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Business Wire India
Skyworks Aeronautics Also Strengthens Executive Team with Recent New Hires and Adds to Electric Aircraft Partnership
The Company envisages going public via SPAC merger or traditional IPO
Skyworks Aeronautics Corp. today announced a $100 million investment commitment from GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group. Under the agreement, GEM will provide Skyworks Aeronautics with a Share Subscription Facility of up to $100 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.
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Skyworks Aeronautics VertiJet™ (Photo: Business Wire)
"Skyworks Aeronautics looks forward to working with GEM as we continue to work to bring our cutting-edge aircraft to market," stated Mr. Steve Stevanovich, Skyworks Aeronautics Co-Executive Director. “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.
Brig. General (Ret.) John Michel, Skyworks Aeronautics Co-Executive Director added, “With our highly experienced leadership and technical team and strong intellectual property portfolio, this commitment by GEM positions Skyworks Aeronautics to become the first company in the world to commercialize gyrocraft at scale. Be it providing affordable vertical lift alternatives to developing nations, progressive electric aircraft capabilities for air carriers, or game-changing vertical takeoff and landing platforms, Skyworks Aeronautics is now poised to be a transformative force in the rapidly evolving air mobility industry.”
This agreement comes on the heels of Skyworks Aeronautics recent announcement of its electric aircraft collaboration with Mobius.energy 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. Mobius.energy developed an advanced battery module architecture optimized for electric aircraft.
Amongst other senior and technical staff, Skyworks Aeronautics has also recently added Mr. Barry Jones as its Director of Aviation Operations and Chief Pilot. Mr. Jones, a retired British Army Air Corps Captain, is a highly decorated aviator and instructor in numerous aircraft. He has also served as the Chairman of the British Rotorcraft Association (the organization that governs Gyro flying in the UK), has successfully worked with aviation regulators across Europe on certification matters, and has spent the last decade working in the field of Gyro Research & Development, successfully developing and launching several significant gyroplane enhancing concepts. He is leading Skyworks Aeronautics certification efforts. The full senior leadership team can be viewed on the following link: https://www.skyworks-aero.com/#section-teamone
About Skyworks Aeronautics
Skyworks Aeronautics is the world leader in gyronautics, the study and design of sustained autorotative flight represented by the company's gyroplane technology. Skyworks Aeronautics has more than 40 patents with several more underway, all obtained in an effort to radically change not only the way gyroplanes are perceived, but also the way they are utilized. From mass personnel transportation, agriculture, defense, and border protection to literally changing the economies of developing nations, Skyworks Aeronautics' goal is to change the nature of vertical flight. For more information about the company, its products, and individual members of the Skyworks Aeronautics team, visit www.Skyworks-Aero.com
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with offices in Paris, New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005052/en/
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