Herndon, Virginia, Aug. 23, 2017 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) announced today that its CIT GAP Funds has invested in Advanced Aircraft Company (AAC), an aeronautical engineering and aircraft manufacturing company based in Hampton Roads, Virginia. The Charlottesville Angel Network also participated in this investment round alongside CIT.
The Advanced Aircraft Company specializes in vertical takeoff and landing unmanned aerial systems, that target both the commercial and military markets. AAC was founded by William J. Fredericks in October 2015 as a technology spin off from the NASA Langley Research Center. While employed at NASA, Fredericks performed the conceptual design and lead the development of NASA’s Greased Lightning UAV technology. This technology is unique in that it is a true “no compromises” vertical takeoff and landing (VTOL) aircraft. It achieves the aerodynamic efficiency of a conventional fixed wing airplane, while simultaneously achieving VTOL capability. AAC has developed a licensing agreement that allows the company to utilize the NASA technology in order to bring it to market.
In addition to the Greased Lightning, AAC has developed another cutting edge aircraft, which it will bring to market first, the Hercules unmanned aircraft system (UAS). The Hercules is a multi-rotor UAS powered by electricity generated by a 2-stroke gasoline engine and features number of aerodynamic improvements. The unique aircraft features a streamlined aerodynamic design, which features hybrid electric propulsion that allows for longer flight times, and rigorous safety procedures that can be employed if the combustion engine fails. These technologies enable the Hercules UAS to fly multiple hours, while other battery powered multi-rotors are limited to 20 to 30 minutes of flight time.
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