Curated News
By: NewsRamp Editorial Staff
October 23, 2024
ASTRO America's 'AM Forward' Initiative Receives Final Approval for Private Equity Fund
Discuss on Reddit
LinkedIn
Substack
TelegramTLDR
- ASTRO's AM Forward initiative secures final federal approval for the Stifel North Atlantic AM-Forward Fund, attracting significant capital commitments from industry-leading companies.
- The Fund, earning a Small Business Investment Company (SBIC) license in partnership with the DOD under the SBIC Critical Technology (SBICCT) initiative, aims to use a range of financing structures targeted to the specific needs of small businesses.
- The initiative accelerates small businesses’ adoption of additive manufacturing (“AM”, or 3D printing) technology to advance key aerospace and defense supply chains across the country, thus increasing national security and creating domestic jobs.
- ASTRO America's AM Forward initiative marks a historic moment in the nation’s effort to build, scale and accelerate public-private investments in critical technologies, reshaping the future of manufacturing technology and policy.
Impact - Why it Matters
This news matters as it highlights a significant milestone in the effort to strengthen America's key supply chains and increase national security by accelerating small businesses’ adoption of additive manufacturing technology. The approval of the Fund is a historic moment that will support small and medium-sized manufacturers and create domestic jobs. The initiative also aims to advance key aerospace and defense supply chains across the country.
Summary
Today, executives from ASTRO America will join senior officials from the U.S. Department of Defense and Small Business Administration at the Pentagon to mark a major milestone in its “AM Forward” initiative. The initiative aims to accelerate small businesses’ adoption of additive manufacturing technology to advance key aerospace and defense supply chains across the country. The announcement of final federal approval for the Fund, in partnership with the DOD under the SBIC Critical Technology initiative, marks a historic moment in the nation’s effort to build, scale and accelerate public-private investments in critical technologies. This effort will support small and medium-sized manufacturers and increase national security.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, ASTRO America's 'AM Forward' Initiative Receives Final Approval for Private Equity Fund
