- Inclusive Collaboration: Parties to work closely on various AAM ecosystem aspects, including infrastructure, manufacturing, training, maintenance, repair, and operations (MRO).
- Public and Medical AAM Operations: The agreement encompasses the development of both public and medical AAM operations on Jeju Island.
- Carbon Neutrality Alignment: The initiative supports Jeju Island’s commitment to becoming carbon neutral by 2030, offering environmentally responsible transportation options.
SANTA ANA, Calif., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Overair, an emerging global leader in advanced air mobility (AAM) and developer of all-electric vertical takeoff and landing (eVTOL) aircraft, today announced it has signed a Memorandum of Understanding (MoU) with Hanwha Systems and South Korea’s Jeju Special Self Governing Province to establish and lead an advanced air mobility (AAM) ecosystem in Jeju, the largest island in South Korea and one of the country’s main tourist destinations.
The parties will collaborate closely on all aspects of the AAM ecosystem, including infrastructure, manufacturing, training, and maintenance, repair, and operations (MRO). This agreement also includes the establishment of a cooperative plan to develop both public, medical, and tourism AAM operations on the Island.
“Jeju Island is a beautiful resort destination, and it's an ideal hub for advanced air mobility given its geography and its ambition to become carbon neutral by 2030,” said Ben Tigner, CEO at Overair. “We look forward to collaborating with our partners at Hanwha Systems.”
Jeju Island is an important tourism, green energy, and ecological province for South Korea. The island is currently preparing to become carbon neutral by 2030—producing all of its energy needs from renewable, zero-emission sources. Jeju Island is also a registered biosphere, with unique geography and ecology that draws tourists from across the world.
“We're excited to partner with Overair and Hanwha Systems, ushering in a new era of sustainable and innovative transportation for Jeju Island,” said Oh Young-hun, Governor, Jeju Island. “This collaboration supports our 2030 carbon neutrality goal, enhances tourism, and provides employment for our community, paving the way for a greener and more connected future.”
To learn more about Overair and its Butterfly aircraft, please visit www.Overair.com.
About Overair
Overair (https://overair.com) is positioned to be a global leader in advanced air mobility. Spun out of Karem Aircraft in 2020, the Santa Ana, California-based company announced the design of its vehicle, Butterfly, in 2021. Butterfly is a breakthrough electric vertical takeoff and landing (eVTOL) aircraft. Butterfly's proprietary technologies, derived from the Overair team's decades of aerospace experience, create critical power reserves using today's commercially available battery cells, which translate into advances in safety and a superior experience for riders and communities. With eVTOL adoption set to revolutionize aerial mobility, Butterfly is positioned to set the bar on real-world dependability, with best-in-class payload, sound emissions and weather capability. Overair has operating partnerships with companies such as Hanwha Systems and Bristow Group, and the team completed its full-scale propulsion testing in the second quarter of 2022.Overair’s full-scale prototype is in its final assembly and will begin flight testing in 2024.
About Hanwha Systems
Hanwha Systems (https://www.hanwhasystems.com) is the representative company of the Republic of Korea ranging with the world-class companies in various business areas based on avionics and space, security and safety, and information systems service. Hanwha Systems has a Defense Division and an ICT Division with the customer value being the top priority.
Hanwha Systems also offers the next generation transportation system that will change our future lifestyle with UAM (Urban Air Mobility). As a global total solution provider for urban air mobility, Hanwha Systems intends to provide the safest and most convenient mobility services.
And Hanwha Systems is developing Low-Earth Orbit (LEO) satellite communication antennas based on its high-tech communication, sensor, and ITC capabilities. LEO satellite constellations communication is one of the most promising future technologies that will provide 5G-LTE level high speed internet services via satellite constellations circling the Earth and realize the vision of the space internet.
About Jeju Special Self-Governing Province
Jeju (https://www.jeju.go.kr/), also known as Jeju Island, is the only self-governing province in South Korea. Jeju Island is the largest island in South Korea with approximately 700,000 residents and 15 million visitors per year. Jeju is home to a small technology hub. In 2005, the Jeju Science Park was created, a complex for technology companies and organizations. Since its implementation, it has attracted 117 IT and biotech companies.
Media inquiries
Kim Jennett
Head of Marketing and Communications
Overair
kjennett@overair.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7570b3d3-0f40-46fa-82ac-dfbe9c43b68e
