VIP Investment Credit Annual Award to BAM Inc.

BAM receives Energy Credit from TVA for investing in development, Innovation, and jobs in Tennessee

BAM, Inc. is the second largest industrial user of power in the Lenoir City Utility Board (LCUB) district in the Knoxville, TN area. Each year, the Tennessee Valley Authority (TVA) and LCUB combine to award innovative, companies in the region who are investing in capital, new buildings, and technology to propel the economic growth in the region. This ultimately increases jobs and tax revenues. 

Brittney Brown, Economic Investment Advisor at the TVA stated, “BAM Inc. has completed its VIP Investment Credit Year Three Annual Certification requirements. Through your recent efforts, BAM Inc. is eligible to receive a Year Four award. TVA Economic Development is proud to have been a part of BAM Inc.’s investment in the region and we hope to continue to partner with you in the future. TVA’s Economic Development and Lenoir City Utilities Board want to see BAM Inc. continue to succeed in the Tennessee Valley region.”

Greg Powers, President of BAM, commented, “We are pleased to receive this important Energy Credit award sponsored by the TVA and Lenoir City Utility Board. BAM is completing a new building, located on Interstate 40 in Knoxville, to add new furnace capacity for high temperature processing of carbon used in aircraft and automobile brakes, defense and space thermal protection systems, and coating electrodes for renewable energy sources.”

About BAM: BAM is an advanced materials company utilizing proprietary technology to operate 15 high temperature furnace systems for processing and manufacturing carbon solutions. BAM is nestled in the foothills of the Smoky Mountains by the Department of Energy’s Oak Ridge National Lab and the University of Tennessee. BAM was founded in the 1980s as American Furnace in Knoxville, TN, and later renamed North American Advanced Materials. In 1995, the company was acquired and became Bethlehem Advanced Materials, which was eventually shortened to BAM. Today, the company is owned by Loar Group, a talented operating company owning multiple niche part manufacturing companies in the aerospace industry.