|Founder||Craig T. Bouchard|
|Craig T. Bouchard (CEO)|
Braidy Industries owns both Veloxint, incubated at MIT, and NanoAl, incubated at Northwestern University.
Braidy Industries was founded by Craig T. Bouchard who wanted to create eco-friendly aluminum alloys. The industry demand was bending towards stronger and lighter materials and the company was founded to accommodate the market gap created by this generational shift.
Braidy Industries started off with an initial project of a fully integrated aluminum rolling mill in the Greenup County, Kentucky, comprising a 2.5 million square-foot area. The site is located in Eastern Kentucky and the facility costs were estimated to be around $1.6 billion.
The site for the mill is located on the Ohio River and the CSX railroad runs through the site as well as I-64 connects the site to various automotive plants in 300 miles around the region. This advantage allows the site to utilize the just-in-time approach.
The company is working with the Ashland Alliance and the Kentucky Economic Development Finance Authority (KEDFA) as a part of the Kentucky Business Investment program based on which they received up to $10 million in tax incentives.
Joint venture with RUSAL
In April 2019 Braidy announced a joint project with RUSAL, a Russian company partially owned by the oligarch Oleg Deripaska. The project is to develop the mill site in Ashland, Kentucky "to produce flat-rolled aluminium products for the U.S. automotive industry," according to a company press release.
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