Archer Aviation

Archer is the startup from Palo Alto (USA) based by Adam Goldstein and Brett Adkok in 2008 develops small electric airplanes with vertical take off and landing (eVTOL).

History

2021: Attraction of $20 million investments of United Airlines and contract for $1 billion

At the beginning of February, 2021 the startup of Archer which is engaged in development of air taxi attracted $20 million investments from United Airlines (UAL). Archer is going to become the public company as a result of merge to SPEC Atlas Crest Investment. Archer will be registered at the New York Stock Exchange (NYSE) under a ticker of ACHR.

According to TechCrunch, United Airlines placed the order for 200 Archer airplanes which will cost it $1 billion with a possibility of acquisition of 100 more units for $500 million.

United Airlines invests in the developer of the electric Archer airplanes

The startup is going to show the first sample of the electric airplane with vertical take off and landing in 2021. The airplane will be equipped with the battery of own development Archer and will be able to bring four passengers to distance to 96 km with a speed up to 240 km/h. United Airlines is going to use air Archer taxi for delivery of passengers in the airports of the busy cities and back.

The CEO of airline Scott Kirby noted that cooperation with Archer shows readiness of United Airlines to begin use of more eco-friendly and energy efficient transport. By calculations of the company, flight from Hollywood in the airport of Los Angeles by the Archer eVTOL-airplane (about 20 km) will allow to reduce emissions of a carbon dioxide gas by 50%.

Archer is going to begin deliveries of airplanes in 2024, however the startup needs to receive the certificate on the admission of the vehicle to flights from the Federal Aviation Administration of the USA (FAA). It is expected that merge will generate $1.1 billion a gross revenue, and assessment of Archer will grow to $3.8 billion^[1]

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