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AIBOT wins $15 Million Grant

AIBOT wins $15 Million Grant


AIBOT grantAIBOT, a California-based firm specializing in AI-defined electrical vertical take-off and touchdown (aiEVTOL) plane and ecosystem, has been awarded a $15 million grant from the California Competes Grant Program. This substantial endorsement from the California Governor’s Workplace of Enterprise and Financial Growth (GO-Biz) marks a big milestone for AIBOT and the rising electrical vertical take-off and touchdown (eVTOL) sector.

Jerry Wang, Government Chairperson of AIBOT, expressed gratitude for the grant: “We’re deeply grateful for this important CalCompetes grant from the State of California. Receiving this grant is a robust endorsement of our mission and potential. We’re able to make the most of this chance to fortify our position as an ultra-high-tech chief within the Superior Air Mobility sector, making substantial contributions to California’s economic system and job market.”

The California Competes program, which obtained over $1.8 billion in grant requests this 12 months for the $120 million accessible, goals to assist revolutionary firms seeking to broaden or set up their presence in California, selling job creation and financial growth. AIBOT’s choice as one in every of solely eight recipients, with two being eVTOL firms, highlights the significance of eVTOL know-how in driving California’s dedication to innovation and sustainability. The grant not solely demonstrates the state’s imaginative and prescient of being a pacesetter within the Superior Air Mobility (AAM) sector but in addition affirms its dedication to fostering cutting-edge industries that promise a extra sustainable and technologically superior future.

Dee Dee Myers, Senior Advisor to Governor Newsom and GO-Biz Director, emphasised the state’s dedication to being a pacesetter within the trade, saying, “Superior air mobility is an trade of the long run, and we wish to guarantee California stays a pacesetter in that trade. We look ahead to AIBOT’s success as they construct out their firm and proceed to develop their presence throughout California.”

Assemblymember Josh Lowenthal, representing California’s 69th District, praised AIBOT’s revolutionary method, stating, “AIBOT’s choice for the CalCompetes Grant is a convincing vote of confidence of their revolutionary method and groundbreaking know-how. Their dedication to making a sustainable and interconnected future aligns completely with California’s financial and environmental objectives, and I’m excited to see how their enlargement will energize Lengthy Seaside and the encompassing communities.”

The $15 million grant signifies AIBOT’s significance in advancing aerial mobility in California, with plans to create 697 new full-time jobs and make investments $494 million in capital over the subsequent 5 years. Centered on centralizing operations in California, significantly in Lengthy Seaside and Mojave, the grant will improve AIBOT’s analysis and growth capabilities, flight testing, and manufacturing. The strategic alignment of flight testing with prototyping and manufacturing amenities is a key part of AIBOT’s method to innovation, accelerating the corporate’s endeavors in growing superior synthetic intelligence (AI) software program and producing AI-defined autonomous electrical plane.

Jerry Wang added, “The grant will permit AIBOT to carry its flight testing and manufacturing to California whereas enabling fast-tracking the manufacturing of our first commercialized aiEVTOL product which incorporates native funding to construct manufacturing amenities and create quite a few job alternatives. This endorsement by GO-Biz is an affirmation of the arrogance positioned in AIBOT’s imaginative and prescient, our technological prowess, and our development technique in California.”

Mayor Rex Richardson of Lengthy Seaside commented: “I’m delighted that Lengthy Seaside’s AIBOT was awarded a $15 million CalCompetes Grant, recognizing their inexperienced innovation and technological management. This helps our metropolis’s financial development and sustainability imaginative and prescient, and I’m happy with their contribution to our neighborhood.”

Reflecting on AIBOT’s CalCompetes journey, Tommy Xie, AIBOT Assistant Treasurer and grant venture proprietor stated: “I’m stuffed with gratitude, and I’ve immense appreciation for the unwavering assist and steerage of the CalCompetes staff over the previous three months. I additionally wish to give particular acknowledgment to our devoted staff. This achievement is certainly a proud second for AIBOT.”

In early 2024, AIBOT is ready to host an unique firm debut occasion at its Lengthy Seaside headquarters, introducing its groundbreaking know-how, merchandise, and complete marketing strategy to invited company. This occasion will set the stage for a landmark second later within the 12 months, as AIBOT plans to unveil its first business unmanned aiEVTOL plane, designed to serve a wide range of industries together with cargo, agriculture, high-speed inspection, and medical deliveries.

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