RAM Precision Industries Receives Nearly $1.1 Million from OAQDA to Invest in Solar Energy and Support Local Jobs

FOR IMMEDIATE RELEASE
October 1, 2024

Media Contact: Katie Lundy
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RAM Precision Industries Receives Nearly 1.1 Million from OAQDA to Invest in Solar Energy and Support Local Jobs

OAQDA-supported project increases energy efficiency for Dayton's small business manufacturer

COLUMBUS - The Ohio Air Quality Development Authority(OAQDA) has closed on bond financing of nearly $1.1 Million for RAM Precision Industries to support the installation of a solar energy system at the company's facility in Montgomery County. The project was reviewed through OAQDA's small business assistance program, which is expanding to support energy-efficient and clean air projects. This helps small businesses overcome financial barriers while transitioning to cleaner technologies and enhances their competitive edge in the industry.

"RAM Precision Industries has been a vital part of the Dayton community for 50 years, and we are proud to support their investment in their facility including with cleaner energy improvements like solar," said Executive Director of OAQDA Christina O'Keeffe. "This project is a great example of OAQDA's effort to serve the needs of small businesses as we adapt our existing programs to provide much-needed financing for energy upgrades, especially as many Ohio suppliers like RAM are implementing energy efficiency and cleaner generation options to serve customer demands and improve their resiliency."

As part of the project, RAM will install a 237.6 kW roof-mounted solar system, which is expected to generate approximately 317,250 kWh of clean energy annually. This significant investment reduces the company's reliance on traditional energy sources, providing bottom line savings.

"Investing in solar energy is not only a sustainable business decision but also a vital step toward securing our long-term success," said Rick Mount, Owner and CEO of RAM Precision Industries. "The support from OAQDA allows us to move forward with this important project while preserving jobs and contributing to the local economy."

The project will sustain 80 full-time jobs, ensuring RAM Precision continues its production of can tooling, medical tooling and aerospace parts as a prominent manufacturing supplier in Ohio for these industries.

OAQDA is committed to serving the economic and environmental needs of Ohio businesses and communities. OAQDA offers financing packages that are structured to suit the needs of
individual projects, which are incentivized with financial benefits using conduit bonds and grants to help small businesses cover a portion of project costs.

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The Ohio Air Quality Development Authority (OAQDA) is a non-regulatory government agency working to position Ohio as a leader in harmonizing a strong economy and a healthy environment. Since its creation in 1970, OAQDA has worked to improve air quality by supporting businesses, creating jobs, and improving communities while enhancing the health and safety of all Ohioans. To date, OAQDA has awarded more than $6 billion to finance air quality projects. For more information about OAQDA and its services, please visitohioairquality.org.