Today Archer Aviation Inc. raised an additional $850M following the White House’s announcement last week of an Executive Order by President Trump to implement an eVTOL Integration Pilot Program in the United States.
This program is focused on accelerating the deployment of eVTOL aircraft in the U.S.
Archer intends to closely coordinate with the White House, Department of Transportation and the Federal Aviation Administration on how this can integrate into Archer’s plans to ramp its operations in the U.S. ahead of the LA 28 Olympic Games at which Archer will serve as the Official Air Taxi Provider of the Olympic Games and Team USA.
Archer believes cross-industry collaboration will be the key to the success of the eVTOL Integration Pilot Program and the U.S. achieving its goal of “dominance” within this new category of aircraft.
Next week, Archer will be at the Paris Air Show showcasing its Midnight aircraft and hosting delegations from more than 20 countries, including leadership from partner organizations in the UAE, Archer’s first target “Launch Edition” market.
Archer CEO and founder Adam Goldstein is set to meet with the United States Secretary of Transportation, Sean P. Duffy, and acting FAA administrator, Chris Rocheleau, while at the show.
Adam Goldstein, CEO and founder of Archer, said: “This Executive Order is a seminal moment for Archer and the eVTOL industry.
“We now have the strongest balance sheet in the sector and the resources we need to execute both here in the U.S. and abroad. Archer’s future couldn’t be any brighter.”
This new capital bolsters Archer’s already strong balance sheet and cements the Company’s position of leading the industry with a pro forma liquidity position of approximately $2B.
With this fortress balance sheet, Archer is strategically positioned to execute across its engineering, certification and commercialization efforts, both in the United States and abroad.