PJET University Campus Electric Vehicle Pilot Could See Rapid Expansion

Rhea-AI Summary

Priority Aviation, Inc. (USOTC: PJET) announced the addition of an electric vehicle (EV) pilot to its student housing initiatives, following positive inquiries for expansion to other campuses. PJET's EV supply is confirmed as viable. The company is also finalizing the launch of its Student Housing By Owner (SHBO) App, which integrates technology to enhance student living. In Texas, PJET plans to fund a residential building supporting a university with 1,200 students. The pilot includes ten electric scooters, aiming to gather data for scalable solutions across universities.

Positive

• Addition of EV pilot could enhance service offerings and attract interest from other campuses.
• Completion of the SHBO App suggests readiness for market launch, potentially driving revenue.
• Funding and construction of a student housing building may establish a solid revenue stream.

Negative

• Dependence on pilot program results carries risk; negative outcomes may limit future expansion.
• The company faces competition with more robust financial resources in the technology and student housing sectors.

DALLAS, Nov. 18, 2021 /PRNewswire/ -- Priority Aviation, Inc. (USOTC: PJET) ("PJET") today confirmed the company is adding an electric vehicle (EV) pilot to its existing brick-and-mortar student housing pilot.  After making the EV pilot announcement yesterday, PJET received multiple inquiries about bringing a similar pilot to additional university campuses.  Management is evaluating the opportunity to expand the pilot.  PJET's EV supply is viable.  The company plans to follow up on terms and conditions on the other campuses.

PJET recently introduced a new business focus delivering technology solutions to improve the student living experience.

The PJET student living technology solution is centered on a Student Housing By Owner (SHBO) App. The development of the App is complete, and the App is now undergoing an internal quality review. The App is expected to launch in production before the end of the year.

PJET is building a brick-and-mortar component of its business to physically trial and prove parameters for its technology solutions.  The company has reached terms to fund and build a student housing residential building in Texas that will support a small private university with an enrollment of approximately 1200 students. 

PJET yesterday announced that it will add an EV pilot to its brick-and-mortar pilot.  PJET has ordered ten electric scooters that will deployed for use on the same campus with a mobile app to access the scooters. PJET will use the pilot to generate data for a more comprehensive technology solution that can be scaled to any university.

21 million U.S. college students are estimated to have over $376 billion in spending power.  In 2020, students spent $39 billion on food alone.  Annual student spending on clothes and accessories is estimated at $67 billion.  Universities themselves spend approximately $1 billion annually advertising to the university student demographic.

See College Student Spending Habits For 2021 to learn more.

PJET's Student Housing App design includes an artificial intelligence engine intended to integrate a network of businesses addressing the student living ecosystem.

Visit the company's new website periodically to look for the latest updates

Company Website – www.pjet-info.com

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

Contact:
Steven Rash 
Info@pjet-info.com 
+1 (800) 861-1350

View original content:https://www.prnewswire.com/news-releases/pjet-university-campus-electric-vehicle-pilot-could-see-rapid-expansion-301428056.html

SOURCE Priority Aviation, Inc.

FAQ

What is PJET's new initiative regarding electric vehicles?

PJET is adding an electric vehicle pilot to its student housing program, with plans for expansion to other campuses.

When will PJET launch its Student Housing By Owner App?

The app is expected to launch in production before the end of the year.

How many students will benefit from PJET's new residential building in Texas?

The building will support a small private university with an enrollment of approximately 1,200 students.

What technological solutions is PJET introducing for student living?

PJET is developing a SHBO App and implementing electric scooters for improved student living experiences.

What is the estimated spending power of college students in the U.S.?

U.S. college students are estimated to have over $376 billion in spending power.