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.
"We also remain committed to our partnership with AeroVironment," he said.
Subversive Capital's General Partner, Michael Auerbach, said, "CybAero's product line APID ONE is a game-changing remote-piloted aircraft that fills a vacuum for commercially viable systems. We see this technology as a major disruptor to industries such as agriculture, pollution control, and maritime security monitoring, as well as a delivery system for humanitarian aid."
Subversive Capital invests primarily in industries that require navigating complex political environments and regulatory regimes.
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
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
Swedish UAV manufacturer `CybAero has filed for bankruptcy following its failure to sell 20 civilian drones to China which was expected boost the funding of the financially beleaguered firm. The filings were made with the Nasdaqs First North Sweden stock exchange on June 19 and show that the company had experienced significant declines in revenues, halting all trading in the companys shares on June 15 due to CybAeros uncertain financial position
AeroVironment has announced the formation of a joint venture to develop solar-powered high-altitude long-endurance, or HALE, UAS for commercial operations. This category of UAS is also referred to as high-altitude pseudo-satellites, or HAPS
CybAero has performed demonstrations flights for the Belgian Navy. Two separate flights were conducted during the demonstration to show the systems operational performance in both daylight and darkness, the company said in a statement Monday
Aerovironments Puma unmanned aerial vehicles (UAVs) has been designated Puma 3 AE after the company has undertaken upgrades such as updating the datalink, new avionics and integrating new infrared (IR) sensor. The company has also upgraded Raven UAV with the same features
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
AeroVironment has been awarded $18 million contract to supply initial RQ-11B Raven unmanned aircraft systems (UAS) to seven allied nations. The contract also includes spare parts and contractor logistics services
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