Detroit-based aviation start-up and global logistics innovation and services company sign memorandum of understanding.
Detroit, MI /PRNewswire/ - Airspace Experience Technologies (ASX), an aviation technology start-up, re-imagining personal air transportation and global logistics innovation and services leader, TPS Logistics have signed a memorandum of understanding targeted at evaluating the future market opportunities of introducing electric take off and landing, wing-lifted (eVTOL) aircraft into the logistics value-chain.
"Studies estimate that by 2035, global air travel based inspections, goods, and passenger services have the potential to be a $74 billion market," said Jon Rimanelli, co-founder and CEO at ASX. "Almost 60 percent of that market will be driven by commercial good and services transport and we are excited to work with TPS Logistics on jointly disrupting the urban air logistics sector."
From their respective Detroit based headquarters, the ASX team is developing its tilt-wing eVTOL aircraft the MOBi-One, while TPS Logistics is focused on the business of facilitating logistics and freight transportation solutions leveraging cloud based, customizable technology with actionable business analytics to help companies streamline their logistics operations and grow.
"We want to continue to provide current and future customers with the highest value logistics experience," said Parker Stallard, Executive Vice President at TPS Logistics. "By leveraging our deep knowledge in logistics data and business models, we can ensure that the specifications of the ASX aircraft will support emergency response and other logistics services more efficiently and cost effectively than traditional helicopters."
Today, vertical takeoff and landing capability for cargo and emergency response civilian use cases have been limited to rotorcraft such as helicopters, with limited range, high energy cost and noise footprint. By leveraging existing automotive EV technology and mass production techniques, ASX will be able to significantly reduce the cost of its eVTOL aircraft versus the solutions currently available in the market.
With introducing TPS analytics and data in the development process ASX will further refine MOBi-One specifications to align with different cargo and profiles as well as optimize aircraft range and payload requirements.
"By working together with TPS Logistics we plan to revolutionize cargo transport, reducing the carbon footprint and increasing capacity starting in the mid-west with demonstration flights as early as 2022." said Dr. Anita Sengupta, Co-Founder and Chief Product Officer at ASX.
After completing the built and flight-tests of five subscale concept vehicles, ASX is now ready to begin the full-scale production design and commercial certification process for MOBi-One. The start-up recently launched a side-by-side Regulation CF and Regulation D Series Seed funding campaign with its partner SeedInvest. Proceeds of the seed round will be used to acquire key automotive EV technology, build a series of full-scale prototype and initiate Federal Aviation Administration (FAA) certification.
Airspace Experience Technologies (ASX) is an aviation start-up re-imagining personal air transportation for everyone by offering eco-friendly, quiet, and connected eVTOL aircraft that leverage the perfect fusion of automotive innovation and aviation technology. Designed, developed, and built in Detroit, Michigan, ASX will help drive sustainable change and growth in the city and region by creating hundreds of new jobs and training opportunities for skilled professionals. For more information, visit ASX at www.iflyasx.com
About TPS Logistics
TPS Logistics was founded in 1991 in Detroit, MI as a full platform non-asset based logistics management company. TPS started with 3 employees and 1 customer and today has grown to manage more than $1.5B in transportation annually, with clients and employees located across the globe. TPS has been and will continue to be at the forefront of logistics innovation and services offerings.
TPS logistics programs are predicated on three core principles, efficiency, service and cost savings. These services are designed to deliver our clients bottom line cost savings year over year while implementing and managing a world-class logistics network designed to meet our client needs. "Around the world, around the clock." For more information, visit TPS at http://www.tpslogistics.com
Disclaimer: Airspace Experience Technologies Inc. is offering securities under Regulation CF and Rule 506(c) of Regulation D through SI Securities, LLC ("SI Securities"). The Company has filed a Form C with the Securities and Exchange Commission in connection with its offering, a copy of which may be obtained at https://www.seedinvest.com/asx.