Archer Enters Into Agreement With FACC Covering Supply of Key Fuselage and Wing Elements for Archer’s Production Aircraft

Rhea-AI Summary

Archer Aviation Inc. (NYSE: ACHR) has partnered with FACC to fabricate and supply essential fuselage and wing elements for its eVTOL aircraft, advancing Archer's goal of Type Certification in 2024. FACC's expertise in lightweight construction and high-quality aerostructures is pivotal for achieving target range and payload capabilities. Archer aims to enhance sustainable air mobility, moving people efficiently in urban settings. The collaboration with FACC aligns with Archer's vision of innovation and safety in Urban Air Mobility.

Positive

• Partnership with FACC to supply key components for eVTOL aircraft.
• Expertise of FACC in lightweight construction supports Archer's performance goals.
• Strategic move towards achieving Type Certification in 2024.

Negative

• None.

• FACC is a global leader in the design, development and manufacturing of aircraft components and systems and provides turnkey products to all civil aerospace and engine OEMs
• The supply agreement is another key step on Archer’s continued progression towards its goal of achieving Type Certification of its production aircraft in 2024

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Archer Aviation Inc. (“Archer”) (NYSE: ACHR) and FACC, a global leader in the development and manufacturing of aircraft components and systems, today announced they have entered into an agreement for FACC to fabricate and supply key fuselage and wing elements of Archer’s production eVTOL aircraft that is currently under development.

The high-tech expertise of aerospace specialist FACC in the field of lightweight construction, as well as its many years of experience in the production of high-quality aerostructures were decisive factors in Archer choosing to work with FACC and will help ensure that Archer’s production aircraft can achieve its target range and payload capabilities.

“Archer believes that working with established leaders in the supply of aerospace components will help drive our long-term success and our choice to work with FACC certainly reflects that,” said Adam Goldstein, CEO of Archer. “FACC’s proven track record in fabricating advanced composite structures for the aerospace industry, coupled with their focus on innovation and safety, makes them the perfect supplier for some of the most significant elements of our aircraft structure.”

“We are exceptionally proud to be able to count Archer, one of the market leaders in the emerging field of Urban Air Mobility, among our customers," said CEO Robert Machtlinger. “We expect this exciting new area of aviation to show strong growth and we’re thrilled to be part of the journey with such an innovative partner.”

About Archer

Archer’s mission is to advance the benefits of sustainable air mobility. Archer’s goal is to move people throughout the world's cities in a quick, safe, sustainable, and cost-effective manner. Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility. Archer's team is based in Santa Clara, CA. To learn more, visit www.archer.com.

About FACC

FACC AG ranks among the world's leading aerospace companies and develops, designs and manufactures advanced lightweight systems for the aerospace industry. As a technology partner of all major manufacturers, FACC works together with its customers on solutions for the mobility of the future. Worldwide, an aircraft with FACC technology on board takes off every second. In the 2021 financial year, FACC generated annual sales of EUR 497.6 million. Approximately 3,000 employees from 41 nations are employed at 13 international locations worldwide. The company is listed on the Vienna Stock Exchange and is part of the Fortune 500 group AVIC, which provides access to the largest growth markets in the industry. For more information, please visit www.facc.com.

Source: Archer
Text: ArcherIR

View source version on businesswire.com: https://www.businesswire.com/news/home/20220718005475/en/

Archer Contacts

Louise Bristow: louise.bristow@archer.com

archer@launchsquad.com

investors@archer.com



FACC Contact

Stefan Schamberger: S.Schamberger@facc.com

Source: Archer Aviation Inc.

FAQ

What is the recent partnership Archer Aviation has entered into?

Archer Aviation has partnered with FACC to fabricate essential fuselage and wing elements for its eVTOL aircraft.

What are Archer's goals regarding its eVTOL aircraft?

Archer aims to achieve Type Certification for its production aircraft in 2024.

How does FACC's expertise benefit Archer Aviation?

FACC's expertise in lightweight construction and aerostructures is crucial for Archer's aircraft performance, helping meet its target range and payload capabilities.