BETA Technologies gets international budget boost

Published: Nov. 20, 2023 at 6:18 AM EST
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SOUTH BURLINGTON, Vt. (WCAX) - BETA Technologies is getting a boost thanks to international interests.

The South Burlington-based tech company is receiving a $169 million loan from the U.S. Export-Import Bank. The loan for the electric aircraft company was approved because of the company’s growth trajectory, as well as its current and potential customers. Those customers include economies like New Zealand, India and Japan.

President Biden highlighted this loan as a valuable investment from the Asia Pacific into the U.S. private sector.

Sen. Peter Welch, D-Vermont, applauded the move, saying, “With the support of the EXIM Bank, BETA Technologies will continue to create more sustainable jobs here in Vermont, expand manufacturing production in America, and lead the world in this innovative aviation technology.”