.com/news/home/20190516005584/en/

ASHLAND, Ky.–(BUSINESS WIRE)–

Producer of lowest-carbon, highest-value, lowest-cost aluminum to generate $1.5 billion for Eastern Kentucky by 2021

Will add more than $35 million of tax revenue to Eastern Kentucky and over $75 million to the Commonwealth of Kentucky through 2021

Estimated to create over 31,000 incremental job years in the Commonwealth and add additional employee earnings of $371.6 million in Eastern Kentucky and $793.7 million in the Commonwealth by 2021

Report author James V. Koch, Professor Emeritus of Economics and President Emeritus of Old Dominion University, has conducted nearly 50 economic impact studies, including Virginia’s Annual State of the Commonwealth Report

Today, a report assessing Braidy Industries’ (“Braidy”) estimated economic impact on the Commonwealth of Kentucky was released by Dr. James V. Koch, Board of Visitors Professor Emeritus of Economics and President Emeritus of Old Dominion University. Dr. Koch and his team modeled the regional effects produced by the introduction of Braidy Atlas into the economy, from construction through the first year of production in 2021, and found that Braidy will catalyze $2.8 billion in economic growth in Kentucky and $1.54 billion within the six-county Eastern Kentucky region.

The report also details 1,500 construction jobs and 650 new permanent, advanced manufacturing jobs, creating approximately 3,600 additional jobs in the surrounding communities. Dr. Koch stated, “Braidy is delivering on its vision to revitalize Appalachia through the production of low-carbon, high-quality aluminum.”

Utilizing the U.S. Department of Commerce’s RIMS-II economic impact model, the study forecasts substantial economic prosperity generated by Braidy through 2021, including:

  • Braidy will offset the traditionally high costs of production and operation by harnessing the advantages of greenfield construction and technological advancements associated with state-of-the-art manufacturing equipment.
  • With 13 automotive OEMs based within 250 miles of Braidy’s headquarters and immediate access to major rail, highway and the Ohio River, Braidy can significantly reduce its logistical costs.
  • Braidy will capitalize on the robust reservoir of experienced, compatible and skilled labor in the local region, that has been displaced by economic changes that have led to the decline in the coal mining industry and steel industries.
  • Braidy will contribute 3.7% of the gross regional product of the Huntington-Ashland metropolitan statistical area.
  • The Commonwealth of Kentucky, outside of the six-county Eastern Kentucky region, will receive in excess of 70% of the economic impact associated with Braidy’s planning and construction activities.

“The findings of this study reinforce Braidy’s vision to not only be a disruptor in materials science and sustainable manufacturing the short term, but more importantly drive prosperity in Eastern Kentucky and the Commonwealth for generations,” said Braidy Industries CEO and Chairman Craig Bouchard. “The direct and indirect economic benefits created by Braidy will help rebuild Appalachia as we spearhead a shift in the metals industry toward low-carbon, high-value, low-cost aluminum.”

“Braidy has already supercharged the economy of Eastern Kentucky and soon it will be a major economic engine for all of Kentucky,” said Dr. Koch. “Braidy is easily one of the most important economic developments in Eastern Kentucky in the past three decades and when fully developed, it will rank at the very top of that list in Kentucky.”

Dr. Koch currently serves as the Board of Visitors Professor Emeritus of Economics and President Emeritus of Old Dominion University. He has completed nearly 50 economic impact studies, in addition to authoring 12 books, 120 journal articles and features in top-tier publications including The New York Times, The Wall Street Journal and The Washington Post.

About the Braidy Atlas Mill:

  • Braidy Atlas is the first new U.S. greenfield rolling plant in 37 years.
  • This new plant is totally dependent on long-term supplies of high-quality, low-carbon aluminum.
  • Braidy Atlas will become the first rolled products aluminum sheet producer to use 100% low-carbon inputs on an ongoing basis from its inception.
  • Braidy Atlas, the first company to secure a “minor contributing source” air permit from the Federal EPA, targets 20% lower carbon emissions than next lowest competitor.

About Braidy Industries, Inc.:

Braidy Industries, Inc. was formed to lead a national transformation in the manufacture and use of efficient, eco-friendly metal alloys that are lighter and stronger than metals currently in commercial use. There is a lightweighting revolution occurring in material science, and we intend to disrupt the metal manufacturing industry with transformative economics and technology. We believe we are well positioned to lead this transformation by building infrastructure to enable rapid adoption and scaling of next-generation metal lightweighting technologies. The company’s first project, the construction of a greenfield aluminum rolling mill at EastPark Industrial Center in Ashland, Kentucky, will position the company as the low-cost provider of 300,000 annual tons of production-ready series 3000, 5000 and 6000 aluminum sheet for the automotive industry. Braidy’s subsidiary, Veloxint, is an MIT-incubated lightweighting solutions company that is manufacturing parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, NanoAL is a world leader in the science of nanocrystaline technology applied to sheet aluminum. For more information, visit www.braidy.com.

Contacts

Media:
Jaunique Sealey
Tel: 606-420-4645
jsealey@braidyindustries.com