Elroy Air appoints Andrew Clare as CEO, secures additional funding
The company’s founding CEO David Merrill will become Executive Chairman.
(From left): Andrew Clare, CEO and David Merrill, Executive Chairman, Elroy Air
Elroy Air has appointed Andrew Clare as the new Chief Executive Officer to lead the company in its next phase of scaling its hybrid-electric, vertical takeoff and landing (hVTOL) aircraft Chaparral.
The company has also completed the first close of additional funding to accelerate the productisation of Chaparral, designed to carry 300 pounds over a range of 300 miles, says an official release. "The round was led by Marlinspike Partners, with participation from Shield Capital, Snowpoint, Lockheed Martin Ventures, Milano Investment Partners, DiamondStream Partners and Levitate Capital."
Clare says: "The moment is right to grow a business in autonomous aircraft - the core technical challenges can be solved, the supply chain is maturing, defence and commercial customer demand is growing, and the regulatory frameworks are coming into place to integrate Unmanned Aerial Systems (UAS) into the airspace safely. Elroy Air has differentiated technology, a world-class team and passionate customers hungry for this product. The recent capital infusion by our investors is a sign of their confidence in the emphatic market demand for this product and our pathway forward. I am excited for what’s ahead and honoured to be part of this extraordinary team."
The company’s founding CEO David Merrill will become Executive Chairman, the release added.
The company recently flew the Chaparral aircraft at the U.S. Army’s Yuma Proving Ground as part of the Marine Corps MARV-EL programme, showcasing the Chaparral's ability to operate in demanding environmental conditions and serving the US Military for contested logistics use cases, the release added.
