Makes An Investment In Ampaire Inc.

Continental Aerospace Technologies (Continental), an AVIC International Holding company, announced today that it has invested in Ampaire Inc., a technology innovation company developing electric aircraft and electric propulsion system concepts.

The investment includes both cash and various in-kind contributions to Ampaire's efforts to develop new aircraft concepts that reduce aviation's carbon footprint, while increasing functionality, safety, and consumer value.

"We are excited about our partnership with the Ampaire team in its development of advanced electric aircraft concepts," said Rhett Ross, President & CEO of Continental Aerospace Technologies. "Working with a company free from the strictures of the historic aircraft industry is helping our team tailor our strategy and finalize our products to support the next generation of aircraft."

Continental has long been an innovator in General Aviation, claiming firsts in the use of turbocharging, Full Authority Digital Engine Control (FADEC), and the successful commercialization of Jet-A fueled piston aircraft engines to name a few. Ampaire's leadership team has a strong background in aerospace and electric vehicles, bringing rare capabilities and vision to the development of new, practical, electric aircraft that use integrated electrical and combustion power system concepts. This collaboration allows both companies to continue to learn while delivering new capabilities to the market.

"Electric aircraft will play an important role in the future of aviation," said Kevin Noertker, Ampaire’s CEO. "Continental shares this vision, and we are eager to pair our work with its experience and resources to push the industry forward."

With its latest round of financing complete, Ampaire is currently working on completing its initial electric power system design and control methodology. Thereafter, the company will install the system for flight testing in a Cessna 337 Skymaster aircraft. The aircraft will then complete initial flight testing, including on a real-world commuter flight route in Hawaii. The results of these activities will be used to further refine the power system concept for tighter integration with new airframe designs.

(Source: Continental Aerospace Technologies news release)

FMI: www.continentalmotors.aero