NEW YORK, Sept. 17, 2015 /PRNewswire/ -- Swedish unmanned helicopter company CybAero, which is listed on Nasdaq OMX First North in Stockholm, has gained a new shareholder. Subversive Capital, a US fund, has acquired the remainder of California-based AeroVironment's CybAero holding.
"We are delighted that Subversive Capital decided to become a major shareholder of CybAero and we look forward to working closely with them," said CybAero CEO Mikael Hult. "We also remain committed to our partnership with AeroVironment. "
Subversive Capital's General Partner, Michael Auerbach, said, "CybAero's product line APID ONE is a game-changing remote-piloted aircraft that fills a vacuum for commercially viable systems. We see this technology as a major disruptor to industries such as agriculture, pollution control, and maritime security monitoring, as well as a delivery system for humanitarian aid."
Subversive Capital invests primarily in industries that require navigating complex political environments and regulatory regimes. Mr. Auerbach is also a Senior Vice President at Albright Stonebridge Group – a leading commercial diplomacy firm chaired by the US former Secretary of State Madeleine Albright.
CybAero develops and manufactures Remotely Piloted Aircraft Systems (RPAS) for safer and more cost-effective aerial operations in various environments, including those hazardous in nature. The company has made a great international impact with its APID ONE helicopter, which can be adapted for both military and civilian applications such as coastal and border surveillance, search and rescue missions, and mapping. CybAero's head office is in the Mjärdevi Science Park in Linköping, Sweden. The company has around 50 employees and has been listed on the Nasdaq First North since 2007. Remium Nordic AB is the company's certified adviser.