Skyworks Aeronautics Hawk 5 Gyroplane (Photo: Skyworks Aeronautics Corp 2021)
Skyworks Aeronautics Corp. today announced that GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group, has increased its investment commitment to $200 million. Under the agreement, GEM will now provide Skyworks Aeronautics with a Share Subscription Facility of up to $200 million for a 36-month term following a public listing of the Skyworks Aeronautics common stock. Skyworks Aeronautics will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation. Concurrent with a public listing of Skyworks Aeronautics shares, Skyworks Aeronautics will issue warrants to GEM to purchase up to 3% of the common stock of the company.
"Skyworks Aeronautics looks forward to continuing to work with GEM as we continue to work to bring our cutting-edge aircraft to market," stated Mr. Steve Stevanovich, Skyworks Aeronautics Co-Founder and Executive Chairman. “We think that GEM is an excellent partner that believes in our vision and understands the promise and potential of our technology.”
Skyworks Aeronautics will use the funds to move forward with the commercialization of its cutting-edge gyroplane aircraft, including the eGyro™ electric air taxi geared towards urban air mobility and the 400 mph VertiJet™ VTOL aircraft that competes directly with helicopters, but at a much higher speed, longer range and lower operating cost.
“We are very excited about our diverse portfolio of gyro capabilities which we believe position us exceptionally well to provide safe, affordable and extremely capable vertical lift and progressive electric alternatives to nations across the globe.” Stated Brig. General (Ret.) John Michel, Skyworks Aeronautics Co-Founder and CEO.
Besides adding to its aircraft certification team and starting its certification efforts last year, including adding Mr. Jeff Bartlett, who has held the roles of Head of the Design Organization and Chief of the Office of Airworthiness for a number of European and UK Design Organization Approval holders, Skyworks Aeronautics has also assembled a wide array of collaboration partners to produce the state-of-the-art electric gyroplane, the eGyro™. The Skyworks Aeronautics eGyro™ has been designed to leverage the fundamental safety and exceptional performance advantages of a gyroplane to create an eVTOL system that provides an unparalleled practical, affordable, and scalable approach to intra and inter-city passenger and air cargo transport. With a proprietary autorotating main rotor design delivering exceptional performance and unprecedented safety, the eGyro™ overcomes a key limitation of many of today's existing eVTOL system concepts.
Skyworks Aeronautics has also recently added Mr. Stephen Judd as Director of Global Business Development. Mr. Judd has a successful track record of delivering high profile sales in the global aerospace, defense and marine industries. After completing an innovative project for British Airways' RB211 engine builds, Stephen successfully led multi-national projects when delivering critical cooling systems to a key missile defense program. He then took on a project management role at Stirling Dynamics where he lead the business development and delivery of advanced active flight control systems to prestigious programs with Boeing Helicopters, NASA, Gulfstream, Embraer, DLR and many more. World-leading products led to world firsts in fly-by-wire helicopter applications in both Europe and the USA. Winning the key contract to supply active controls to the Lockheed Martin F-35 training program has provided the business with an enduring revenue stream. Stephen was soon leading the company and developing expert teams in advanced engineering specialties such as submarine autopilots, aeroelastics and landing gear design. Airbus, Bombardier, BAE SYSTEMS and many other primes became reliant upon these teams. Stephen led the expansion into the USA and Japan, with operations in Seattle, Orlando and Nagoya. The full senior leadership team can be viewed on the following link: https://www.skyworks-aero.com/#section-teamone
|Contact details from our directory:|
|Related aircraft programs:|
|Skyworks Hawk 5|
Weekly news by email:
See the latest Bulletin, and sign up free‑of‑charge for future editions.
Caynova claims first for seat heating and cooling system
Airbus hands over first A321neo assembled in China
Hartzell propeller drives fuel-cell Dash 8