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Economic Development

NEW YORK — Braidy Industries, Inc. (“Braidy”) and London Stock Exchange listed En+ Group plc, announced the execution of a Letter of Intent (“LOI”) specifying basic terms for a potential $200 million lead investment for its Braidy Atlas mill by En+ Group subsidiary, United Company RUSAL plc (“Rusal”). Rusal is the world’s largest producer of aluminum outside of China and historically, has been the U.S.’ number two non-domestic supplier of prime aluminum. The LOI becomes binding subject to the final approval by the respective boards of both companies. In exchange for its investment, Rusal will obtain a 40% share in the project. Rusal will serve as Braidy’s exclusive supplier of low-carbon aluminum, providing close to 2.0 million mtons over 10 years. This will be the world's largest order for one mill of high-quality, pre-alloyed and low-carbon primary aluminum slabs. Braidy Atlas mill’s primary aluminum purchase has a market value of approximately $500 million per year. En+ Group Executive Chairman and respected climate action advocate, Lord Barker, will assume the role of co-chairman of the Braidy Atlas mill alongside Braidy Industries Chairman and CEO Craig Bouchard.

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Chamber of Commerce

EASTPARK — Having a plan B in case Plan A doesn’t work out isn’t enough to ensure success, some high school seniors learned Thursday. “You’ve got to have plans A, B, C and D. You’ve got to have backups to your backup,” Crabbe Elementary School principal Uriah Tolbert said to 19 African-American seniors from schools in Boyd and Greenup counties. Tolbert dispensed his advice along with some insights from his own life during the 26th annual NAACP Senior Salute at Ashland Community and Technical College’s EastPark campus. Raised by his grandmother and an aunt in Ashland, where he attended Hatcher Elementary and graduated from Paul Blazer High School in 2004, Tolbert credited scores of teachers from elementary on up who guided him to academic and career success.

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President's Report

April 19, 2019

Clarity and Goodwill for All Hello from the desk of the Ashland Alliance!  These are incredible days to be living in our area. I feel blessed to have the chance to play our role in the rebirth of this place we call home. I know at times issues, situations, and perceptions seem to divide us. I hope everyone can hold on to hope and realize our best days are ahead. Now that I have my sermon out of my system let's talk about the week! Monday, I experienced a magical day. I made a one-day trip to New York and was invited by Braidy Industries to the New York Stock Exchange for the announcement of their lead investor in the Braidy Atlas Mill by EN+ Group Subsidiary, United Company Rusal the world’s largest aluminum company outside of China.  To say this was a wonderful experience is an understatement. The NYSE is the symbol of American capitalism. The history of being in the building and seeing the heartbeat of where business and industry meet was incredible. It was even more than that. It was both a beginning and a culmination point. Braidy has been a large part of our lives for two years. The progress they have made and the renewed hope for this region is spectacular. Now with Rusal being announced the faith we have had has paid off. Craig Bouchard and his team have found a diamond in this region and the partners that are building his vision into a reality. I hope everyone can come together and embrace the day, the opportunity, and the future. Our state flag has it right. United we stand, divided we fall. I am proud of the progress Braidy, and this community made this past week. Let’s embrace the positive and move forward together. —Tim Gibbs, Ashland Alliance

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