Archer Announces Strategic Partnership With Anduril to Develop Hybrid VTOL Military Aircraft; Raises An Additional $430M
Anduril Industries Inc. (“Anduril”) and Archer Aviation Inc. (“Archer”) announced today that they have entered into an exclusive agreement to jointly develop a next-generation aircraft for defense applications.
The companies’ first product from this partnership is planned to be a hybrid-propulsion, vertical-take-off-and landing (“VTOL”) aircraft that will target a potential program of record from the United States Department of Defense (“DOD”)
To help fund Archer Defense and for other general corporate purposes, Archer raised $430M in additional equity capital today, further solidifying Archer’s financial position, with participation from longtime strategic partners Stellantis and United Airlines as well as new institutional investors, including Wellington Management and Abu Dhabi investment holding company 2PointZero, a subsidiary of UAE’S largest listed entity, IHC
SANTA CLARA, CA, December 12, 2024—Today, Anduril and Archer (NYSE: ACHR) announced an exclusive partnership to jointly develop a hybrid VTOL aircraft for critical defense applications targeting a potential program of record from the DOD.