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Mayman Aerospace Funding UAE SDF

Mayman Aerospace investment

Air Speeder Utility Car

UAE’s Strategic Growth Fund Invests $3M in Mayman Aerospace

by DRONELIFE Employees Author Ian M. Crosby

Tawazun’s funding arm, Strategic Growth Fund, is investing $3 million in Mayman Aerospace via 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 gives 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 power density of jet fuels like sustainable aviation gas. The funding shall be allotted to advance the Speeder flight take a look at program and additional the car’s certification course of.

Mayman Aerospace investment“We acknowledge that Mayman Aerospace has demonstrated distinctive competence on this extremely advanced engineering. SDF believes Speeder will ship invaluable, 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 present propulsion management system, which might be tailored to future applied sciences, mixed with its versatile working capabilities influenced our choice to take a position.”

“As a part of our strategic mandate, we stay up for exploring and creating synergies via 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 Automobiles,” continued Al Mazrouei. “We’re additionally assessing a partnership to arrange a Speeder manufacturing heart in Abu Dhabi, together with flight take a look at, 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 expertise. Speeder’s potential to help a number of army functions is unparalleled and with the brand new funding we are able to transition our high-speed VTOL plane from flight take a look at to sturdy commercialization,” mentioned Mayman Aerospace founder and CEO David Mayman. “The probabilities are limitless, and we’re delighted that SDF understands the unbelievable potential. We stay up for working with them to advance the brand new period of aviation for the army, civil and business sectors.”

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Ian attended Dominican College of California, the place he obtained a BA in English in 2019. With a lifelong ardour for writing and storytelling and a eager curiosity in expertise, he’s now contributing to DroneLife as a employees author.




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