Quickstep has announced a new manufacturing partnership with Swoop Aero. Quickstep will supply Swoop Aero with engineering and manufacturing services, tooling and an initial production run of aircraft ship sets for their recently launched KITE unmanned cargo aircraft. The initial order value under the Strategic Supply Agreement (SSA) with Swoop Aero is approximately $1.5 million with a delivery period expected to run through to mid-2022. Swoop Aero has indicated that there is scope for Quickstep to potentially supply a much larger number of aircraft ship sets in the future, if demand meets their internal forecasts, and the SSA includes options for additional quantities.
Additionally, Quickstep has signed an agreement to invest $2 million in convertible notes which may convert into a minority stake in Kookaburra Aerospace Pty Ltd, the parent company of Swoop Aero. The $2 million investment commitment is expected to be paid partly in cash and partly as a credit against invoices under the Strategic Supply Agreement for delivery of aircraft, design and engineering services and tooling. The cash payment of $500,000 is payable immediately from Quickstep’s operating cash flow. The remaining $1.5 million will be provided as a credit against purchase order(s) under the Strategic Supply Agreement.
Mark Burgess, CEO of Quickstep, said, “we are delighted to be partnering with a purpose-driven organisation like Swoop Aero. They are developing world-leading technology and infrastructure to deliver a revolution in drone-based logistics that will positively impact large sections of humanity. This relationship allows us to leverage the very best of Australian advanced manufacturing, software development and ingenuity and take it to the world.”
“Our organisation is Australian made and grown, so our strategic supplier-operator collaboration with Quickstep maintains our dedicated trajectory to keep our innovation and manufacturing local, driving outcomes for Australian industry which in turn is delivering impact across the globe” said Swoop Aero’s CEO and co-founder Eric Peck. “With demand for our services increasing worldwide, this strategic partnership will further support the growth targets for our manufacturing capability. Thanks to Quickstep, we can guarantee that our manufacturing team can meet the increased demand for our aircraft, with up to 1,000 aircraft already planned for manufacture in 2022” Peck added.
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