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

 

World’s largest low-carbon primary aluminum producer Rusal intends to invest $200 million; to build the first greenfield aluminum mill in the U.S. for 37 years

Partnership enables Braidy Industries to become the first U.S. rolled products aluminum sheet producer to use 100% low-carbon inputs from inception

Braidy secures record low emissions air permit for aluminum mills from the Federal EPA, targets 20% lower carbon emissions than next lowest competitor

NEW YORK–(BUSINESS WIRE)–Today, Braidy Industries, Inc. (“Braidy”) and London Stock Exchange listed En+ Group plc, announced the execution of a Letter of Intent (“LOI”) specifying basic terms for a potential $200 million lead investment for its Braidy Atlas mill by En+ Group subsidiary, United Company RUSAL plc (“Rusal”).

Rusal is the world’s largest producer of aluminum outside of China and historically, has been the U.S.’ number two non-domestic supplier of prime aluminum. The LOI becomes binding subject to the final approval by the respective boards of both companies. In exchange for its investment, Rusal will obtain a 40% share in the project. Rusal will serve as Braidy’s exclusive supplier of low-carbon aluminum, providing close to 2.0 million mtons over 10 years. This will be the world’s largest order for one mill of high-quality, pre-alloyed and low-carbon primary aluminum slabs. Braidy Atlas mill’s primary aluminum purchase has a market value of approximately $500 million per year.

En+ Group Executive Chairman and respected climate action advocate, Lord Barker, will assume the role of co-chairman of the Braidy Atlas mill alongside Braidy Industries Chairman and CEO Craig Bouchard.

This strategic partnership aims to create on an end-to-end basis, the first low-carbon impact industrial aluminum rolling mill operation in the world. Braidy Atlas mill will be the first North American company to contract Rusal’s premier ALLOW-branded (certified low-carbon) aluminum slabs and P1020 as its exclusive primary inputs. No U.S. domestic smelter currently delivers low-carbon primary aluminum slabs. Rusal is the sole primary aluminum producer globally that is capable of meeting Braidy’s quantity requirements and sustainability standards. This partnership will enable Braidy to become the first company to use 100% low-carbon inputs on a permanent ongoing basis.

Chairman and CEO Craig Bouchard said, “In 2021, Braidy Atlas will make the largest order for primary aluminum rolling slab worldwide. This partnership assures that Braidy’s requirements will be met with the newest high-quality and low-carbon capacity. The bottom line is that without Rusal we could not build an environmentally-conscious mill of this scale. We enter the market with the perfect customer proposition – low cost, high quality and low carbon is the future of aluminum.”

Jorge Vazquez, Founder and Managing Director of HARBOR Aluminum Intelligence, one of the world’s leading aluminum industry consultancies, said, “The 10-year supply contract between Braidy Atlas and Rusal represents the world’s largest low-carbon primary aluminum slab order for a single mill. The contract will enable Braidy Atlas to have a competitive advantage in terms of cost, quality and sustainability, while providing a market value of over $5 billion to Rusal.”

Lord Barker, Executive Chairman of En+ Group, said, “This announcement is an important first step in forging the long-term partnership that will be vital to building this globally unique plant. Of all prime producers around the world only Rusal, the largest outside China, has the capacity to supply such a large new plant with the high-quality, low-carbon aluminum it needs.”

Kevin Parker, Independent Non-Executive Director of UC RUSAL and sustainability expert said, “This deal showcases Rusal’s commitment to sustainability and environmental protection. The synergies created by Rusal’s low-carbon aluminum and Braidy Industries’ downstream assets will be a game-changer for the aluminum industry in the United States.”

Significant Economic Impact, 650 Permanent Jobs Created in the Heart of Coal Country

Enabled by the efficiencies of advanced manufacturing and coupled with manufacturing facilities for Veloxint and NanoAl, Braidy Atlas will create 1,500 construction jobs, 650 new permanent advanced manufacturing jobs in Appalachia and approximately 3,600 additional jobs in the surrounding communities. According to a recently completed economic impact study, Braidy Atlas will contribute $2.8 billion to the Commonwealth of Kentucky and $1.54 billion to Eastern Kentucky by the year 2021. In addition, over 18,025 new jobs will be created as a result, amounting to the generation of 31,000 incremental job years for the Commonwealth.

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.

