US Finance, Inc facilitates financing $100MM for battery production plant Æsir Technologies in Rapid City, South Dakota.
US Finance, Inc., a full-service financial organization specializing in progressive financing options for the advanced business environment, announced it is facilitating $100MM in financing for Æsir Technologies, Inc. to develop its new gigafactory in Rapid City, South Dakota.
Æsir intends its new South Dakota location to generate nearly 2 billion watt hours of batteries per year. The batteries produced in this factory will service the data center and 5G network markets providing backup power to prevent data loss or service interruption during power outages.
South Dakota Governor Kristi Noem released a video with “Congratulations on this monumental accomplishment,” adding
“What’s impressive is the initial investment of 400 jobs with a bold plan to expand to 1,200 in the coming years.”
Phil Bianca, US Finance, Inc. CEO said.
US Finance is proud to facilitate financing this vital production plant for two main reasons.
“First, Æsir’s contribution to the overall workforce by adding so many jobs to the local economy and further affecting the region. Second, our participation and financial partnership in furthering Æsir’s giant leap forward in battery development and the tremendous impact on producing safer methods of energy production while contributing to the overall Green Movement.”
“Æsir’s ingenious battery designs can revolutionize and innovate in ways yet unseen in this industry, and US Finance is pleased to be part of this exciting endeavor,” Bianca added.
Randy Moore, Æsir Technologies, Inc. President and CEO said.
US Finance has been a linchpin in the process of landing our new gigafactory location in Rapid City, South Dakota.
“We’re thankful for our partnership with US Finance as that has enabled such an exciting phase in our company’s growth. It’s a team effort and huge win for employment, economy, environment, and effects on our country’s defense and civilian uses.”
US Finance, Inc., headquartered in Chicago, with seven additional locations throughout the US and Canada, has been providing quality financing for more than 30 years. “We work globally with an emphasis on North America to serve all of your financing needs with an ability to deliver global funding wherever the US is able to provide business assistance,” Bianca said.
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US Finance, Inc. Facilitates Financing $100MM for Battery Production Plant Æsir Technologies in Rapid City, South Dakota, CHICAGO, October 20, 2021
