UAE’s Strategic Improvement Fund Invests $3M in Mayman Aerospace
by DRONELIFE Employees Author Ian M. Crosby
Tawazun’s funding arm, Strategic Improvement Fund, is investing $3 million in Mayman Aerospace by way of its enterprise capital program.
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A JetPack Aviation Corp. model, Mayman Aerospace is the US-based producer of the Speeder Air Utility Car (AUV). As a part of its funding technique in dual-use applied sciences relevant to protection and civilian sectors, SDF acknowledges Speeder’s standing as a novel new class of high-performance VTOL plane.
Speeder affords a groundbreaking mixture of portability, velocity, payload, and vary efficiency owing to the vectored thrust of its gimbaled turbine engines. The plane’s excessive efficiency is enabled by the vitality density of jet fuels like sustainable aviation gasoline. The funding might be allotted to advance the Speeder flight check program and additional the automobile’s certification course of.
“We acknowledge that Mayman Aerospace has demonstrated distinctive competence on this extremely advanced engineering. SDF believes Speeder will ship beneficial, sensible functions for protection forces within the very close to future,” mentioned Mohamed Musabah Al Mazrouei, Director of Investments and Portfolio Administration. “The optimization of Speeder’s current propulsion management system, which may be tailored to future applied sciences, mixed with its versatile working capabilities influenced our choice to speculate.”
“As a part of our strategic mandate, we sit up for exploring and growing synergies by way of our portfolio of associated investments and partnership in aerospace, protection and autonomous sectors that may in flip doubtlessly help the event of a household of primarily defense-focussed Speeder Air Utility Autos,” continued Al Mazrouei. “We’re additionally assessing a partnership to arrange a Speeder manufacturing middle in Abu Dhabi, together with flight check, manufacturing, gross sales, and distribution all through the MENA area.”
“This funding is testomony to SDF’s belief in Mayman Aerospace and perception in our distinctive know-how. Speeder’s potential to help a number of navy functions is unparalleled and with the brand new funding we will transition our high-speed VTOL plane from flight check to sturdy commercialization,” mentioned Mayman Aerospace founder and CEO David Mayman. “The probabilities are limitless, and we’re delighted that SDF understands the unimaginable potential. We sit up for working with them to advance the brand new period of aviation for the navy, civil and business sectors.”
Ian attended Dominican College of California, the place he acquired a BA in English in 2019. With a lifelong ardour for writing and storytelling and a eager curiosity in know-how, he’s now contributing to DroneLife as a employees author.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, an expert drone providers market, and a fascinated observer of the rising drone business and the regulatory setting for drones. Miriam has penned over 3,000 articles centered on the business drone area and is a global speaker and acknowledged determine within the business. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising for brand spanking new applied sciences.
For drone business consulting or writing, E-mail Miriam.
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