Mon, Nov 09, 2020
The Absence of Red Bull Has Been Significant... Could This Replace Them?
Our friends at the FAI tell us they are in discussions with Hong Kong-based Adventure Air Race Co. Ltd. (WCAR), regarding the development of an air race series to replace the discontinued and long-lamented Red Bull Air Race (RBAR) championship.
Adventure Air Race reportedly has the endorsement of Red Bull for this project, which will be called the World Championship Air Race.
Adventure Air Race reached out to the FAI to discuss the provision of safety officers and other technical support for the WCAR. This support is being coordinated through and with the assistance of the FAI Aerobatics Commission (CIVA). The RBAR was recognized as an FAI World Championship and it is proposed that the WCAR have the same recognition. In addition, the format of the WCAR race will closely follow that of RBAR events – an out-and-return course through gates – and WCAR hopes to protect this format of racing for their exclusive use.
Negotiations between FAI and WCAR are continuing, with the goal of a formal contract, which is expected to be completed before year’s end.
Recently; Greenpro Capital Corp. announced that it had signed a Letter of Intent on October 21, 2020 with Adventure Air Race Company Limited, a company incorporated in Hong Kong, in cooperation to promote the World Championship Air Race ("WCAR").
Greenpro planned to raise US$ 5 million via a private placement to fund the business development and the preparation for the upcoming World Championship Air Race ("WCAR") for the proposed 2021/22 air race events in Saudi Arabia, Egypt, Australia, India, China, South Africa, United Kingdom, France and other countries included in the Racing Calendar for the upcoming racing season.
WCAR reports that it has an 'Electrication Strategy' for its race planes in place and will actively push the inclusion of eVTOL (Electric Vertical Take Off and Landing) aircraft and Jetpack/Gravity Suit racing into the air sports, with as future inclusion of an Original Equipment Manufacturer (OEM) competition in the racing series.
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