HOUSTON, Aug. 26, 2021 /PRNewswire/ --
- Electra.aero to develop hybrid-electric aircraft that
takes off in 300x100 ft and carries 5-7 passengers or
1,800 pounds of cargo up to 500 nautical miles in all-weather
conditions
- Bristow will lend its 70+ years of transport expertise to
Electra's development of the eSTOL
aircraft's operations, design, and safety features to meet customer
as well as FAA, EASA and Transport Canada certification
requirements
- Companies will explore new markets for Bristow operations
using the Electra eSTOL aircraft,
with focus on middle mile logistics for large retail distribution
chains and other specialized customers
- Electra expects to deliver
50 low-emission aircraft to Bristow to provide services in these
new markets
Bristow Group Inc. (NYSE: VTOL), the world's leading global
provider of vertical flight solutions to government and civil
organizations, and Electra.aero, Inc. a pioneering developer of
clean and efficient aviation technology solutions, today announced
they have signed a Memorandum of Understanding (MOU) to pursue a
Joint Development Agreement (JDA) and Purchase Agreement under
which the two firms will cooperate on the technical development and
certification, as well as marketing and future operations of
Electra's hybrid-electric short
take-off and landing (eSTOL) aircraft, with an expected volume of
50 aircraft.
Future electric air transport service to focus on middle mile
logistics for retail distribution
The two companies will collaborate on developing a full range of
safety and operational features to ensure the new eSTOL aircraft's
final configuration, specifications and design features meet
customer as well as FAA, EASA and Transport Canada certification
and timeline requirements. The companies will also explore new
markets for Bristow operations utilizing the Electra eSTOL aircraft, with a focus on
"middle mile" logistics for retail distribution, expanding
Bristow's service to their existing customer base and specialized
passenger services. Today, Bristow operates a fleet of
approximately 240 of the industry's most modern aircraft for air
mobility transport uses including oil and gas customers, search and
rescue (SAR), and government and civil organizations, with annual
revenues of over $1.2 billion.
"Just as Bristow pioneered the vertical transportation market
some 70+ years ago, this MOU sets the stage for early collaboration
and development between Bristow and Electra for a new class of aircraft that will
allow us to take advantage of the unique capabilities of electric
and hybrid power generation technologies to substantially lower
carbon emissions and operating costs. This will allow us to expand
our expertise providing sustainable, innovative and efficient
vertical lift and aerial transport solutions into new potential end
markets like moving time-sensitive cargo and passengers
regionally," said Bristow President
and Chief Executive Officer Chris
Bradshaw. "As today's global leader in vertical lift,
Bristow can leverage our operational expertise to help Electra design and build the next generation
of aircraft that fully utilizes the eSTOL concept in existing and
new end markets."
"Bristow's deep experience operating aircraft across a variety
of missions is an excellent complement to the Electra team's extensive experience in
designing and building innovative aircraft. This collaboration will
lead to a more rigorous aircraft capable of addressing operators'
needs across a variety of use cases and will help Electra develop and certify an eSTOL aircraft
in as short a period of time as possible," said John S. Langford, Founder and Chief Executive
Officer of Electra.aero. "As our principal launch operational
customer, Bristow will benefit from early access to Electra's aircraft, which will deliver more
than twice the payload, fly longer ranges, and have substantially
lower operating costs than vertical take-off alternatives — with
much less certification risk. We expect to deliver 50 or more
aircraft to Bristow to provide low-emission transport services in
exciting new markets."
Electra's eSTOL aircraft can
operate from runways as small as 300x100 feet using a proprietary
proven blown lift technology where eight engines provide additional
wing lift, and hybrid-electric power that provides internal
recharging capabilities for aircraft batteries, eliminating the
need for new ground infrastructure. The quieter and more
environmentally friendly aircraft is currently being designed to
transport up to 1,800 pounds of cargo or move 5 to 7 passengers
about 400 to 500 miles. Electra's
aircraft can operate in a variety of environments ranging from busy
urban areas to remote landing strips, and fly missions ranging from
on-demand intracity flights to medical missions, cargo
transportation, scheduled passenger service, and more. With greater
payload capabilities, longer range, and lower operating costs than
competitors, Electra's eSTOL
represents the next generation of novel aircraft. For more
information, visit www.electra.aero.
