Jetpack IPO Raises $27 Million

[Larry Dighera]

<http://www.avweb.com/avwebflash/news/Jetpack-IPO-Raises-27-Million-223610-1.html>
Jetpack IPO Raises $27 Million
By Mary Grady | February 24, 2015
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Martin Jetpack, the New Zealand-based company that aims to bring a commercial
jetpack to the market, raised $27 million Tuesday in its initial public
offering, bringing the total value of the company to about $100 million,
according to the Sydney Morning Herald. First deliveries of the devices, aimed
at the first-responder market, are scheduled for late 2016, at a retail price
of about $200,000. The company says the jetpacks can carry one or two people
for up to 30 minutes. The company is also working on an unmanned version of the
jetpack, called a Skyhook, which would be capable of carrying loads of up to
260 pounds.

The company also closed a deal last month with Kuang Chi Science, a Hong Kong
investment fund, raising $50 million over the next two years. "We are excited
with the prospect to partner on this disruptive transport technology," Kuang
Chi Science executive chair Liu Ruopeng said at the time. "With our knowledge
of advanced materials we hope to be able to help build a lighter, stronger
Jetpack with increased payload and range that will open a whole new set of
market opportunities here in China and globally." The Jetpack features a
composite structure pilot module and a ballistic parachute system that the
company says can deploy and safely recover the aircraft from as low as a few
meters above the ground.

Read More on This Topic:

<http://www.martinjetpack.com/>
Address:
Martin Aircraft Company
39 Ballarat Way, Wigram
Christchurch 8042
New Zealand

Telephone: +64 3 377 8584

<http://www.martinjetpack.com/gallery/images/category/1>
<https://en.wikipedia.org/wiki/Martin_Jetpack>

Video: <https://www.youtube.com/watch?v=mdQK_odgedk>
<https://www.youtube.com/watch?v=OtRUtJlacBI>
<http://www.martinjetpack.com/gallery/videos/category/2>
A Visual History of the Jet Pack:
<http://content.time.com/time/photogallery/0,29307,2030642_2209285,00.html>

[george152]

On 27/02/2015 8:38 a.m., Larry Dighera wrote:
>
>
> <http://www.avweb.com/avwebflash/news/Jetpack-IPO-Raises-27-Million-223610-1.html>
> Jetpack IPO Raises $27 Million
> By Mary Grady | February 24, 2015
> Related Articles
>
> Continental Motors Receives FAA Certification For 91UL Engine
> Remote Control Tower To Be Tested In Virginia
> Santa Monica Airport Commission Approves City Plan To Take Over KSMO
> AVweb Turns 20
>
> Martin Jetpack, the New Zealand-based company that aims to bring a commercial
> jetpack to the market, raised $27 million Tuesday in its initial public
> offering, bringing the total value of the company to about $100 million,
> according to the Sydney Morning Herald. First deliveries of the devices, aimed
> at the first-responder market, are scheduled for late 2016, at a retail price
> of about $200,000. The company says the jetpacks can carry one or two people
> for up to 30 minutes. The company is also working on an unmanned version of the
> jetpack, called a Skyhook, which would be capable of carrying loads of up to
> 260 pounds.
>
> The company also closed a deal last month with Kuang Chi Science, a Hong Kong
> investment fund, raising $50 million over the next two years. "We are excited
> with the prospect to partner on this disruptive transport technology," Kuang
> Chi Science executive chair Liu Ruopeng said at the time. "With our knowledge
> of advanced materials we hope to be able to help build a lighter, stronger
> Jetpack with increased payload and range that will open a whole new set of
> market opportunities here in China and globally." The Jetpack features a
> composite structure pilot module and a ballistic parachute system that the
> company says can deploy and safely recover the aircraft from as low as a few
> meters above the ground.


In my opinion this is a scam.
Reason why?
There has only been one untethered flight filmed where they 'tested' the
parachute system and that had a dummy 'pilot' the machine being remotely
controlled.
People have sunk millions into the umpteen year project.
Various Air Shows here have had the display and all the blurb but no-one
has taken it out and flown a circuit.
They claim to have a pilot testing it but at no stage has any-one seen
these flights apart from where they have two or three people hanging
onto it to stop it from free flight.
And one video of it flying round in a shed.
It's a scam

[Vaughn]

On 2/26/2015 2:38 PM, Larry Dighera wrote:
>
> <http://www.avweb.com/avwebflash/news/Jetpack-IPO-Raises-27-Million-223610-1.html>
> J
Given that the device seems to have at least double the bulk of the
pilot, how can they call it a "pack"? It is actually a small VTOL
aircraft, and a very questionable one at that.

[george152]

On 27/02/2015 11:46 a.m., Vaughn wrote:
> On 2/26/2015 2:38 PM, Larry Dighera wrote:
>>
>> <http://www.avweb.com/avwebflash/news/Jetpack-IPO-Raises-27-Million-223610-1.html>
>>
>> J
> Given that the device seems to have at least double the bulk of the
> pilot, how can they call it a "pack"? It is actually a small VTOL
> aircraft, and a very questionable one at that.
-
And its not the talk of the local aviation world which, had it been
capable of all that's been claimed, the subject of every conversation
and flying magazine