Atair Aerospace Receives Funding From Festo Corporation
BROOKLYN, NY – May 14, 2003 – Atair Aerospace has recently formed an exciting new relationship with the Festo Corporation, who invested $250,000 in Atair. The funds will support Atair's development of its advanced-design Onyx autonomous guided parafoil system. Dan Preston, CEO of Atair Aerospace, commented: "With representation in 176 countries, ISO certified factories is 56 countries and private revenues exceeding $1.5 billion, Festo's financial, technical and logistical support will prove to be an invaluable resource. Atair looks forward to fostering this relationship well into the future."
Hans Zobel, President and CEO of Festo Corporation offered praise stating "Atair Aerospace represents what we look for in a partnering company. Utilizing cutting-edge technologies to simplify product designs and maintain efficiency, they are a model for young research and development companies."
This support serves to underscore an emerging performance record of innovative research and development at Atair Aerospace. The company has pioneered a dual parachute system that autonomously pilots cargo from a high altitude under a high speed guidable parafoil by using GPS (Global Positioning System) and INS (Inertial Navigation Sensors) combined with pneumatic actuators and a secondary parachute for soft touchdown. The proliferation of inexpensive surface to air missiles is forcing modern militaries to rethink how to effectively and safely delivery vital supplies to hostile environments; autonomous guided parafoil systems are the solution. Atair Aerospace is poised to meet this critical need with its novel, proprietary technology and critical industry partnerships.
For more information, contact Rick Zaccari at
PR@atairaerospace.com or visit the Atair Aerospace website at
www.atairaerospace.com.
