CINCINNATI, June 6, 2018 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ:WKHS), an American technology company focused on providing sustainable and cost-effective solutions to the commercial transportation sector, announced that the Federal Aviation Administration (FAA) accepted their application for Type Certification for their SureFly eVTOL aircraft. The June 1st application is an important step forward, as the SureFly design appears to be the first hybrid-electric eVTOL multi-copter to reach this important milestone with the FAA.
SureFly has been designed to create a new type of aircraft that is intended to be easy to operate, safe to fly and expected to be moderately priced relative to a conventional helicopter. SureFly has eight electrically driven props that are powered via a piston or turbine based generator. The craft also has a small lithium battery that is designed to power the motors for a safe descent and landing in the rare event that the generator should fail while in flight. In addition to these redundancies, the SureFly design has a ballistic parachute that works above 100ft of altitude.
The SureFly system features a state of the art fly-by-wire control system that enables single joystick control of the craft. The lightweight carbon fiber fuselage and large front windshield also lend a level of comfort and safety for the pilot and passenger. The SureFly can accommodate a pilot and passenger or a pilot and cargo for a wide variety of applications.
"The FAA has yet to certify an aircraft like SureFly," said Steve Burns, CEO of Workhorse Group. "We have been working closely with the FAA while we have been under our Experiment Certification status, and we feel that their acceptance of our Type Certification application represents a vote of confidence in our team, our product and the future of electric vertical take and landing aircraft here in the United States."
Because the FAA has not certificated an aircraft like SureFly before, and because this is truly a first-of-its-kind design, much of the FAA's regulatory certification framework does not apply to SureFly, so Workhorse is working closely with top experts in the field to develop new certification requirements that fit a hybrid-electric eVTOL like SureFly.
You can check out a video of the progress SureFly has made over the past few months, all leading up to their recent untethered hovers, here: https://youtu.be/5yFZAPdYCck.
The Surefly is a two-place hybrid-electric eVTOL multi-copter aircraft developed by Workhorse in Loveland, Ohio. It is designed to carry about 400 pounds of payload approximately 70 miles, at a speed of about 70 miles per hour, day or night. The aircraft utilizes a fly-by-wire flight control system designed to maintain the flight envelope of the aircraft. With eight independent motors, each driving its own rotor system, the aircraft has the system redundancy required to land safely should a motor fail. A parachute deploys as the final backup, should the aircraft encounter an unsafe situation. The aircraft is quiet, comfortable, and practical.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing sustainable and cost-effective solutions to the commercial transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. We also develop cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit www.workhorse.com.
Forward Looking Statement
This press release includes forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: our limited operations and need to expand in the near future to fulfill product orders; risks associated with obtaining orders and executing upon such orders; the ability to protect our intellectual property; the potential lack of market acceptance of our products; potential competition; our inability to retain key members of our management team; our inability to raise additional capital to fund our operations and business plan; our inability to maintain our listing of our securities on the Nasdaq Capital Market; our ability to continue as a going concern; our liquidity and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC. Workhorse expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Workhorse Group Inc.
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