Archer Aviation has raised an additional $850 million following an executive order passed by US President Donald Trump to implement an electrical vertical takeoff and landing (eVTOL) aircraft integration pilot program in the US.
This program is focused on accelerating the deployment of eVTOL aircraft in the US, with the White House stating that the order will create a “pilot program testing flying cars”. The program will be focused on air taxis, cargo, defence logistics, and emergency medical services.
Archer said it intends to “closely coordinate” with the White House, US Department of Transportation and the Federal Aviation Administration (FAA) on how this can integrate into Archer’s plans to ramp its operations in the US, ahead of the 2028 Olympic Games in Los Angeles, at which Archer will serve as the Official Air Taxi Provider of the Olympics.
Adam Goldstein, CEO and founder of Archer, commented: “This executive order is a seminal moment for Archer and the eVTOL industry. We now have the strongest balance sheet in the sector and the resources we need to execute both here in the US and abroad.”
Archer said the net proceeds from this offering will be used for general corporate purposes, with a focus on the build out of Archer’s commercial capabilities, including infrastructure to support broader company initiatives.
The company stated that the new capital has strengthened its balance sheet, noting a a pro forma liquidity of approximately $2bn.
Moelis & Company is acting as the exclusive placement agent in connection with this offering.