Graduates from Braidy’s ACTC AIT program will work for subsidiaries NanoAl and Veloxint earning $65,000 per year

ASHLAND, KY – OCTOBER 28, 2019 – Following the creation of 200 jobs at the newly-opened Marriott Delta Hotel in downtown Ashland situated across the street from Braidy Industries, Inc. (“Braidy”) Headquarters, today, Braidy has announced that 15 graduates from the Company’s Ashland Community & Technical College (“ACTC”) Advanced Integrated Technologies (“AIT”) program will be hired to full-time positions at Braidy subsidiaries NanoAl and Veloxint. Each of these positions will pay base salaries of $65,000 per year, an increase of 45% relative to the average employee income in Kentucky.

Massachusetts Institute of Technology-incubated Veloxint provides high performance products and parts using novel nanocrystalline metal alloys and fundamental science, resulting in performance improvements two to five times better than current metals. Northwestern University-incubated NanoAl produces pioneering aluminum superalloys using advanced materials and nanotechnology research to develop products that offer improved strength, toughness, high temperature strength, creep resistance, electrical conductivity and manufacturability.

Veloxint and NanoAl are locating their manufacturing operations at the EastPark Industrial Center adjacent to the Braidy Atlas mill site. The first five graduates will first travel to Boston, MA for several months where they will receive specialized training in powder metallurgy at Veloxint Headquarters.

“Our Advanced Integrated Technologies Program at ACTC has proven to be an outstanding cultivator of the next generation of skilled labor in Appalachia,” said Craig Bouchard, CEO of Braidy. “Braidy is committed to economic prosperity in the great city of Ashland and surrounding counties, which is only possible if we educate, train and empower our youth and then support their achievements with well-paying jobs when they graduate.”

Dr. Jay Box, President of The Kentucky Community and Technical College System (KCTCS), added, “The KCTCS and Braidy Industries partnership to create the Advanced Integrated Technologies Program at Ashland Community and Technical College is an excellent example of a public-private workforce initiative that will impact many lives in Eastern Kentucky. The first cohort of students will be graduating soon and will be fully prepared with world-class advanced manufacturing skills to assume the high paying positions that Braidy will have to offer.”

“The strong partnership between Braidy Industries and ACTC is already creating a ripple effect in the Ashland region as the next generation of skilled workers graduate, ready to fill open positions in their community,” said Governor Matt Bevin. “We are proud of the ACTC graduates for filling these high-demand jobs within Braidy’s subsidiaries, and we look forward to watching them grow along with these exciting companies.”

Braidy recently announced the publishing of a second economic impact report estimating that the Company will catalyze $238.3 million in economic growth in West Virginia and $153.0 million in Ohio. Braidy Atlas mill will be the first new mill of its kind in the U.S. in more than 37 years and create 1,500 construction jobs, 650 new permanent advanced manufacturing jobs and approximately 3,600 additional jobs in the surrounding communities in Appalachia.

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. The Company’s first project, the construction of Braidy Atlas aluminum rolling mill, a state-of-the-art low-emissions greenfield manufacturing facility 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 and beverage can industries. Braidy’s subsidiary, Veloxint Corporation, is an MIT-incubated lightweighting solutions company that is manufacturing parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, NanoAl LLC is a world leader in the science of nanocrystalline technology applied to aluminum. For more information, visit www.braidyindustries.com.

Media Contacts:
Jaunique Sealey
jsealey@braidy.com
606.575.3121

Anthony Feldman
afeldman@kcsa.com
347.487.6194

Braidy Industries expected to add 3,945 job years in Ohio and 4,217 in West Virginia

Average annual wage will be 17.5 to 35.5 percent above regional county averages

Estimated annual output in Ohio is $153.0 million and $238.3 million in West Virginia

Estimated annual total earnings in Ohio is $205.1 million and $185.3 million in West Virginia

(Ashland, KY) October 9, 2019 —A report assessing Braidy Industries, Inc.’s (“Braidy”) estimated economic impact on the neighboring states of Ohio and West Virginia was issued today by Dr. James V. Koch, Board of Visitors Professor Emeritus of Economics and President Emeritus of Old Dominion University.

