Explorer Aircraft, Inc.

Industry

Transportation

Company Type

Aircraft Manufacturing

Location

US

Size

$180 million

Investment Type

Equity

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Overview

Explorer Aircraft is an aircraft design and manufacturing company seeking $180 million of equity to obtain FAA certification and produce the next generation of utility, general aviation aircraft.

  • Proof of concept aircraft has over 500 hours of testing
  • State of the art replacement for current fleet of light piston, twin and single engine utility craft, whose average age is over 35 years
  • Technological advantages in structural integrity, payload, cruise speed and operating costs
  • Efficient wing and aerodynamics designed by John Roncz, the aerodynamicist of the Voyager aircraft, the Virgin-Atlantic Global Flyer and over 50 other high-performance aircraft.
  • A corrosion-proof composite structure airframe with a powerful turbine engine ready to accept new sources of power such as battery, hybrid, and hydrogen.
  • Model 500T carries 8 passengers or 3,200 lbs
  • Model 750T carries 16 passengers or 4,000 lbs
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Opportunity

  • Target market is the aged fleet of over 26,000 utility aircraft with a load capacity of about 4,000 lbs, passenger service of 9 to 13 people, cargo service to remote and/or austere landing zones.
  • Incumbent aircraft average age is 35 years
  • Economic useful life of current fleet is about 30 years
  • Competitors include Cessna Caravan/Grand Caravan, Mahindra Airvan, Pilatus PC-12, Cessna Stationair, Quest Kodiak, PAC 750XL
  • Proven market with low expected acceptance risk
  • Favorable trends in Regional Air Mobility create opportunity for organic growth

The Market and the Fleet

  • The market has been living off the existing fleet
  • These aged aircraft are at the end of their useful life and will need to be replaced

Regional Air Mobility

  • Uses infrastructure that already exists in order to transport people and goods using innovative aircraft
  • An alternative to mid-distance ground trips – provides accessibility that is dependable, efficient, and cost effective
  • 70% of all flights in the US use 0.6% of available airports (NASA Regional Air Mobility April 2021)
  • Apps like Airpool, and next generation aircraft, will make RAM possible

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Solution/Strategy

Explorer provides a modern, fuel efficient, all composite aircraft that should replace all direct competitors

  • Superior design and aerodynamics made possible by current advances in CFD (computational fluid dynamics)
  • Advanced carbon fiber structure for improved strength, safety, and corrosion-free structural longevity, for a service life of over 50 years
  • 20-25% better fuel economy lowering operating costs and reducing greenhouse gasses thanks to a low drag design and the latest in efficient turboprop engine power
  • An aviation platform that will be easily adaptable to hybrid and battery electric power as the technology develops
  • Designed from the outset to accommodate automation to achieve transport category safety with or without a pilot
  • Explorer requires no new systems or infrastructure to support Regional Air Mobility markets

Key Advantages

  • Impactful, incremental improvements on existing designs – drag, weight, capacity and efficiency
  • Conventional aircraft – development program designed to work with the FAA certification process
  • Established market worldwide
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Management

Bryan E. Lynch

President and CEO

  • Led engineering and R&D at Surgimedics, Inc. Developed the autotransfusion system for Advanced Heamo Technology
  • Led R&D and sales at Komet Medical. Developed a line of powered bone-cutting tools for orthopedic and neurosurgery applications
  • Led international sales and marketing for MicroMed Technology – developer of the first axial flow left ventricular assist device as a technology transfer from NASA
  • Led sales, marketing and engineering for the DeBakey VAD – 2002 NASA Commercial Invention of the Year
  • Bachelor of Science in Mechanical Engineering from Texas Tech University. MBA from Texas Christian University
  • Active IFR rated pilot 45 years – flies a Cessna Turbo 210N

Charles W. Yeargain

CFO

  • 35 years of financial experience ranging from start-ups to large publicly traded corporations
  • Founder and VP Finance for Allied Riser Communications. Raised $750 million capital, managed purchasing, treasury, and risk management
  • Principal of Yeargain Companies, Inc., an investment and consulting firm specializing in oil and gas investments, debt settlements, loan restructures and commercial debt workouts
  • Bachelor of Business Administration in Finance and Computer Information Systems from Baylor University. Master of Business Administration in Finance and Investments from Baylor University

Richard Abbott

Advisor

  • 25 years of experience designed aircraft and life extension programs for Part 23, Part 25 and part 27 composite/metallic, civil and military manned aircraft and UAVs
  • Leadership positions at Diamond Aircraft, Stratos Aircraft, Samad Aerospace and Otto aviation
  • Consulted for Bombardier, Piper, Mooney, Boom, Glasair, Icon, Lilium, Marenco, ITPS, ALP & DeLorean Aerospace
  • Consulted to aerospace startup companies from initial development to transition into production
  • Authored “Analysis and Design of Composite and Metallic Flight Vehicle Structures” and hundreds of analysis spreadsheets used as standard analysis methods across the industry
  • Taught as associate professor at the University College of the Cayman Islands

Taras Lyssenko

Advisor

  • Government relations and business development consultant for defense, energy, aviation, medicine, and homeland security
  • Former lobbyist with the US Senate, House of Representatives, Department of Defense, Defense Advanced Research Projects Agency, US Department of Energy, and many corporations
  • Widely known for the recovery and preservation of historical artifacts that had been lost under water
  • Led R&D 100 Awards teams developing titanium production, natural gas production and next generation nuclear power

Chester Schickling  

VP Sales and Marketing

  • Manager of international marketing, airline marketing and general aviation sales at Beech Aircraft Corporation
  • Developed a backlog order book of $962 million at Sino Swearingen Aircraft
  • Former VP sales and marketing with M7 Aerospace. Created annual gross revenues of $400 million
  • Developed sales at Standard Aero ($110 million) and CASA Aircraft USA ($70 million in 12 months)
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Learn More About This Transaction

CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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