“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,”
CHICAGO, ILLINOIS, UNITED STATES, OCTOBER 4, 2021 – US Finance, Inc., a full-service financial organization specializing in progressive financing options for today’s 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.”
US Finance, Inc. CEO Phil Bianca 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 – we couldn’t agree more with Governor Kristi Noem’s support of this critical project. 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.
“US Finance has been a linchpin in the process of landing our new gigafactory location in Rapid City, South Dakota,” Æsir Technologies, Inc. President and CEO Randy Moore said. “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.”
Æsir Technologies, Inc. specializes in the development and commercialization of next-generation Nickel-Zinc (NiZn) battery technologies that utilize sustainable, non-toxic materials that can be safely and easily recycled. With headquarters in Joplin, Missouri, the company currently operates a research and development facility in Bozeman, Montana, and a low-rate initial production facility in Joplin, Missouri.
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.
Name: US Finance, Inc. Phone: 815-578-4200