-
No injuries or damage to other property reported during envelope
expansion flight testing
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Investigation Board will be convened to probe cause and provide
details of mishap
MONROVIA, Calif.--(BUSINESS WIRE)--
AeroVironment,
Inc. (AV) (NASDAQ:AVAV) today announced that the Global
Observer unmanned air vehicle undergoing flight test envelope
expansion at Edwards Air Force Base (EAFB) in California experienced a
mishap at 2:30 am Pacific Daylight Time today, approximately 18 hours
into its ninth test flight. There are no reports of injury or damage to
other property.
"Flight testing an innovative new solution like Global Observer involves
pushing the frontiers of technology and convention," said Tim Conver,
AeroVironment chairman and chief executive officer. "Risk is a component
of every flight test program, and the learning that results from a
mishap enables us to improve system reliability and performance. One
benefit of testing an unmanned aircraft system is that pilots and crew
are not in harm's way when a mishap occurs."
Conver added, "We will work closely with the Investigation Board to
determine the cause of the mishap and once its findings are available we
will apply its recommendations to future activities. Global Observer
remains a compelling solution to important government and commercial
needs."
The joint U.S. government and AeroVironment Global Observer team was in
the process of expanding the flight envelope of the first air vehicle,
which had been operating for nearly twice the endurance and at a higher
altitude than previous flights when the mishap occurred. The second air
vehicle developed as part of the joint capability technology
demonstration (JCTD) program is nearly complete and remains at
AeroVironment's development facility.
AV received the contract for developing and demonstrating Global
Observer as a JCTD program in September 2007. Six U.S. government
agencies have provided more than $140 million in funding for the
program, most of which has been expended.
About AeroVironment, Inc. (AV)
AeroVironment is a technology solutions provider that designs, develops,
produces and supports an advanced portfolio of Unmanned
Aircraft Systems (UAS) and electric transportation solutions.
Agencies of the U.S. Department of Defense and allied military services
use the company's battery-powered, hand-launched
unmanned aircraft systems extensively to provide situational
awareness to tactical operating units through real-time, airborne
reconnaissance, surveillance and communication. Switchblade is a small
UAS designed to provide a rapid, lethal, pinpoint precision strike
capability with minimal collateral damage. AeroVironment's electric
transportation solutions include a comprehensive suite of electric
vehicle (EV) charging systems and installation services for
consumers, automakers, utilities and government agencies, power
cycling and test systems for EV developers and industrial
electric vehicle charging systems for commercial fleets. More
information about AeroVironment is available at www.avinc.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking
statements" as that term is defined in the Private Securities Litigation
Reform Act of 1995. These statements are made on the basis of current
expectations, forecasts and assumptions that involve risks and
uncertainties, including, but not limited to, economic, competitive,
governmental and technological factors outside of our control, that may
cause our business, strategy or actual results to differ materially from
those expressed or implied. Factors that could cause actual results to
differ materially from the forward-looking statements include, but are
not limited to, our ability to perform under existing contracts and
obtain additional contracts; changes in the regulatory environment; the
activities of competitors; failure of the markets in which we operate to
grow; failure to expand into new markets; failure to develop new
products or integrate new technology with current products; and general
economic and business conditions in the United States and elsewhere in
the world. For a further list and description of such risks and
uncertainties, see the reports we file with the Securities and Exchange
Commission. We do not intend, and undertake no obligation, to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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AeroVironment, Inc.
Steven Gitlin
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For
AeroVironment, Inc.
Mark Boyer
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Source: AeroVironment, Inc.
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