A $169M loan has been awarded to BETA Tech, a Burlington-based tech company, by the U.S. Export-Import Bank. This significant investment is a result of international interests in the company’s growth trajectory and its current and potential customers, which include economies like New Zealand, India, and Japan.
President Biden has highlighted the importance of this loan as an investment from the Asia Pacific into the U.S. private sector. The boost in funding is expected to support job creation in Vermont and expand manufacturing production in America. Vermont Senator Peter Welch has expressed his support for the loan, noting that it will help BETA Technologies lead the world in innovative aviation technology and contribute to creating more sustainable jobs in Vermont.
This loan represents an important milestone for BETA Tech as it continues to build its reputation as a global leader in electric aircraft technology.