WEBVTT
X-TIMESTAMP-MAP=LOCAL:00:00:00.000,MPEGTS:0
00:00.039 –> 00:05.949
Emerging American defense contractor Andero and
US based EV to start up Archer Aviation.
00:06.000 –> 00:10.789
This morning announced an exclusive new
partnership to jointly develop a hybrid V to
00:10.810 –> 00:16.340
aircraft for critical defense applications.
Targeting a potential program of record from
00:16.350 –> 00:19.520
the dod.
Those are programs that Congress not only
00:19.530 –> 00:24.370
intends to fund but has appropriated funding
for them in the future years.
00:24.379 –> 00:27.309
Defense program.
The partners hope to bring together Andrei’s
00:27.370 –> 00:33.049
expertise in A I and systems integration and
Archer’s ability to rapidly develop advanced vo
00:33.069 –> 00:37.776
aircraft using existing commercial parts and
supply chains in a combined effort to
00:37.785 –> 00:42.666
accelerate time to market at a fraction of the
cost of more traditional alternatives.
00:42.745 –> 00:46.015
As part of the announcement, Archer launched a
new program,
00:46.026 –> 00:52.686
Archer Defense which will be supported in part
by some $430 million in additional equity
00:52.695 –> 00:55.756
capital.
The company plans to also divvy up for other
00:55.765 –> 00:57.625
quote, general corporate purposes.
00:57.972 –> 01:02.692
The funds come from Stans United and new
institutional investors including Wellington
01:02.701 –> 01:08.582
Management in Abu Dhabi Investment Holding
Company 2.0 an IHC subsidiary,
01:08.592 –> 01:14.692
Shane Arnott SVP of Engineering at Andero says,
quote, rapid innovation and scalable production
01:14.702 –> 01:20.389
are critical for maintaining technological
superiority and role and Archer share a common
01:20.400 –> 01:24.980
vision for advancing capabilities that meet
urgent national security needs.
01:24.989 –> 01:31.029
The new military aircraft may be based at least
in part on Archer’s midnight EV toll which
01:31.040 –> 01:35.769
recently completed a transition flight while
flying at more than 100 MPH.
01:35.779 –> 01:38.919
In June.
The company believes the craft weighing about
01:38.930 –> 01:44.080
6500 pounds is one of the largest EV tool
aircraft to complete a transition.
01:44.089 –> 01:47.529
Now, a transition flight occurs when the
aircraft takes off vertically,
01:47.540 –> 01:51.629
like a helicopter accelerates forward and
transitions from thrust,
01:51.639 –> 01:57.919
born to wing borne flight like an airplane with
tilt propellers forward before decelerating and
01:57.930 –> 02:02.180
landing vertically.
Adam Goldstein, founder and CEO of Archer says
02:02.190 –> 02:06.760
the partnership and influx of capital will
accelerate the development and deployment of
02:06.769 –> 02:12.059
advanced aerospace technologies at scale.
Archer Defense will be led by Joseph Pantalone
02:12.070 –> 02:17.190
who recently joined the company and has nearly
30 years of experience at Lockheed Martin and
02:17.279 –> 02:22.179
Sikorski, Ian reached out to Archer and Andero
regarding further information on development,
02:22.190 –> 02:26.610
manufacturing and the aircraft, but the
companies have not yet responded to our request
02:26.619 –> 02:28.839
for comments.
I’m David Manti.
02:28.850 –> 02:30.320
This is manufacturing now.