Ironbound Forge
Ironbound Forge Expansion Notes
A seventy-year-old forge with an ASME Section III stamp and a backlog it cannot currently fill.
The bottleneck in nuclear construction is rarely the reactor. It is large-diameter forgings, and there are very few shops in the country qualified to make them. Ironbound has been forging since 1954, holds an ASME Section III certificate, and turns away work. Proceeds buy a second ring forge. Revenue is contracted across six developers, so no single reactor program determines the outcome.
$9,408,000 committed of $32,000,000
$9,408,000 released · 29% subscribed
- Minimum
- $500
- Target coupon
- 6.25%
- Term
- 6 yr
- Investors
- 1,046
$100 per unit
Annual, fixed
Closes February 28, 2027 · 168 days remaining
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Principal risks of this offering
- Order backlog is contingent on customer programs proceeding to construction.
- Skilled trades labor availability constrains the pace of capacity expansion.
- Legacy environmental liabilities at a seventy-year-old industrial site are disclosed in the offering circular.
General risks of private securities
Private securities are speculative and illiquid. You should be prepared to hold this position for its full term and to lose the entire amount invested. Nuclear construction has a documented history of schedule and cost overrun. Platforms that sold equity in unbuilt energy projects have mostly failed; those that sold debt against operating assets with contracted offtake have mostly survived. That history is why the TRL tier of an offering matters more than its headline return.
A TRL score is not a prediction and not a rating. Read the offering documents in full before committing capital.