Vermont-based tech company BETA Tech is receiving a $169M loan from the U.S. Export-Import Bank thanks to international interests. This loan is specifically for the electric aircraft company, which has shown significant growth potential and current and potential customers in economies like New Zealand, India, and Japan.

President Biden highlighted this investment as a valuable move from the Asia Pacific into the U.S. private sector. Senator Peter Welch also applauded the decision, stating that with the support of EXIM Bank, BETA Technologies will continue to create sustainable jobs in Vermont, expand manufacturing production in America, and lead the world in innovative aviation technology.

The loan from EXIM Bank will allow BETA Tech to further its growth trajectory and continue serving a global customer base. This investment will not only benefit the company but also have a positive impact on the economy by creating more sustainable jobs in Vermont and expanding manufacturing production in America. Senator Welch emphasized the importance of this loan’s positive impact on the innovative aviation technology industry and BETA Tech’s potential to lead the world in this area.