ASX Launches Seed Funding Effort to Build Urban eVTOL

Effort represents another alternative for better urban transportation.

ASX MOBi-One Urban eVTOL
ASX says 2,500 MOBi-Ones could be flying by 2025.Courtesy ASX

Imagine a cleaner, faster and affordable transportation alternative for people living in congested urban areas. While this might sound like the same pitch made by dozens of other companies, Detroit-based Aviation Experience Technologies (ASX) just announced a campaign to raise seed money for full-scale eVTOL development, testing, and certification of an electric vertical takeoff and landing tilt-wing (eVTOL) aircraft affectionately dubbed MOBi-One. The effort will support Uber Technologies Urban Air Mobility program, UberAir and aims to produce and operate fleets of safe and reliable aircraft that will make smart cities even smarter, vastly reduce commute times and all while producing zero operational emissions .

ASX is also launching a side-by-side Regulation CF and Regulation D Series Seed funding campaign with its partner SeedInvest, a leading equity crowdfunding platform that offers its network of investors vetted investment opportunities. Proceeds of the seed round will be used to acquire key automotive EV technology, build a series of full-scale prototype and initiate FAA certification.

The company plans to deliver 2,500 aircraft by 2025, with cargo deliveries starting in 2023 and passenger service by 2024. Based on a recent study, the company says, traffic congestion cost Americans nearly $87 billion in 2018 or an average of $1,348 per driver. The solution is elevating commuters to the sky with electric vertical take-off and landing aircraft.

Equipped with proven zero-emission electric propulsion and broadband 'V2X' vehicle-to-vehicle connectivity, a fully-electric MOBi-One will deliver an estimated range of 100 miles and a cruising speed of 150 mph, giving it the ability to reduce a 60 minute commute to 15 minutes or less for the price of a ground vehicle for hire (one pilot, four passengers). With a hybrid propulsion system, MOBi-One is capable of up to 300 miles of range for regional travel and cargo utilizing the nation's general aviation airports.

ASX has built and flight-tested five subscale concept vehicles, and achieved a major milestone in the fourth quarter of 2018 by optimizing controls and demonstrating vertical and plane mode flight. ASX is now ready to begin the full-scale production design and commercial certification process for MOBi-One.