legislation rubber stamp
Image provided by Dreamstime.

Kentucky politicians continue pursuit of Braidy funding

Bill introduced by legislators seeks refund of $15 million invested in stalled aluminum facility if no action by March 31.

January 13, 2022

Legislators in Kentucky, led by a state senator, have proposed legislation designed to recoup $15 million invested by the commonwealth of Kentucky to help build an aluminum rolling mill in Ashland, Kentucky.

The stalled aluminum project initially went by the name of Braidy Industries but changed its name to Unity Aluminum in 2020. Executive and board positions at the company also have undergone change in the past three years, as the project has failed to break ground in any meaningful way. Its current price tag, according to the Louisville, Kentucky-based Courier Journal, sits at $2.2 billion, with much of that funding not yet in hand.

In a Jan. 12 online article, the Courier Journal reports that Kentucky State Sen. Chris McDaniel is leading the effort to recoup the $15 million if Unity is unable to either report tangible progress or repay the amount on its own by March 31.

That article quotes McDaniel as saying, “I want to be very clear: I don’t want the commonwealth to get $15 million. I want Ashland to get an aluminum mill. But, unfortunately, I think the feelings of frustration and promises that have proven not to be true [have] reached a boiling point, and I think it is time to begin to apply additional levels of pressure.”

Additional coverage of the Braidy Industries effort can be found by searching the word “Braidy” on the Recycling Today website.