U.S. Air Force and Archer Enter Into Contracts Worth Up to $142 Million Representing Landmark Investment In eVTOL Technology by U.S. Military
Archer has been partnering with the Department of Defense (DoD) since 2021 on a series of projects through the Air Force’s AFWERX program with the goal of helping the AFWERX Agility Prime program assess the transformational potential of the vertical flight market and eVTOL technologies for DoD purposes
This new execution phase of the partnership includes the delivery of up to 6 of Archer’s Midnight aircraft, which the Air Force is targeting for use in personnel transport and logistics support, rescue operations and more
This expansion of Archer’s partnership with the DoD represents a significant investment in the future of the country and will help ensure the U.S. maintains its leadership position in aviation
The other military branches have the opportunity to leverage these contracts as a platform for additional projects, which could increase the total value of Archer’s DoD partnership
SANTA CLARA, Calif., July 31, 2023--(BUSINESS WIRE)--Archer Aviation Inc. (NYSE: ACHR), a leader in electric vertical takeoff and landing (eVTOL) aircraft, today announced that it has significantly expanded its partnership with the DoD by signing new contracts with the U.S. Air Force with a total value of up to $142 million. The new contracts signal the U.S. military's recognition of the transformative potential Archer’s innovative eVTOL aircraft brings to our country’s Armed Forces. This new execution phase of the partnership includes the delivery of up to six of Archer’s Midnight aircraft to the Air Force, the sharing of additional flight test data and certification related test reports, pilot training, and the development of maintenance and repair operations. As a result of these contracts, Archer will create and provide innovative capabilities that will strengthen the national defense of the United States of America.
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Archer's Midnight aircraft (Photo: Business Wire)
Archer has been partnering with the DoD since 2021 on a series of projects through the U.S. Air Force’s AFWERX program with the goal of helping the AFWERX Agility Prime program assess the transformational potential of the vertical flight market and eVTOL technologies for DoD purposes. Now, with Archer recently completing the manufacturing of its first Midnight aircraft, the DoD recognizes that with its vertical takeoff and landing capabilities, target payload of approximately 1,000lbs, proprietary electric powertrain system, and low noise profile, Archer’s 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.
"This historic agreement reflects the steadfast commitment by our Armed Forces to embrace the cutting-edge technology our eVTOL aircraft offer," said Adam Goldstein, Archer’s Founder and CEO. "It’s clear that the development and commercialization of eVTOL technology continues to remain a national priority. We look forward to working closely with the U.S. Department of Defense and the U.S. Air Force to integrate Midnight into their operational fleet with a focus on transport, logistics and rescue operations."
"It is our mission to ensure the U.S. continues to lead the world in developing and deploying emerging aerospace technology," said Colonel Tom Meagher, the lead for AFWERX Agility Prime programs. "eVTOL aircraft represent the cusp of the third revolution in aerospace, and these aircraft and their descendants will drive advances in capabilities and efficiency. Our contracts with Archer Aviation provide the U.S. Department of Defense and U.S. Air Force the opportunity to play a role in ensuring from the onset, and as the technology evolves, that we unlock the many benefits these aircraft have to offer the U.S. military."
"As a retired senior military leader who was responsible for U.S. forces, operations and activities throughout the continent of Africa, I’m thrilled with this agreement and its potential impact on the capabilities of our Armed Forces," said Retired 4-Star General and Archer Government Services Advisory Board Member, Steve Townsend. "The United States has always been at the forefront of technological innovation, and this partnership demonstrates our nation’s commitment to maintain that position. I commend the visionary leadership at DoD which led to this contract and Archer's dedication to pushing the boundaries of aviation technology."
This announcement comes on the heels of Archer announcing the formation of the company’s Government Services Advisory Board in May. The goal of the advisory board is to allow Archer to more fully engage with U.S. government and public safety agencies to explore opportunities to commercialize its eVTOL aircraft. The members of this advisory board are assisting and facilitating Archer’s direct engagement with appropriate government agencies and officials to advance both consideration and implementation of Archer’s eVTOL aircraft and related technologies. The board includes Retired 4-star General Steve Townsend, Retired 3-star Lieutenant General David A. Krumm, Retired 3-star Vice Admiral Ron Boxall, Retired 2-star General Clayton M. Hutmacher, Retired 2-star General Bill Gayler, and Retired Chief Warrant Officer 4 Michael J. Durant.
"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."
Forward-looking Statements
This press release contains forward looking statements regarding Archer’s future business plans and market opportunities, including statements regarding the performance and development of its aircraft, business opportunities, and potential value of its relationship with the DoD. 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, 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.
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 Air Force Research Laboratory (AFRL)
Sole organization leading the planning and execution of U.S. Air Force & U.S. Space Force science & technology programs. Orchestrates a world-wide government, industry & academia coalition in the discovery, development & delivery of a wide range of revolutionary technology. Provides leading-edge warfighting capabilities keeping air, space and cyberspace forces the world's best. Employs 10,800 military, civilian and contractor personnel at 17 research sites executing an annual $4B budget. For more information, visit: www.afresearchlab.com.
About AFWERX
The innovation arm of the Department of the Air Force (DAF) and a directorate within AFRL. Brings cutting-edge American ingenuity from small businesses and start-ups to address the most pressing challenges of the DAF. Employs 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.
Source: Archer
Text: ArcherIR
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