Beta Technologies, Inc. (NYSE: BETA) and the Export-Import Bank of the United States announced their intent to expand an existing financing agreement to provide up to $1 billion in total financing, according to a company press release.

The proposed expansion would add approximately $830 million in incremental capital to an existing $170 million financing arrangement that previously supported construction of Beta's aircraft production facility in South Burlington, Vermont.

Beta said proceeds from the proposed financing would be used to expand vertical integration of its manufacturing operations, increase production capacity for electric propulsion systems, and approximately double throughput across its manufacturing facilities over the next several years.

Kyle Clark, founder and chief executive officer of Beta, said the company raised approximately $1.2 billion through its 2025 IPO and that the EXIM relationship is intended to provide an additional $1 billion of non-dilutive growth capital to fund capital expenditures supporting domestic manufacturing.

Since the initial $170 million EXIM financing was completed, Beta said its commercial aircraft backlog grew from approximately $1 billion to $3.9 billion. The company said it has also added revenue streams including direct sales of flight controls and propulsion systems, and expanded its government business to include classified contracts.

Beta is scheduled to release its second quarter 2026 financial results before market open on August 12, 2026, followed by a webcast at 8:30 a.m. ET.

The proposed financing remains subject to due diligence, execution of definitive documentation, and receipt of required approvals. Neither party has made a binding commitment, and there is no assurance the transaction will be completed.