About Braidy Industries, Inc.:

  • Braidy Industries is a multi-material lightweighting solutions company and sole owner of three inter-operating business units: Veloxint, Braidy Labs and Braidy Atlas.
  • Braidy Atlas is the world’s lowest-cost aluminum rolling mill under construction in Ashland, Kentucky, optimized to produce interior structural metal and exposed sheet parts for the transportation industry.
  • Veloxint, acquired by Braidy in 2018, manufactures ultra-high strength components using nano-enabled powder metallurgy approaches developed at MIT. Veloxint parts are designed for dramatic lightweighting and performance improvements in transportation, industrial and consumer products applications.
  • NanoAl, acquired by Braidy later in 2018, commercializes nanocrystalline strengthening technology developed at Northwestern University to make aluminum stronger and lighter. The NanoAl technologies are at the heart of Braidy Labs, charged with keeping Braidy on the leading edge of advanced manufacturing technology by introducing advanced strength properties into traditional rolled products.
  • Braidy Industries is led by an accomplished Board of Directors, including world-renowned leaders in economics, industry, academia, materials science and rapid-growth technology commercialization.

For more information, visit www.braidy.com.

About En+ Group plc:

  • En+ Group plc is a leading international vertically-integrated aluminum and hydropower producer.
  • En+ Group was listed on the London Stock Exchange in 2017, and owns a controlling share of United Company RUSAL plc.
  • The Group employs 100,000 people globally operating in 14 countries across five continents.
  • The Group is focused on finding new technological solutions to further reduce the carbon footprint of its activities.
  • Our business advantage stems from the full integration of world- class hydropower assets that reliably and sustainably supply the energy required for the production of aluminum.

For more information, visit www.enplusgroup.com.

About United Company RUSAL plc:

  • UC RUSAL plc is the largest low-carbon aluminum producer in world and a subsidiary of En+ Group plc.
  • In 2018, the total production of aluminum was 3.8 mmt, 5.8% share of global output.
  • Rusal is a completely vertically-integrated aluminum company with assets right through the production process – from bauxite and nepheline ore mines to aluminum smelters and foil mills
  • The company employs over 62,000 people globally.
  • Launched in 2018, Rusal’s low-carbon ALLOW produces certified and independently verified metal with a carbon footprint level lower than 4t CO2/t Al, as compared to the world average at approximately 12t CO2/t.

Contacts

Braidy Industries, Inc.:
Jaunique Sealey
Tel: 606-200-5066
jsealey@braidyindustries.com

En+ Group:
Mariana Quevedo Vallejo
Email: marianaq@bljworldwide.com
Phone: +1 917 446 1583

Andrew Leach
Tel: +44 (0) 20 7796 4133
Email: ENplus@hudsonsandler.com
Hudson Sandler LLP

January 14, 2019

Mr. Modrowski brings significant experience in greenfield mill construction, commissioning and metals processing to the role and will lead the Braidy Atlas mill through the current construction into operations slated to begin in 2020

ASHLAND, Ky.–(BUSINESS WIRE)–Braidy Industries, Inc. (“Braidy Industries”), an Ashland, Kentucky-based manufacturer of metals for the global transportation and defense industries, has named Thomas Modrowski as President of its subsidiary, Braidy Atlas. With this appointment, Braidy Industries moves another step closer to leading the rebuild of Appalachia with the first state-of-the-art greenfield aluminum mill in over 30 years.

“Tom’s expertise is ideal to lead Braidy Atlas to rapid automotive qualification with our OEM partners. He is a proven contributor to our executive management team, and has kept us on-track and on-budget in our ongoing construction.”
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Mr. Modrowski, who has served as Executive Vice President of Construction for Braidy Industries since June 2017, will head Braidy Atlas’ operations, overseeing mill completion and integrated aluminum sheet production. He brings nearly 40 years of experience in aluminum and steel processing, and unique experience with greenfield construction in the steel industry.

 

December 25, 2018

Second annual post-secondary studies scholarship fund expands to include three additional schools – East Carter High School, West Carter High School and Carter Christian Academy

Scholarship recipients will be offered an internship at Braidy Industries

ASHLAND, Ky.–(BUSINESS WIRE)–Braidy Industries, Inc. (“Braidy”) announced today that again this year, the Company’s Board of Directors will grant post-secondary scholarships and internships at Braidy to graduating seniors at local high schools.

“We appreciate so much the investment Braidy Industries puts into area high school seniors through their scholarship program”

Braidy has expanded the program to add three more schools to the eight included in the grant program last year. The 11 schools participating across three counties will be East Carter High School, West Carter High School, Carter Christian Academy, Boyd County High School, Fairview High School, Greenup County High School, Holy Family School, Paul G. Blazer High School, Raceland High School, Rose Hill Christian School and Russell High School.

