LAS VEGAS, July 19, 2006 (PRIMEZONE) -- AirScooter Corporation (Pink Sheets:ASCO), an innovator of new air vehicle concepts, announced today that its wholly-owned subsidiary, AeroTwin Motors Corporation, has entered an important phase of engine business development.
"In response to market demand, we are excited that contract manufacturer, Astro Products, is ramping up volume production of our patented AeroTwin engine," said Dwaine Barnes, president. "We have been collaborating with Astro Products for the last two years and we are leveraging the experience and knowledge gained from the first production earlier this year. I am impressed with Astro's team and operations and this transition of greater manufacturing responsibility allows us to focus on serving customers. Astro's experience, facilities, computerized equipment, and international alliances offer AeroTwin advanced, high-quality and efficient production."
In June, AeroTwin selected Astro Products to manufacture, build and assemble a first batch of 200 engines. "This is an exciting time for us," said Tim Kilpatrick, president and CEO of Astro Products, LLC. "AeroTwin is a cornerstone customer for us and we have committed a significant amount of resources to their success; they have developed a technologically advanced engine for an industry that has a real need for this product. We see this as a tremendous opportunity for not only continued growth for Astro, but to also make an impact in a multi-billion dollar industry that is rapidly growing. The future looks bright."
Barnes added, "Market response from seeding initial production engines with targeted customers has been encouraging. Customers recognize our compelling power/torque/weight performance advantage. We are working through various aircraft installations and are encouraged by early flight performance. We expect to gather more engine performance data over the next several months. Both new and repowers of sport aircraft, including pushers, powered parachutes and gyrocopters offer a dynamic market for our modern four-stroke engine. We also see applications for a U.S. assembled engine in recreational and military hovercraft as well as tactical UAVs and manned surveillance craft for military and homeland security."
The AeroTwin lightweight two-cylinder 972cc four-stroke engine comes in two models. The AT972T is turbo-charged producing 65 hp at 4200 rpm and the AT972 is a standard engine producing 55 hp at 5000 rpm, both providing exceptional flat torque at 3000 to 5000 rpm. AeroTwin's patented design features electronic fuel injection and digital engine management. The engine operates horizontally or vertically and mounts to provide output from either end of the engine for maximum flexibility.
As the Company focuses on engine production, it continues to advance its innovative flight products. The AirScooter G70 UAV is performing very well in flight tests; it is a stable, easy to fly airborne platform. All five completed G70s are being enhanced with the latest updates and are available for sale in 2006. A proprietary custom accessory is being evaluated for a prospective customer to demonstrate a unique G70 application for homeland security and related customers.
While the Company has been pleased with AeroTwin engine performance during AirScooter PAV flight testing, it believes existing extruded aluminum rotors do not meet future production requirements. The Company has sourced and is awaiting delivery of new composite rotors to meet quality demands and provide quiet enhanced flight performance. As soon as the new rotors are installed, flight and power system testing will continue to determine if additional modifications are warranted prior to production being scheduled.
About AirScooter Corporation
AirScooter Corporation is engaged in the development and commercialization of advanced manned and unmanned air vehicles and power systems for the recreational, commercial and government markets. The Company has applied coaxial counter-rotating dual rotor systems to the AirScooter(tm) personal air vehicle (PAV) and AirScooter Unmanned Aerial Vehicles (UAVs). The Company's wholly owned subsidiary, AeroTwin Motors Corporation, is engaged in the manufacture and distribution of patented AeroTwin(tm) 65 HP lightweight sport aircraft engines. For more information on the company, its technologies and products please visit www.airscooter.com. For information on the AeroTwin engine visit www.aerotwinmotors.com.
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About Astro Products, LLC
Astro Products, LLC is a privately held manufacturing company with a progressive machine shop featuring a diverse assortment of 3-, 4- and 5-axis CNC machines and specializes in full-service precision machining to the commercial, military and aerospace industries. Astro is committed to implementing the latest technology and industry advancements to deliver a superior product and achieve a competitive advantage in these specialized industries. The company recently relocated to an 87,800-square-foot facility in Fort Worth, Texas, with approximately 30,000 feet of controlled environment.
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. You should not place undue reliance on these forward-looking statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements, particularly those risks and uncertainties inherent in the process of developing and distributing aeronautical products and engines. Factors that may cause such a difference include risks related to our limited operating history, risks associated with completing development and production of products, the risk that our products will not meet with market acceptance, the risk of future warranty and product liability claims, the uncertainty of access to capital to sustain operations, achieve profitability or continue as a going concern, the failure to secure and maintain relationships with suppliers, manufacturers and other third parties, reliance on key employees and consultants, and dependence on intellectual property. Further information on the factors and risks that could affect our business, financial condition and results of operations, are contained in our public corporate documents. These forward-looking statements are based on information and management's expectations as of the date hereof. Future results may differ materially from our current expectations. AirScooter Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.