Fri, 17 Sep 2021

HAV Announces $200 Million Investment Commitment

ACCESSWIRE
03 Aug 2021, 00:05 GMT+10

Hybrid Air Vehicles (HAV) is pleased to announce a $200 million investment commitment from GEM Global Yield LLC SCS (GEM) as HAV pursues a public listing.

BEDFORD, UK / ACCESSWIRE / August 2, 2021 / Under the agreement, GEM will provide HAV with a $200 million Share Subscription Facility for a 36-month term following a public listing of HAV's common stock. Concurrent with the public listing HAV will issue GEM 0.75% of the common stock of the company at par value.

The agreement with GEM allows HAV to offer customers lease, charter, and service provision options. Not only does this diversify HAV's business offering, but it also facilitates access to aircraft for customers who do not traditionally purchase outright. This is particularly relevant in markets such as ultra-low emissions mobility and experiential travel.

'This capital will allow us to hold aircraft on our balance sheet to deliver more options to our customers,' comments HAV's CFO, Hwfa Gwyn. 'It also solidifies our commitment to a public listing in the US, either via a traditional IPO or a SPAC merger.'

HAV's first production aircraft, Airlander 10, will produce up to 90% fewer emissions than other aircraft in similar roles from 2025, with a clear path to zero emissions before 2030. Airlander has applications across the mobility, logistics, experiential travel, and communications & surveillance markets. Earlier in 2021, HAV revealed interior concepts for up to 100 passengers. These interiors highlight Airlander's ability to be a quick win in decarbonising short haul passenger transport.

About Hybrid Air Vehicles Limited
Hybrid Air Vehicles is the company behind Airlander technology. Their first production aircraft, Airlander 10, will deliver up to a 90% reduction in carbon emissions compared to other aircraft in its various roles, before attaining zero emissions by 2030. The company's vision is to be the future of zero-carbon aviation. It expects Airlander to be the first large scale aircraft (capable of carrying up to 100 passengers or 10 tonnes) to achieve zero emissions flight. The production standard aircraft is expected to be in flight from 2023 and in service in 2025.

Please visit www.hybridairvehicles.com for more information. For media enquiries, please email media@hybridairvehicles.net.

About GEM
Global Emerging Markets ('GEM') is a $3.4 billion, alternative investment group with operations in Paris, New York, Nassau (Bahamas) and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 440 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Hybrid Air Vehicles Limited



View source version on accesswire.com:
https://www.accesswire.com/657972/HAV-Announces-200-Million-Investment-Commitment

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