LA Business Journal: New Heights for Drones?

January 22, 2018

AeroViroment Inc. opened 2018 with plans to build a drone that flies higher and longer than any it has built before – a solar-powered plane that could soar in the upper atmosphere for weeks or months at a time and carry a load of telecommunications transmitters.

The company laid out its latest goals as part of a Jan. 3 announcement of a joint venture with Tokyo-based telecommunications giant SoftBank Corp., called HAPSMobile Inc. The new partners will join an ambitious field of projects – including a flying-wing in the works at Facebook Inc. and a balloon-based experiment by Alphabet Inc. – that aim to lift telecommunications transmitters up to 65,000 feet above sea level in order to grab a piece of the broadband market in developing countries.

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About AeroVironment, Inc. (AV)

AeroVironment (NASDAQ: AVAV) provides customers with more actionable intelligence so they can proceed with certainty. Based in California, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information visit www.avinc.com.


Safe Harbor Statement

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.


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Contact:
AeroVironment, Inc.
Steven Gitlin
+1 (626) 357-9983
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Mark Boyer
For AeroVironment, Inc.
+1 (310) 229-5956
.(JavaScript must be enabled to view this email address)