“We continue to invest in the talented and driven youth of Eastern Kentucky,” said Braidy Industries CEO and Board Chairman Craig Bouchard. “Developing future leaders of Appalachia is a top priority for Braidy. We also welcome students to our Advanced Integrated Technology program at ACTC, which empowers youth to become the leaders of our local community and beyond.”

 

Facility will be the first technologically advanced Greenfield mill built in the U.S. in 35 years

Industrial Project Innovation

Oct 22, 2018

GREENVILLE, S.C., Oct. 22, 2018 /PRNewswire/ — Braidy Industries, Inc. (Braidy Industries) has selected Industrial Project Innovation, LLC (IPI) to serve as construction manager for subsidiary Braidy Atlas LLC, a $1.6 billion aluminum rolling mill in Ashland, Kentucky. Working as part of Braidy Industries’ management team, IPI’s role will include program planning, construction management, project cost and schedule control, among other leadership responsibilities.

Braidy Atlas will be the first Greenfield aluminum rolling mill built in the U.S. in 35 years. The facility will help meet the rapidly growing demand from automotive and aerospace industries for lightweight exposed sheet aluminum and will assist efforts to rebuild Appalachia. Braidy Atlas broke ground on its 2.5 million square-foot, fully integrated aluminum rolling mill in Eastern Kentucky in June 2018 and expects its completion in 2020.

“We are honored Braidy Industries chose us to work with them on the management of such a significant project that will have an enormous positive economic impact on eastern Kentucky,” said Russ Braasch, owner and operations manager for IPI. “Bringing our unique experience to every stage of industrial planning will help enable Braidy Industries to become the leading high-quality, low-cost producer in the aluminum sector with one of the most advanced rolling mills in the world.”

IPI joins the previously announced team of Kiewit Construction, SMS Group and EBNER Industrieofenbau GmbH Construction to build the state-of-the-art facility. The mill will be 2.5 million square feet under roof and create over 1,000 construction jobs. The CSX railroad runs through the property, and highway I-64 connects the mill site to some of the nation’s largest auto-making and aerospace customers. Once complete, Braidy Industries will enjoy significant competitive advantages as the lowest cost producer of high-quality aluminum sheet and plate for the automotive industry, and ultra-high strength alloys for the aerospace industry.

“Braidy looks forward to working with our close friends and experts at IPI, who have strong aluminum rolling mill experience developed over many decades,” said Braidy Industries Executive Vice President of Construction, Tom Modrowski. “By partnering with IPI, we are taking proactive steps towards meeting our construction projections as we deliver on our promise to revitalize the communities of Greenup and Boyd Counties.”

About Industrial Project Innovation, LLC
IPI and its team of globally experienced associates, specialize in the planning, design and program management of manufacturing facilities globally with a focus on the automotive, aerospace, aluminum and foods industries. IPI’s clients also include industry leaders Honda, Toyota, BMW, Boeing and many others. For more information, visit www.ipi-group.net.

About Braidy Industries, Inc.
Braidy Industries is a future-leaning advanced manufacturer of metals for the global transportation and defense industries. The company’s first project, the Phase I 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 5000x and 6000x aluminum sheet for the automotive industry. Braidy’s Veloxint subsidiary is an MIT-incubated light weighting solutions company that is manufacturing parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, acquired on September 18, 2018, is NanoAL, a world leader in the science of nanocrystalline technology applied to sheet aluminum. For more information, visit www.braidy.com.

Contact:
Summer Ramsey Dickson
Owner, Ramsey Strategies
(803) 354-2206, ramseystrategies@gmail.com

SOURCE Industrial Project Innovation, LLC

 

ASHLAND, Ky.–(BUSINESS WIRE)–Braidy Industries, Inc. (“Braidy”) announced today that it has commenced a common stock offering to raise up to $400 million. The offering is primarily directed at institutional investors, but a portion of the offering has been reserved for Main Street investors under the SEC’s CF rules adopted under the JOBS Act. In connection with the offering, Braidy will launch its investor “road show” for “accredited” investors on September 25th in New York.

The offering provides interested parties the opportunity to purchase Braidy Industries’ common stock for $18 per share. Braidy is offering $1,070,000 in common stock, the maximum allowed under a Regulation CF offering, and $400,000,000 in common stock in its parallel Rule 506(c) offering available to accredited investors only. The offering is expected to be held open for a six-week period. To read about the Braidy opportunity and purchase its common stock, visit the website of Netcapital’s crowdfunding portal at www.netcapital.com/companies/braidy.

