Albers Aerospace signs $5m engineering and manufacturing goods and services term sheet

Albers Aerospace, the exclusive DoD license holder of the Vortex hybrid electrical Vertical Takeoff and Landing (eVTOL) aircraft designed by Hop Flyt, has entered into an agreement with HopFlyt to provide engineering and manufacturing services, valued at $5M. This investment aims to enhance the design, development and production of the military versions of the HopFlyt eVTOL design and increases the Albers Aerospace equity position in HopFlyt.

"Albers Aerospace believes in HopFlyt. We also believe in the military application of the technology in the Group 3 and Group 5 classifications. We view the increased investment in engineering and manufacturing services as good stewardship of our resources and the right thing to do for our Warfighter. We are aggressive about moving quickly to bring this revolutionary eVTOL aircraft to the Warfighter at an affordable price point," said John Albers, President and CEO of Albers Aerospace.

The Group 5 military version of the HopFlyt design, aptly named "Vortex", will be a hybrid eVTOL that is designed to be capable of flying at 200 knots, at a range of over 500nm with a useful load over 1000 lb.

The Group 3 military version will be capable of endurance in the 15-18 hour range with mission-relatable payloads to meet current and future Warfighter needs.

HopFlyt has achieved successful flight demonstrations over the last 15 months, up to the currently flying Group 3 prototype, while continuing to fine-tune the flight control laws. Currently, Albers Aerospace is commencing Hardware-in-the-Loop (HWIL) bench testing and applying digital engineering through their Model-Based Systems Engineering (MBSE) team to the design.

Albers Aerospace is a Service-Disabled Veteran Owned Small Business (SDVOSB) providing Model-Based Systems Engineering (MBSE) and other engineering services, manned and unmanned aviation services, AS9100D manufacturing, aviation repair services, and an Innovation Incubator platform that delivers value by commercializing key technologies for the Warfighter.

HopFlyt is a Service-Disabled Veteran Owned Small Business whose mission is to bring fast, safe and quiet eVTOL aircraft to the civilian and military markets.