The report found substantial economic impact in the tristate region as a result of Braidy. It focuses on Braidy’s impact as an employer within Lawrence and Scioto counties in Ohio, and Cabell and Wayne counties in West Virginia, a region where individuals commonly work across state lines. The U.S. Census estimates that over 5,000 individuals travel from these counties daily to Boyd County, Kentucky to work.

Today’s tristate economic impact report supplements a previous economic study released in April 2019 on Braidy’s impact on the Commonwealth of Kentucky. That report found that Braidy will catalyze $2.8 billion in economic growth in Kentucky and $1.54 billion within the six-county Eastern Kentucky region from construction through the first year of production in 2021.

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

  • An average Braidy weekly wage 17.5 to 35.5 percent above regional averages within West Virginia and Ohio.
  • An estimated impact on the value of output in Ohio of $153.0 million, and a comparable figure in West Virginia of $238.3 million.
  • An estimated annual total earnings in Ohio of $205.1 million and $185.3 million in West Virginia.
  • West Virginia will experience 61 percent of the non-Kentucky economic output impact of Braidy, while Ohio will experience approximately 39 percent of it.
  • 52 percent of the economic impact of non-Kentucky jobs will occur in West Virginia, while 48 percent will be in Ohio.
  • Nearly one-in-every six jobs in Wayne County, West Virginia will be tied to Braidy, as well as one-in-every-seven jobs in Lawrence County, Ohio.

“The tristate region is home to a talented workforce eager to help companies like Braidy create prosperity. We chose Ashland, Kentucky because of these dedicated and hard-working people.” said CEO Craig Bouchard. “Dr. Koch’s study shows the power of private companies and communities working together. We have assembled a multi-disciplinary team consisting of the best of the best to make these impact estimates a reality.”
Mr. Bouchard spoke before the UN Global Climate Action Summit in NY last week. Braidy Atlas has taken a leadership role in the international coalition to bring the aluminum Industry to zero net emissions by 2050. The health and prosperity of our community are of a higher priority than political partisanship.

About the Braidy Atlas Mill:

  • The Braidy Atlas mill in Ashland, Kentucky (Braidy Atlas) will produce non-proprietary aluminum sheet for the automotive and food and beverage industries. Braidy will not supply aluminum to any branch or department of the US Government. Braidy is not seeking financing from the US Government.
  • The mill capacity is already 200% pre-sold utilizing non-binding and binding commitments to private industry customers for the first seven years of production.
  • Braidy Atlas, the first aluminum rolling mill to secure a “minor contributing source” air permit from the Federal EPA, targets 20% lower carbon emissions than next lowest competitor.
  • Braidy Atlas will become the first rolled products aluminum sheet producer to use 100% low-carbon inputs on an ongoing basis from its inception.
  • Rusal is investing $200 million of the $1.7 billion of capital required to build the Braidy mill.
  • Thanks to the hydro-produced low carbon aluminum Rusal will provide to the mill, Braidy will have the lowest carbon imprint in the global aluminum rolling mill industry.

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. 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. Braidy’s subsidiary, Veloxint, is an MIT-incubated lightweighting solutions company. Veloxint manufactures powder and parts with a patented nanocrystalline powder 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.

About Dr. James V. Koch:

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.

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

 

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.

 

By Simon Shuster/London and Vera Bergengruen/Ashland, Ky.

Last summer, it looked like things were finally about to change for Ashland, Ky. For two decades, the jobs that once supported this Appalachian outpost of 20,000 people on a bend in the Ohio River have been disappearing: 100 laid off from the freight-rail maintenance shop; dozens pink-slipped at the oil refinery; 1,100 axed at the steel mill that looms over the landscape. Then, on June 1, 2018, standing on a stage flanked by the state’s governor and business leaders, Craig Bouchard, the CEO of Braidy Industries, pointed across a vast green field and described a vision as though he could already see it.

 

See Original Document

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…