Posted September 03 , 2021
REEF Technology has unused flat rooftops. Archer Aviation has electric mini-helicopters. Together, they might have something.
The two firms are partnering to run Archer’s proposed air taxis from REEF’s parking garages in Miami and Los Angeles.
The partners aim to launch air taxi service from REEF garage rooftops by 2024, according to the Commercial Observer. Archer is still negotiating with the Federal Aviation Administration to get its aircraft into service.
The deal will give Archer access to “largely dormant rooftop sites across some of the most densely populated and heavily congested urban city locations in the US,” starting with Miami and L.A., a press release said.
REEF is coming off a huge year and has been in expansion mode. The company’s SoftBank-led $700 million fundraising round last year was the largest of any company in 2020 by far. Late last year, REEF partnered with Oaktree on a $300 million investment vehicle.
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