BETA Tech, a technology company based in Burlington, has received a $169 million loan from the US Export-Import Bank. This investment is aimed at the electric aircraft company, which has shown significant growth potential and current and potential customers in economies such as New Zealand, India and Japan.
The loan was welcomed by President Biden as a valuable investment from the Asia-Pacific region in the US private sector. Vermont Senator Peter Welch also praised the move, stating that with EXIM Bank’s support, BETA Technologies will continue to create sustainable jobs in Vermont, expand manufacturing in America and lead the world in innovative aerospace technology.
This investment will allow BETA Tech to continue its growth trajectory and serve a global customer base. Senator Peter Welch emphasizes the positive impact this loan will have on the innovative aerospace technology industry and the potential for BETA Tech to lead the world in this field. The loan from the US Export-Import Bank will not only benefit the company but also the economy by creating more sustainable jobs in Vermont and expanding manufacturing production in America.