Financial News
[Pangyo Interview] AIRBILITY Aims to Lead Global Market with Next-Generation Aerial Mobility Solution 'eVTOL AB-0'
November 14, 2024 at 03:00 AM EST
Through commercialization in 2025 and market expansion, AIRBILITY aims to lead the global aerial mobility market with its high-speed eVTOL aircraft, the AB-0, designed for emergency logistics, surveillance, and disaster response.
SEONGNAM, KOREA, November 14, 2024 /24-7PressRelease/ -- AIRBILITY Inc. (co-CEOs Jinmo Lee and Taekyu Reu) is advancing into the global market with its next-generation aerial mobility solutions. Founded in 2023, AIRBILITY focuses on developing high-speed electric vertical takeoff and landing (eVTOL) aircraft powered by electric propulsion systems. It targets completing the AB-0 prototype in 2024 and commercializing it by 2025.
The flagship product, AB-0, is a high-speed electric eVTOL designed for emergency logistics, surveillance, and disaster response. Developed to meet the rising global demand for disaster response and urgent logistics, the AB-0 is adaptable to various industries, including wildfire monitoring, anti-drone solutions, and vessel supply. Combining electric propulsion technology with a hybrid energy system, it can achieve speeds of up to 200 km/h and extended flight endurance with a low-noise design suited for urban environments.
AIRBILITY targets government agencies, public organizations, large infrastructure companies, and municipalities, collaborating to provide emergency logistics, surveillance, and disaster response solutions. The company is actively involved in various governmental R&D projects.
Expanding beyond Korea, AIRBILITY seeks growth opportunities in the U.S., Japan, and Southeast Asia, focusing on disaster response, logistics, and security surveillance. The company plans to collaborate with local government agencies, emergency response companies, and infrastructure protection and security partners in these regions. It has signed an MOU with Japan's ADJ for joint development and plans to strengthen its global presence through partnerships with entities like the U.S. EAA.
Jinmo Lee noted, "Pangyo, a hub of technological innovation in Korea, offers excellent accessibility to investors and strong infrastructure for developing and testing aviation technology. Leveraging this, AIRBILITY is accelerating commercialization by collaborating with local and international municipalities and public organizations on PoC (proof of concept) projects."
AIRBILITY is preparing for a Pre-Series A funding round following its completed seed investment. The company aims to lead the next-generation aerial mobility industry through ongoing investment and partnerships, with a target for commercialization in 2025.
Pangyo Techno Valley is a global integrated R&D hub focused on IT, BT, CT, and NT, integrating Research (R), People (P), Information (I), and Trade (T). As Gyeonggi-do's representative innovation cluster, Pangyo Techno Valley was established to secure national new growth drivers such as technological innovation, human resource development, job creation, and enhancing international business competitiveness. As of 2023, 1,666 companies employ 78,751 people, and it has positioned itself as the most innovative hub in South Korea, with sales amounting to 167.7 trillion KRW (125.5 billion USD).
Furthermore, the Techno Valley Innovation Division of the Gyeonggi-do Business & Science Accelerator (GBSA) holds monthly events such as the Pangyo Evening Meet-Up, Pan-Pan Day, and the Pangyo Startup Investment Exchange "In-Best Pangyo" to maximize the value of Pangyo Techno Valley. They also support the Pangyo Overseas Promotion Program to publicize information about Pangyo's companies, products, and services to domestic and foreign investors and the media, thereby facilitating foreign investment.
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