Forward Looking Statements Disclosure
This press release contains "forward-looking statements."
Forward-looking statements represent Bristow Group Inc.'s (the
"Company") current expectations or forecasts of future events.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe," "project," or
"continue," or other similar words. These statements are made under
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, reflect management's current views with respect
to future events and therefore are subject to significant risks and
uncertainties, both known and unknown. Without limiting the
generality of the foregoing, such forward-looking statements
include statements regarding the capabilities, development,
certification, marketing, and future operations of Electra's hybrid-electric aircraft, the
Company's purchase of aircraft from Electra, and the anticipated benefits of the
collaboration between the Company and Electra. The Company's actual results may vary
materially from those anticipated in forward-looking
statements.
The Company disclaims any obligation or undertaking to provide
any updates or revisions to any forward-looking statement to
reflect any change in the Company's expectations or any change in
events, conditions or circumstances on which the forward-looking
statement is based that occur after the date hereof. You should not
place undue reliance on our forward-looking statements because the
matters they describe are subject to known and unknown risks,
uncertainties and other unpredictable factors, many of which are
beyond our control. Our forward-looking statements are based on the
information currently available to us and speak only as of the date
hereof. New risks and uncertainties arise from time to time, and it
is impossible for us to predict these matters or how they may
affect us. We have included important factors in the section
entitled "Risk Factors" in the Company's Annual Report on Form 10-K
for the fiscal year ended March 31,
2021 (the "Annual Report") which we believe over time, could
cause our actual results, performance or achievements to differ
from the anticipated results, performance or achievements that are
expressed or implied by our forward-looking statements. You should
consider all risks and uncertainties disclosed in the Annual Report
and in our filings with the United States Securities and Exchange
Commission (the "SEC"), all of which are accessible on the SEC's
website at www.sec.gov.
About Bristow Group
Bristow Group Inc. is the leading global provider of innovative
and sustainable vertical flight solutions. Bristow primarily
provides aviation services to a broad base of major integrated,
national and independent offshore energy companies. Bristow
provides commercial search and rescue (SAR) services in several
countries and public sector SAR services in the United Kingdom (U.K.) on behalf of the
Maritime & Coastguard Agency (MCA). Additionally, the Company
offers ad hoc helicopter and fixed wing transportation services.
Bristow currently has customers in Australia, Brazil, Canada, Chile, Colombia, Guyana, India, Mexico, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K. and the U.S. To learn more,
visit our website at www.bristowgroup.com.
About Electra.aero
Electra.aero, Inc. is a next-gen
aerospace company leading the way in sustainable urban and regional
mobility. The company is building environmentally friendly
electric, ultra-short take-off and landing (eSTOL) airplanes that
fly people and cargo quieter, further, and more affordably.
Electra's eSTOL aircraft use a
proprietary hybrid-electric propulsion system, where batteries and
a small turbine-powered generator work together to drive electric
motors distributed across the wing, giving the aircraft its unique
ability to operate out of small spaces as short as 300x100 feet.
The aircraft is currently being designed to transport up to 1800
lbs of cargo or move 5 to7 passengers about 500 miles, operable in
all weather conditions. Batteries are recharged mid-flight,
eliminating the need for new ground charging infrastructure and
enabling quick flight turnaround in diverse environments. A steep
take-off and landing profile enables access in tight urban spaces
and landing directly at a destination, leading to the elimination
of hubs. Electra is collaborating
with air transport and ground infrastructure operators to achieve a
turnkey solution for diverse markets. Electra's team includes some of the most
respected and successful entrepreneurs and engineers in novel
aircraft design, and its technology development is supported by
NASA and the DOD. To learn more, visit our website at
www.electra.aero.
Investors
Bristow Group Inc.
Jennifer Whalen
+1 713.369.4692
InvestorRelations@bristowgroup.com
Media
Bristow Group Inc.
Adam Morgan
+1 832.783.7927
Adam.morgan@bristowgroup.com
Investors
Electra.aero, Inc.
Jilinda Crowley
+1 571.438.1779
investors@electra.aero
Media
Electra.aero, Inc.
Barbara Zadina
+1.202.997.9632
Zadina.barbara@electra.aero
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SOURCE Electra Aero