I’ve occasionally posted here over the years about the Martin Jetpack company in New Zealand. The company has grown from a garage project into a company now valued at around $250M on the NZ stock exchange. The Jetpack, which actually flies via gasoline engine driven twin ducted fans, will go on sale in 2016 starting with a focus on the emergency first responder market.

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This week at the Paris Airshow, the company announced the signing of four different agreements:

The agreements include:

  • An agreement with Beijing Flying Man Science & Technology Ltd involves the parties working towards the future delivery of a Martin Aircraft package with an initial tranche of 100 manned Jetpacks, 50 unmanned Jetpacks, 25 static models and 25 simulators. It is noted that at this stage the agreement is a strategic co-operation agreement and any sales are dependent upon a successful supply agreement.
  • An agreement with Beijing Voyage Investment Ltd a subsidiary company of well-known Chinese-based AVIC International Holdings Ltd for the intended future delivery of manned and unmanned Jetpacks, simulators, and static models.
  • An alliance agreement with Czech Republic-based Martin Aircraft Company s.r.o. to establish a European sales centre for the Martin Jetpack.
  • An alliance agreement with New Delhi based M2K Group Ltd to establish a regional sales presents in commercially important India market.

The signing ceremony was witnessed by senior government representatives of New Zealand, China, India and the Czech Republic, along with the Chair of Martin Aircraft, Mr Jon Mayson, Chairman of KuangChi Science and Martin Aircraft Director Dr Ruopeng Liu, and Chief Executive Officer/Managing Director of Martin Aircraft, Mr Peter Coker.

Here is a promotional video from the company highlighting the use of the Jetpack for emergency services:

And this video gives the story of how the company raised money and eventually had a successful IPO: