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The additional funds further support Archer’s liquidity position of approximately $2 billion in anticipation of Midnight’s commercialization.

Flight operations tested the composites-intensive aircraft’s VTOL and CTOL capabilities, important for its civil and defense operations.

Archer seeks to integrate air taxi support across LA through transporting LA28’s VIPs, fans and stakeholders to key venues.

Archer looks to enable passengers to travel from Manhattan to nearby airports in just 5-15 minutes via the Midnight eVTOL platform.

Since the launch of Archer Defense, the eVTOL company looks to develop its capabilities in composites and batteries, as well as ongoing commercialization of its Midnight platform.

A surge in defense spending, partnerships in hydrogen propulsion and new combat aircraft agreements, many backed by composites industry leaders, culminated the 55th Paris Air Show.

Tooling load-in is already underway ahead of the planned start of initial production beginning early 2025, while Stellantis and Archer work to finalize the exclusive contract agreement.

Over the last 8 months, Archer Aviation has completed a total of 402 test flights with its composites-intensive aircraft, adding to key milestones.

Archer Aviation has made several key announcements including additional secured equity capital, network plans in LA and updates to a contract with the U.S. Air Force.

This is Archer’s second full-scale eVTOL aircraft to achieve this milestone, critical to being able to carry commercially viable passenger payloads.