A $169M loan from the U.S. Export-Import Bank has been granted to BETA Tech, a Burlington-based tech company that specializes in electric aircraft. The loan is a result of international interest in the company’s significant growth potential and its current and potential customers in economies such as New Zealand, India, and Japan.

President Biden highlighted this investment from the Asia Pacific as a valuable opportunity for the U.S. private sector. Vermont Senator Peter Welch also expressed his approval of the move, stating that with EXIM Bank support, 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 will allow BETA Tech to further their growth trajectory and continue to serve 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 Peter Welch emphasized that this loan will have a significant impact on the innovative aviation technology industry and BETA Tech’s potential to lead the world in this area.