Monday, December 3, 2012

AeroVironment Invests In Swedish Firm

Monrovia, California-based Aerovironment, the developer of unmanned aircraft systems, said this morning that it is making an investment in a Swedish developer of vertical takeoff and landing (VTOL) systems. Aerovironment said it will invest up to $3M in CybAero AB, which develops unmanned aircraft systems with vertical takeoff and landing capability. The move comes as part of an effort to provide VTOL unmanned aircraft systems to Aerovironment's customers. Aerovironment said it gained the right to develop and distribute VTOL aircraft based on CybAero's technology, to customers in the United States and to government customers in NATO and other countries. More information »