AIBot has received a $15 million grant from the California Competes grant programme of the California Governor's Office of Business and Economic Development (GO-Biz).
Co-founder and executive chairman Jerry Wang says: "We are deeply grateful for this significant CalCompetes grant from the State of California. Receiving this grant is a powerful endorsement of our mission and potential. We're ready to utilise this opportunity to fortify our role as an ultra-high-tech leader in the advanced air mobility sector, making substantial contributions to California's economy and job market."
This year, GO-Biz received over $1.8 billion in grant requests for the $120 million in grants available through the California Competes programme, which aims to bolster job creation and economic development by supporting innovative companies looking to expand or establish their presence in California. As one of only eight recipients awarded, two of which were eVTOL companies, the other being Joby, AIBot's selection underscores the importance of eVTOL technology in driving California's commitment to innovation and sustainability. The grant not only demonstrates the state's vision of being a leader in the AAM sector, but also affirms its dedication to fostering cutting-edge industries that promise a more sustainable and technologically advanced future.
“Advanced air mobility is an industry of the future, and we want to ensure California remains a leader in that industry. We look forward to AIBot's success as it builds out its company and continues to grow its presence across California,” says Dee Dee Myers, senior advisor to GO-Biz director governor Newsom.
The grant is a testament to the company's role in advancing aerial mobility in California, with plans to create 697 new full-time jobs and to invest $494 million over the next five years. Centralising operations in California, particularly in Long Beach and Mojave, the grant will enhance AIBot's R&D capabilities, flight testing and manufacturing. The strategic alignment of flight testing with prototyping and manufacturing facilities is a key component of the company's approach, and this integration will accelerate development of advanced artificial intelligence software and AI-defined autonomous electric aircraft.
Wang adds: "The grant will allow AIBot to bring its flight testing and manufacturing to California while enabling fast-tracking of the production of our first commercialised aiEVTOL product, which includes local investment to build manufacturing facilities and create numerous job opportunities. This endorsement by GO-Biz is an affirmation of the confidence placed in AIBot's vision, our technological prowess and our growth strategy in California."
In early 2024, AIBot is set to host an exclusive company debut at its Long Beach headquarters, where it will introduce its technology, products and comprehensive business plan. This will set the stage for the unveiling later in the year of its first commercial unmanned aiEVTOL aircraft.
AIBot is actively expanding its team, seeking passionate individuals who are eager to contribute to a revolutionary shift in air mobility.