CINCINNATI, May 31, 2017 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS), an American technology company focused on providing sustainable and cost-effective solutions to the electric transportation sector, today announced it will unveil its SureFly™ helicopter concept at the Paris Air Show on June 19.
"The helicopter has been around for 78 years and is finally being reinvented," said Stephen Burns, CEO of Workhorse. "We're excited to unveil the SureFly on the world stage as we believe it represents a major step forward for the global aviation industry. We've designed SureFly by leveraging our expertise in battery-electric powered mobility, controls and gas generators to accelerate the speed to market in this sector."
The goal of SureFly is to be safer and more stable than a typical helicopter due to its redundant design which includes four propeller arms, two fixed contra-rotating propellers on each arm, a backup battery to drive the electric motors in the event of engine failure and a ballistic parachute that safely brings down the craft if needed.
SureFly's hybrid design leverages Workhorse's platform battery packaging, management systems and controls utilized in its currently commercialized medium-duty, range-extended battery electric vehicles. It features a gas combustion engine generating electricity and a parallel battery pack offering a redundant backup power source, eliminates the need for long battery charging periods between flights. SureFly is designed to be easy to operate, and is expected to be capable of carrying two passengers up to 70 miles. After a quick refill, SureFly is ready for the next hop.
Early models will be pilot-operated. The goal is to introduce future models featuring autonomous flight capable of carrying payloads of up to 400 pounds. Anticipated markets for the SureFly are precision agriculture, emergency responders, city commuters and military.
Workhorse plans to begin test flights this year and intends to achieve Federal Aviation Administration certification in late 2019.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing sustainable and cost-effective solutions to the commercial transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. We also develop cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit www.workhorse.com.
This press release includes forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: our limited operations and need to expand in the near future to fulfill product orders; risks associated with obtaining orders and executing upon such orders; the ability to protect our intellectual property; the potential lack of market acceptance of our products; potential competition; our inability to retain key members of our management team; our inability to raise additional capital to fund our operations and business plan; our inability to maintain our listing of our securities on the Nasdaq Capital Market; our ability to continue as a going concern; our liquidity and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC. Workhorse expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE Workhorse Group Inc.