AERWINS Technologies Completes SPAC, Trades on NASDAQ

Japan-based, Aer­wins Tech­nolo­gies, best known for its devel­op­ment of the Xtur­is­mo Lim­it­ed Edi­tion Hov­er­bike, announced this week it has suc­cess­ful­ly merged with Hawaii-based, Pono Cap­i­tal, to form a SPAC (Spe­cial Pur­pose Acqui­si­tion Com­pa­ny) and is now trad­ing on the U.S Nas­daq, reports a press release. Aer­wins is also the devel­op­er and man­u­fac­tur­er of air mobil­i­ty plat­form, C.O.S.M.O.S (Cen­tralised Oper­at­ing Sys­tem for Man­ag­ing Open Sky).

The new Aer­wins com­pa­ny is trad­ing under the tick­er sym­bol AWIN with a val­u­a­tion of USD600 mil­lion. The merg­er was approved by the company’s share­hold­ers on Jan­u­ary 27th. This will be the first Japan­ese eVTOL-relat­ed com­pa­ny to be list­ed on the index.

Shuhei Komat­su, Aer­wins Chair­man and CEO, com­ment­ed, “Japan was a man­u­fac­tur­ing coun­try for so many years. Pre­ci­sion is root­ed and based in Japan­ese cul­ture. I under­stand it is a big respon­si­bil­i­ty to talk about these ideals, but we will con­tin­ue to pur­sue the pos­si­bil­i­ty of new mobil­i­ty with the Japan­ese cul­ture-cen­tric mind­set on our path to becom­ing a glob­al com­pa­ny.”

Dustin Shin­do, Chair­man and CEO of Pono Cap­i­tal, added, ”The list­ing of Aer­wins on the Nas­daq through our merg­er is a major mile­stone for suc­cess­ful and promis­ing Japan­ese-based com­pa­nies. It has been the belief of the Pono Cap­i­tal team that a U.S SPAC, togeth­er with the right con­nec­tions in Japan, could bring new oppor­tu­ni­ties and unlock val­ue.”

So what is the Xtur­is­mo Lim­it­ed Edi­tion Hov­er­bike, the company’s best-known prod­uct?

The web­site states, “Bring­ing Sci­ence Fic­tion to Reality/Life. Imag­ine a world where humans have free reign over the skies. Sure­ly, life would be more free! Expe­ri­ence the world like nev­er before. Pio­neer the next gen­er­a­tion of trans­port. Xtur­is­mo was cre­at­ed with this in mind. A new jour­ney begins…”

As always with such fan­ci­ful ideas there is a thin line between real­i­ty and sci­ence fic­tion, but can the two meet, when air reg­u­la­tors stand in the way? Please click on the links below to gain a bet­ter flavour of the craft.

https://aerwins.us/xturismo/

https://aerwins.us/news/aerwins-technologies-inc-conducts-initial-flyover-of-xturismo-limited-edition-over-lake-yamanaka-yamanashi-pref-japan/

The cost of the Hov­er­bike is USD555,000. It comes in three colours red, blue and black; has a max­i­mum speed of 100 km and a cruis­ing range of 40 km; is 3.7m in length and weighs 300 kg.

Orders for the Hov­er­bike are being tak­en. It is unclear when the pub­lic will receive one and if and when they can fly it. Train­ing cours­es are being set up. Pre­sum­ably, if the all-clear is giv­en, only at first, over pri­vate land where the Hov­er­bikes could be used as an air equiv­a­lent to a quad bike, for exam­ple. At present, there are many more ques­tions than answers.

Mean­while, Aer­wins has anoth­er busi­ness called C.O.S.M.O.S, a flight oper­a­tion man­age­ment sys­tem aimed to ensure the safe­ty of air­ways, when increas­ing num­bers of unmanned air­craft like deliv­ery drones make use of the low­er air­space. Again, it is unclear how far this busi­ness has pro­ceed­ed.

This is an extreme­ly risky share and one to avoid, cer­tain­ly, for now.

For more infor­ma­tion

http://aerwins.us/

(Images: Aer­wins)