CybAero has delivered the first remotely piloted helicopter system to Aviation Industry Corporation of China (AVIC) after extensive flight trials and factory testing.
CybAero announced today that Factory testing and test flights were conducted in the latter half of June in collaboration with representatives of AVIC and CybAero's distributor ACC. The helicopter system was approved by the client (AVIC) and will be delivered to China in July.
The tests have been highly extensive, some of them were conducted using the client's own equipment, and they were conducted in various environments, including CybAero's new test center.
CybAero signed an eight-year framework agreement with AVIC in July 2014 for 70 helicopter systems at a value of approximately SEK 700–800 million (US $84- 96 million). A demonstration system was also ordered in addition to the 70 systems, and it is now approved for delivery. An export license was received from the Swedish Agency for Non-Proliferation and Export Controls (ISP) on June 26.
“Today we completed an intensive test period with a satisfied client," Mikael Hult, CEO CybAero said in a press release.
“We are extremely positive about the results we have achieved during this week's tests. The system CybAero is delivering meets our requirements and will be commissioned as early as August. The helicopter will be used in demonstrations for potential clients and other stakeholders," says Bing Leng, Marketing and Sales Director for ACC Group AB and Richard Su, General Manager for China Aviation Industry Supply and Marketing Corporation.
CybAero received a call-off for the first five systems under the framework agreement in March 2015.
The systems are in production and will be delivered to ACC in fall 2015.
“We have now initiated the delivery phase of our largest order ever, which feels extremely exciting. CybAero is now taking the step from being a development company to becoming a production company," Mikael Hult concludes.
CybAero will be switching to a new executive venue for its shares by moving to Nasdaq Stockholm from Nasdaq First North in 2016, the company said in a statement on Friday after a recent board meeting in this regard. CybAero has experienced strong growth in recent years and the board considers the move to Nasdaq Stockholm a natural step in the companys development, the company said
CybAero announced today that it has been granted a temporary export license by ISP (Inspectorate of Strategic Products), a Swedish government agency, for demonstration flights in China. These demonstration flights will be jointly carried out with the Aviation Industry Corporation of China (AVIC) in April and May for selected potential clients
CybAero announced today that it has commenced factory testing for its three Unmanned Helicopter systems to be delivered to China Customs in January 2014. The systems are to be stationed on three new vessels China Customs will be commissioning in 2015
CybAero announced today that it has been selected by the Swedish Defense Materiel Administration (FMV) to conduct test and demonstration flights from Sweden's world-leading Visby class corvette in third quarter of 2015. Sweden-based CybAero was chosen ahead of other international competitors
CybAero and Indra entered into a co-development agreement in 2009 that included customization of CybAero's helicopter platform APID 60 to maritime end-uses, tailor-made for Indra's needs. The jointly developed system is being marketed by Indra under the Pelicano product name
CybAero has ended a test campaign with their ship based system APID One in the last week of April. The clients of the campaign were FMV (the Swedish Defence Procurement Agency) in collaboration with the Swedish Navy
Subversive Capital has acquired the remainder of AeroVironment's CybAero holding. "We are delighted that Subversive Capital decided to become a major shareholder of CybAero and we look forward to working closely with them," said CybAero CEO Mikael Hult in a statement Thrusday
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