<p><strong>SANTA CLARA &#8212; </strong>Defense company Anduril is partnering with Archer in an exclusive partnership to jointly develop a hybrid Vertical Take Off and Landing (VTOL) aircraft for critical defense applications targeting a potential program of record from the Department of Defense (DOD).</p>
<p>With Archer’s ability to rapidly develop advanced VTOL aircraft using existing commercial parts and supply chains and Anduril&#8217;s deep expertise in artificial intelligence, missionization, and systems integration, the partnership will accelerate speed to market for critical hybrid VTOL capabilities at a fraction of the cost of more traditional alternatives.</p>
<p>Archer’s efforts on this project will be part of its new Archer Defense program. To support this initiative and for other general corporate purposes, Archer raised $430 million in additional equity capital, with participation from<strong> </strong>Stellantis, United Airlines, and new institutional investors, including Wellington Management and Abu Dhabi investment holding company 2PointZero, a subsidiary of UAE’S largest listed entity, IHC. Archer ended Q3’24 with $502M of cash and cash equivalents on its balance sheet and this raise brings Archer’s total capital raised to nearly $2B to date. Following this capital raise, and together with Archer&#8217;s other announced financing arrangements, Archer believes it is now well-positioned with one of the sector&#8217;s leading balance sheets with no near-term financing needs.</p>
<p>&#8220;Rapid innovation and scalable production are critical for maintaining technological superiority,&#8221; said Shane Arnott, SVP of Engineering at Anduril. &#8220;Anduril and Archer share a common vision for advancing capabilities that meet urgent national security needs, and we look forward to partnering with Archer to bring advanced vertical lift aircraft to our customers.&#8221;</p>
<p>Adam Goldstein, founder and CEO of Archer, said, “The Archer team has deep expertise in the rapid design, engineering, and production of next-generation vertical-lift aircraft. With Anduril by our side, and this new influx of capital, we will accelerate the development and deployment of advanced aerospace technologies at scale.”</p>
<p>Archer Defense will be led by its Head of Advanced Projects, Joseph Pantalone. Mr. Pantalone recently joined Archer and is a seasoned leader in military aviation with nearly 30 years of experience at Lockheed Martin and Sikorsky. He will draw from the continued support of Archer’s world-class Defense Advisory Board, which was formed in May of 2023 and is made up of highly decorated and distinguished retired military leaders.</p>

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