EXIM: Electric Airplane Venture to Get $100 Million

Posted Friday, October 13, 2023 10:33 am

The board of the Export Import Bank of the United States (EXIM) announced the consideration of a long-term loan or financial guarantee in excess of $100 million to Beta Technologies, Inc, a Vermont-based builder of battery-powered aircraft.

Beta is building a plant in Burlington VeT and seeking certification from the FAA of its aircraft and manufacturing processes.

"The financing will enable the production of electric-powered aircraft, a portion of which is expected to be exported," according to EXIM.

Beta was founded by Kyle Clark and satellite / biopharmaceutical pioneer Martine Rothblatt. The firm's Board includes inventor Dean Kaman and Boston Scientific founder John Abele.

EXIM's "Make More in America initiative" provides financing to US manufacturers whether or not their output is expected to be exported..

FR Document: 2023-22641
Citation: 88 FR 70978

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EXIM: Electric Airplane Venture to Get $100 Million

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