First North-listed CybAero, which develops and markets unmanned helicopters, has
performed demo flights on location for its major Chinese customer AVIC, which
signed a framework agreement with CybAero this summer with an order value of SEK
700-800 million. The demo flights were performed in July and August in China and
presented the aircraft’s ability to inspect power lines and track moving
objects.
“This is a milestone for us in the work we’ve put into the AVIC order, and yet
another step in our growth and expansion,” says Mikael Hult, CEO of CybAero. The
now-complete demo flights were performed at various times in July and August at
two different locations outside Beijing. AVIC, one of the largest companies in
the world and whose operations include developing and producing aircraft,
invited numerous high-ranking individuals from government authorities, as well
as from the energy sector and business community. CybAero had a demo team on
-site, as well as representatives from its management and board of directors.
The demo flights demonstrated features including the ability to inspect power
lines and track moving objects. Video info was shown in real time from the
aircraft’s camera and the system’s ground station was displayed on large
monitors.
“The weather conditions were challenging, with 35-degree Celsius heat and strong
winds. But the helicopter functioned just as it was supposed to, so we were able
to show that it could fly in tough conditions,” says Mikael Hult. Hult is
extremely pleased with these demo flights, which highlighted the aircraft’s
functionality and maneuvering capabilities. “Being on-site allowed us to discuss
our customer’s requirements in greater detail and AVIC has initiated talks and
negotiations with potential customers,” says Mikael Hult.
Major attention from China
In early July, CybAero won a large framework agreement with AVIC, which has
committed to purchase at least 20 helicopter systems in the first three years,
followed by at least 50 systems in the next five years. This translates to an
order value of SEK 700-800 million, depending on the final design of the
systems. Work on the order has begun. CybAero received an end user certificate
from AVIC on September 5 and has initiated the application process for an export
license from ISP (the Swedish Agency for Non-Proliferation and Export Controls).
AVIC plans to focus on the civilian and commercial markets, such as agriculture,
coast guards, the energy sector, mining industry, forest products industry and
fire & rescue services. News of the order made a huge splash both in Sweden and
abroad, with national Chinese TV channel CCTV7 doing a 3-minute feature on
CybAero's product APID 60 in late July.
In the fall, CybAero will continue performing demo flights around the world.
“Intensifying our on-location demo flights for our customers and showing them
how our systems function in the environments in which they will later be
operating is a crucial step for us,” says Mikael Hult.
Attached you will find pictures of APID 60 and here are a link to CybAero’s
video from the demo flights, http://youtu.be/CmqtS7jNF1M and the feature from
Chinese TV channel CCTV7, http://youtu.be/nsQy7ik2Gw0.
For more information:
Mikael Hult, CEO, CybAero AB, tel. 46 (0)70 5642545 e-mail:
mikael.hult@cybaero.se
Read online: www.cybaero.se Videos: www.youtube.com/cybaero
About CybAero
CybAero AB develops, manufactures and markets autonomous unmanned helicopters
(known as VTOL UAV) and associated sensor systems for both the defence and civil
sectors. CybAero was established in 2003, but the foundations of the business
were laid back in 1992 through a research partnership between Linköping
University and the Swedish Defence Research Agency (FOI). CybAero has now
established itself as a leading global player within the VTOL-UAV sector. The
company’s user-friendly, robust and cost-effective APID product has attracted
global attention. CybAero’s head office is situated at Mjärdevi Science Park in
Linköping. The company has around 40 employees and has been listed on the NASDAQ
OMX First North exchange since 2007. Remium Nordic AB ( 46 (0)8 454 32 00) is
the Certified Adviser.
