This morning - $ACHR, one of the leaders in the EVTOL space, announced a partnership with the United States Air Force worth up to $142 million. Building off of research and development work that began in 2021, this deal includes the delivery of up to six of Archer's Midnight Aircraft (their flagship model) and the sharing of flight test data, pilot training agreements, and more.

The Midnight, is designed for a pilot and four passengers to carry 1,000 pounds in back to back 20 mile trips within a large city (like New York) or between close cities (like San Francisco & Oakland).

Building on their partnership with $STLA for manufacturing expertise, Archer is building their manufacturing plant in Georgia, with the capability of producing 650 aircraft per year.

With the hiring of former FAA Administrator Billy Nolen as the Chief Safety Officer, Archer is planning on FAA certification by late 2024, with its urban air mobility taxi service launching in 2025.

This agreement also builds upon the initial agreement Archer had in 2021, where United Airlines signed an agreement worth $1.5 billion to purchase 200 aircraft for the purpose of ferrying passengers between hubs or from airports.

While my current buy of Archer isn't reflecting, I have been following this stock since 2021 and initiated an initial position in February of 2023 (which I later sold). I recently re-entered the stock prior to today's 35% jump.