Equity investments in private placements are speculative and involve a high degree of risk, and those investors who cannot afford to lose their investment should not invest. Investors should not make any investment decision without carefully reviewing the materials on Netcapital’s website.

 

About Braidy Industries:

Braidy Industries is a future-leaning advanced manufacturer of metals for the global transportation and defense industries. The company’s first project, the Phase I 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 5000 and 6000 aluminum sheet for the automotive industry. Braidy’s Veloxint subsidiary is an MIT-incubated light weighting solutions company that is manufacturing parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, acquired on September 18, 2018, is NanoAL, a world leader in the science of nanocrystaline technology applied to sheet aluminum.

 

About Netcapital Funding Portal, Inc.:

Netcapital Funding Portal, Inc. (“Netcapital”) is registered with the SEC as a funding portal and is a member of the Financial Industry Regulatory Authority, Inc. (FINRA). All Regulation CF offerings are conducted through Netcapital. Netcapital does not give investment advice, endorsement, analysis or recommendations with respect to any securities. For inquiries related to Regulation CF securities activity, contact Netcapital Funding Portal Inc.: hello@netcapital.com.

 

Contacts

Media:
Braidy Industries, Inc.
Jaunique Sealey, 606-575-3121
jsealey@braidyindustries.com

NanoAl, a materials research and technology company, designs, develops and commercializes high-performance aluminum alloys based on scientifically-designed nanostructures

ASHLAND, Ky.–(BUSINESS WIRE)–Braidy Industries, Inc. (“Braidy”) has acquired NanoAl LLC (NanoAl), a world leader in the science of nanocrystalline strengthening technology applied to sheet aluminum, as a third wholly-owned subsidiary. NanoAl will join the Braidy Atlas aluminum rolling mill and Veloxint in the Braidy Industries company portfolio of holdings.

NanoAl was founded out of the Department of Materials Science at Northwestern University to commercialize the science of developing stronger aluminum alloys through control of key structural features at the nanoscale. Braidy believes the technology has the potential to significantly enhance the specific strength of aluminum to be produced by its Braidy Atlas mill, creating a competitive advantage within the automotive and aerospace OEM marketplace.

“We believe NanoAl’s innovative approach will enable sheet aluminum 20 percent stronger than conventional grades, while maintaining lower cost. The technology also applies to powder metallurgy, including 3D printing applications, allowing additional synergies between the Braidy Atlas mill and Veloxint,” said Veloxint Chief Executive and Chief Technology Officer of Braidy, Dr. Alan Lund. “This is another exciting step towards our goal of rebuilding Appalachia with cutting edge technology focused on lightweighting solutions.”

Dr. Nhon Q. Vo, Chief Executive, Chief Technology Officer and Co-Founder of NanoAl said, “Our new partnership with Braidy Industries and Veloxint provides the opportunity to scale our research and development capabilities and become the innovation leader in nano-science technology of light metals.”

Craig T. Bouchard, Braidy Industries Chairman and Chief Executive said, “We have been pleasantly surprised at the opportunity to grow our powder metallurgy business via acquisition. And, we have been approached by numerous parties to consider building our second rolling mill. We intend to pursue these opportunities.”

 

About Braidy Industries:

Braidy Industries is a future-leaning advanced manufacturer of metals for the global transportation and defense industries. The company’s first project, the Phase I 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 5000 and 6000 aluminum sheet for the automotive industry. Braidy’s Veloxint subsidiary is an MIT-incubated light weighting solutions company that is manufacturing parts with a novel nanocrystalline technology. Braidy’s newest subsidiary, acquired on September 18, 2018, is NanoAl, a world leader in the science of nanocrystaline technology applied to sheet aluminum. To learn more about Braidy Industries, visit www.braidy.com.

 

About NanoAl:

NanoAl LLC is a materials technology company dedicated to designing, developing, and commercializing high-performance aluminum alloys based on scientifically-designed nanostructures. NanoAl was formed after 17 years of research at Northwestern University. NanoAl alloys can be processed by conventional (casting) and non-conventional (powder metallurgy) methods, and have a wide range of application in the automotive, power transmission, and other industries. To learn more about NanoAl, visit https://www.NanoAl.com/.

 

Contacts

Media:
Braidy Industries, Inc.
Jaunique Sealey, 606-575-3121
jsealey@braidyindustries.com

ASHLAND, Ky. (September 5, 2018) – Braidy Industries, Inc. and its subsidiary Veloxint announced today the appointment of five new key executives. The news comes as momentum continues for Veloxint and for Braidy Industries’ $1.6 billion Braidy Atlas rolling mill project, following the official groundbreaking events in early June.

