Archer Aviation Secures $230M in Additional Capital to Solidify Commercialization Path
Slice of Manufacturing Team
08/25/2024
Key Highlights:
- Archer Aviation closes $220M of a $230M capital raise, with $10M pending shareholder approval from Stellantis.
- Combined with $360M on hand, Archer now boasts one of the strongest liquidity positions in the industry.
- Strategic partnership with Stellantis to potentially access an additional $400M in capital for manufacturing scale-up.
- Archer's high-volume manufacturing facility in Covington, GA, is set to open by year-end 2024.
Source (Business Wire)
Quotes
“ “As we advance towards commercialization, this renewed equity support from partners like United Airlines and Stellantis is a powerful endorsement that solidifies Archer’s position as one of the most well-capitalized in the industry.” ”
Adam Goldstein, CEO and Founder at Archer Aviation
Our Take:
Archer Aviation’s successful capital raise, coupled with strategic partnerships with industry giants like United Airlines and Stellantis, positions the company to lead the next phase of electric vertical take-off and landing (eVTOL) aircraft commercialization. The ability to access additional capital through Stellantis and the robust liquidity it has now secured will allow Archer to scale its manufacturing capabilities and bring its eVTOL aircraft, Midnight, to market. This strong financial backing, combined with key industrial milestones, sets Archer apart in a rapidly evolving sector, making it a company to watch closely as it approaches commercial operations.
