Archer Receives First U.S. Air Force Payment On Landmark Contracts Valued At Up To $142 Million
04 10월 2023 - 10:00PM
Business Wire
- U.S. Air Force moves quickly to begin executing on recently
announced contracts, pays Archer nearly $1M for a mobile flight
simulator as the first installment of landmark contracts valued at
up to $142 Million
- U.S. Air Force and Archer will begin training Air Force
pilots and personnel on Archer's eVTOL aircraft capabilities
through flight simulation before advancing to piloted flight
testing with Archer’s Midnight aircraft
Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical
takeoff and landing (eVTOL) aircraft, announced today that the U.S.
Air Force has provided the company with its first installment of
nearly $1M on their recently announced contracts valued at up to
$142 million. The initial payment is expected to be the first of
many payments made to Archer by the U.S. Air Force and signals the
ongoing advancement of the partnership from signature to execution
as the AFWERX Agility Prime program works diligently with Archer to
assess the transformational potential of the vertical flight market
and eVTOL technologies for DoD purposes.
This press release features multimedia. View
the full release here:
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With its vertical takeoff and landing
capabilities, target payload of approximately 1,000lbs, proprietary
electric powertrain system, and low noise profile, Archer’s
Midnight aircraft represents a potential paradigm shift in military
aviation and operations. (Photo: Business Wire)
The initial payment is related to a contracted deliverable for a
mobile flight simulator which the U.S. Air Force and Archer will
use together to train pilots, assess flight controls and improve
U.S. Air Force personnel’s understanding of the operational
capabilities of Archer’s civilian use eVTOL aircraft platform and
potential future development of aircraft for Air Force use. The
simulator will also be deployed to key public and industry events
to increase public awareness and engagement with eVTOL
technology.
Several more of Archer’s deliverables are already underway with
the U.S. Air Force as part of the contracts, which include the
sharing of wind tunnel testing reports, project specific
certification plans (PSCP’s) and Subject Specific Certification
Plans (SSCP’s).
“Archer’s eVTOL technology can help maintain the United States’
position as a global leader in aviation. To see our historic
contract with the U.S. Air Force move from signature to execution
at a rapid pace is a reflection of the strong commitment that the
U.S. Department of Defense has made to securing our country's
future by investing in transformational technology,” said Adam
Goldstein, Archer’s CEO and founder.
With its vertical takeoff and landing capabilities, target
payload of approximately 1,000lbs, proprietary electric powertrain
system, and low noise profile, Archer’s Midnight aircraft
represents a potential paradigm shift in military aviation and
operations. These aircraft hold the promise of enhancing rapid
response, agility, and operational effectiveness across a wide
range of mission profiles, from personnel transport and logistics
support to rescue operations and more. Archer’s Midnight aircraft
are expected to provide a much safer and quieter alternative to
helicopters while being more cost-effective for the U.S. military
to transport, operate and maintain in the field.
The views expressed are those of the author and do not
necessarily reflect the official policy or position of the
Department of the Air Force, the Department of Defense, or the U.S.
government.
About Archer
Archer is designing and developing electric vertical takeoff and
landing aircraft for use in urban air mobility networks. Archer’s
mission is to unlock the skies, freeing everyone to reimagine how
they move and spend time. Archer's team is based in Santa Clara,
CA.
To learn more, visit www.archer.com.
About AFRL
The Air Force Research Laboratory is the primary scientific
research and development center for the Department of the Air
Force. AFRL plays an integral role in leading the discovery,
development, and integration of affordable warfighting technologies
for our air, space and cyberspace force. With a workforce of more
than 11,500 across nine technology areas and 40 other operations
across the globe, AFRL provides a diverse portfolio of science and
technology ranging from fundamental to advanced research and
technology development. For more information, visit
www.afresearchlab.com.
About AFWERX
The innovation arm of the DAF and a directorate within the Air
Force Research Laboratory brings cutting edge American ingenuity
from small businesses and start-ups to address the most pressing
challenges of the DAF. Employs approximately 325 military, civilian
and contractor personnel at six hubs and sites executing an annual
$1.4B budget. Since 2019, has executed 4,671 contracts worth more
than $2B to strengthen the U.S. defense industrial base and drive
faster technology transition to operational capability. For more
information, visit: www.afwerx.com.
Archer Forward Looking Statements
This press release contains forward looking statements regarding
Archer’s future business plans, including statements regarding the
timing of Archer’s development, commercialization, and
certification of its eVTOL aircraft, performance and development of
its aircraft, expected use cases, total potential value of its
relationship with the DoD and business opportunities. These
forward-looking statements are only predictions and may differ
materially from actual results due to a variety of factors. The
risks and uncertainties that could cause actual results to differ
from the results predicted are more fully detailed in Archer’s
filings with the Securities and Exchange Commission, including its
most recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q, available at www.sec.gov. In addition, please note that any
forward-looking statements contained herein are based on
assumptions that Archer believes to be reasonable as of the date of
this press release. Archer undertakes no obligation to update these
statements as a result of new information or future events.
Source: Archer
Text: ArcherIR
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version on businesswire.com: https://www.businesswire.com/news/home/20231004830384/en/
The Brand Amp - Archer@TheBrandAmp.com
Archer Aviation (NYSE:ACHR)
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