Braidy Industries has appointed Julio Ramirez to the position of Chief Financial Officer. Ramirez brings experience as a former founder, CEO and CFO, driving corporate, financial and digital strategy and performance for a number of diverse Fortune 500 companies, including The Hackett Group, Molson Coors Brewing Company, Summit Materials and The Freeman Company. Ramirez also served as an audit partner at KPMG for 15 years, and was a U.S. Army Captain. Ramirez will report directly to Braidy Industries CEO Craig Bouchard.

At Veloxint, Major General Kevin McNeely (Ret.) joins as Chief Operations Officer. McNeely brings over two decades of experience in government, personnel management and policy and process development, as well as thirty-eight years of military service to the position. He previously served as Director of Manpower and Personnel at the National Guard Bureau, Assistant to the Chairman for National Guard Matters, Deputy Director of Strategy, Policy and Programming for the U.S. European Command and Director of Strategy, Policy and International Affairs at the National Guard Bureau. McNeely will report directly to Veloxint CEO Dr. Alan Lund.

Dr. Phoebe Kwan is assuming the role of Chief Commercial Officer at Veloxint, bringing expertise in strategic positioning and development of high-performance materials across a range of industries, including technology, medicine and energy. Dr. Kwan has held executive leadership roles in product management, marketing, business development and external corporate venturing at both early-stage startups and Fortune 500 companies, and holds a PhD in Chemistry from the Massachusetts Institute of Technology. Kwan will report directly to Veloxint CEO Dr. Alan Lund.

Veloxint has also appointed Dr. Judson “Jud” Marte as Vice President of Product Development. Formerly Principal Scientist and Product Manager for two decades at GE Global Research, Marte will apply his expertise as a materials scientist specializing in processes producing low-cost, high-efficiency materials to oversee transformative component design using Veloxint’s thermally-stable nanostructured alloys. Marte received his M.S. and PhD in Materials Science and Engineering at Virginia Tech, where he conducted research for five years.

Finally, John Gaspervich joins Veloxint as Executive Vice President of Manufacturing. Gaspervich brings thirty years’ experience in the metal injection molding industry, and is a leading expert in MIM parts production and market applications. In his four-decade career working with cutting-edge precision manufacturing technologies, Gaspervich has held executive leadership roles in manufacturing, engineering, quality and business development for leading North American and international companies in the MIM industry.

Of the developments, Craig Bouchard, Chief Executive Officer of Braidy Industries said, “A company is only as good as its people and its community. We are only as great as our culture. To lead the rebuild of Appalachia is a challenge and a true responsibility. We will succeed because great people want to join us and make a difference.”

About Braidy Industries:

Braidy Industries is a future-leaning advanced manufacturer of metals for the global transportation and defense industries. The company’s first project, the Phase I 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 5000, 6000 and 7000 aluminum sheet and plate for the automotive and aerospace industries.

 

Media Contact:

Jaunique Sealey
jsealey@braidyindustries.com
606.575.3121

Braidy Industries, headquartered in Ashland, Kentucky, raised $75 million dollars in a common stock issuance at $10 per share

Veloxint, with its proprietary ultra-high-strength powder metallurgy technology, was acquired in a stock exchange for 100% of its outstanding equity, making Veloxint a wholly-owned subsidiary of Braidy Industries

Veloxint manufacturing will be co-located at the Braidy Industries EastPark site in Ashland, Kentucky

ASHLAND, Ky.–(BUSINESS WIRE)–Less than one year after their announcement of plans to construct a $1.5 billion greenfield aluminum mill in Greenup County, Kentucky, Braidy Industries announces its successful completion of a $75 million Series B common stock issuance at $10 per share. Following the close of this financing, Braidy Industries finalized its acquisition of 100% of the outstanding equity of MIT-incubated ultra-high strength alloy and powder metallurgy provider, Veloxint.

“We are excited to officially bring Veloxint into the Braidy Industries family. This will enable the next step in fulfilling our original vision of transforming the metals industry using Veloxint’s proprietary materials design toolset to offer high-performance, cost-effective next-generation metal products.”

Craig T. Bouchard, Braidy Industries Chairman and CEO, said, “The close of our Veloxint acquisition places Braidy Industries in position to meet the demands and challenges of a transportation industry in need of cost-effective light-weighting. In the very near term, Veloxint will become the ‘lighter and stronger’ standard for transportation, mining, tools and consumer goods. This is a terrific win for Kentucky, and consistent with the goal of converting the Northeast corner of our beautiful state into the global intersection of science and advanced manufacturing.”