NZ based Martin Aircraft Company, which has developed the world’s first practical and commercial jetpack, will launch its pre-IPO capital raising in Sydney next week.
Martin Aircraft Company CEO Peter Coker will be in Sydney to present at two information sessions which are intended to provide interested investors a chance to learn more about the Jetpack technology, plans for commercialisation and the IPO.
Reuben Buchanan from Axstra Capital has been appointed as advisor to Martin Aircraft Company and is managing the pre-IPO raising.
The Jetpack is powered by a V4 200hp engine driving two ducted fans, has been flown to a height of 5,000 feet and can reach speeds of up to 74km/h.
This personal aircraft will be the basis for the first commercial release of a Jetpack in 2014, suitable for a Government and Agency market under the banner of “first responder” to service markets such as the fire service, search & rescue, disaster recovery and border security.
According to the company, it also has potential commercial and industrial uses, such as in the mining, energy, and agricultural sectors.