ASG is a global strategic advisory firm headquartered in Washington, D.C., with offices and affiliates based in more than two dozen countries around the world.
"This partnership will help GAC accelerate its go-to-market strategy and our understanding of the evolving regulatory environment for the commercial drone market," said David Groen, GAC Chairman and CEO. "We believe ASG's reputation and unparalleled skill in commercial diplomacy coupled with GAC's transformative VTOL technology will soon have GAC gyroplanes flying around the world."
About Groen Aeronautics Corporation
Groen Aeronautics Corporation is recognized as the world's leading authority on sustained autorotative flight with approximately 40 patents issued and several more underway. Powered by a Rolls-Royce gas turbine engine, Groen developed the world's first commercially viable modern gyroplane to utilize a jet engine – the Hawk 4 Gyroplane. The Hawk 4 was used extensively for security aerial patrol missions for the SLC Winter Olympics Games, flying 8 weeks without downtime for maintenance: the only VTOL aircraft used for security for those games that remained mission-ready 24/7.
DARPA, an arm of the United States Department of Defense, awarded a multi-million-dollar contract to Groen to form and lead a team to design a proof of concept high-speed, long-range, vertical takeoff and landing (VTOL) aircraft designed for use in combat Search and Rescue roles. This modern rotorcraft, named by DARPA as the "Heliplane", was designed to exploit the Company's sustained autorotative flight scientific knowledge; offering the VTOL capability of a helicopter, the fast forward flight of an airplane, and the safety, simplicity, and reliability of a GAC Gyroplane. Groen successfully completed Phase I of the Heliplane contract meeting all performance requirements: VTOL, fly 1,000 nautical miles at 400 mph carrying 1,000 lbs of payload. The Heliplane could be the next generation rotor wing aircraft, meeting economy, reliability, safety and performance goals for the U.S. military not considered achievable by any other type of VTOL aircraft.
Further information about the Company, its products, and individual members of the GAC Team is available on the Company's web site at: www.GroenAeronautics.com.
Safe Harbor Statement/Forward-Looking Information Disclaimer
Certain statements in the news release by Groen Aeronautics Corporation are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is subject to risk and uncertainty. Certain statements in this Press Release may contain forward-looking information that involves risk and uncertainty, including but not limited to, the Company's ability to fund ongoing operations and to complete its obligations under its ongoing commitments. Future results and trends depend on a variety of factors, including the Company's successful execution of internal performance plans and agreements; product development and performance; risks associated with regulatory certifications of the Company's commercial aircraft by U.S. and foreign governments; government bid and funding availability uncertainty; other regulatory uncertainties; performance issues with key suppliers and subcontractors; governmental export and import policies; and the ability to adequately finance operations including meeting its debt obligations, fund manufacturing and delivery of products.
Media Contact
Al Waddill
+1 801-973-0177
***@groenaeronautics.com
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