TOKYO, March 16, 2023 (Global News Agency) — AERWINS Technologies Inc. (Nasdaq: AWIN) (“AERWINS” or the “Company”)the developer and manufacturer of the air mobility platform COSMOS (Centralized Operating System for Managing Open Skies) and the XTURISMO limited-edition hoverbike, announced today that it has conducted an air show for the government and government entities of the United Arab Emirates (“UAE”).
The flight demonstration was conducted in conjunction with AERWINS’ strategic partner, Vault Investments LLC, and Bayanat, an Abu Dhabi-based provider of artificial intelligence geospatial solutions. From March 8 to 12, 2023, flight demonstrations and flight training for government agencies will be conducted in an open and closed environment. On March 13, 2023, another flight demonstration was held for VIPs in the Yas Gulf area of Abu Dhabi as an unveiling event. In addition to infrastructure-free transportation, AERWINS is also considering introducing border security and desert survival systems, among others. As a concrete example of XTURISMO in action, AERWINS also demonstrated a system that can take off quickly and share information about its surroundings in real time using on-board cameras.
“Over the past year, we have been in discussions with our partners, the Lootah family, to introduce XTURISMO to the UAE market, as well as a capital business alliance with a UAE state-owned company. We have also been coordinating its manufacturing, production and delivery Necessary arrangements,” said AERWINS Chairman and CEO Shuhei Komatsu. “As a result of these efforts, we would like to thank all parties involved for their successful performance. Going forward, we plan to offer a software package consisting of XTURISMO and COSMOS*, a UAV and air mobility control Social implementation. In addition, we will continue to work hard to demonstrate a variety of infrastructure-free mobility models that can be applied in various environments.”
“The show went very well and proved that XTURISMO is an excellent product that is moving towards a new generation of transportation,” said Sultan Lootah, CEO of Vault Investments LLC. objectives. COSMOS*, the software used to control XTURISMO, has also proven to be a suitable navigation tool without any risk of air traffic disruption and nuisance.”
joint venture, to be based on joint venture agreement AERWINS’ wholly owned subsidiaries, Vault Investments LLC and ALI Technologies Inc, will manufacture, produce and deliver vehicles in the UAE, while expanding sales to government agencies and corporations.
XTURISMO limited edition developed by AERWINS. It is the embodiment of the dream of air mobility, dedicated to creating a new way of experiencing the world, allowing users to feel the joy and joy of moving freely in space. The company believes it has a wide range of practical possibilities in Japan and overseas, including for disaster relief, infrastructure inspections and entertainment.
The XTURISMO limited edition will be unveiled at Fuji Speedway in October 2021 and orders are now being accepted. The XTURISMO limited edition will also take part in the Detroit Auto Show in September 2022.
Information about XTURISMO
Official website: https://aerwins.us/xturismo/
ABOUT AERWINS TECHNOLOGIES
With a mission statement to change society from the top down, AERWINS Technologies has developed and launched the air mobility platform COSMOS* and the XTURISMO limited edition Hoverbike. AERWINS will continue to innovate, without being bound by existing ideas, to develop and deploy the systems necessary to realize an air mobility society.For more information, please visit https://aerwins.us/.
*COSMOS: Centralized operating system for managing Open Sky
About Vault Investment LLC
Lootah established Vault Investments LLC in 2012; one of the most dynamic, interconnected, technology-oriented and innovative investment and advisory firms in Dubai. Vault Investments holds a portfolio of companies valued at over US$500 million, with a diversified business presence in technology, retail, commerce, real assets and trading, with operations in the GCC, India, Egypt, Asia Pacific and Europe.
The Lootah is a family, belonging to the Al Bu Humeir tribe, who migrated from Abu Dhabi to Dubai and took the name Lootah. Its ancestors lived in Dubai for 200 years before moving to Ajman due to livelihood needs. The Lootah family was involved in the pearl and gold trade as well as real estate. After their return to Dubai in the 1940s, the family took up construction. Lootah has since ventured into various businesses such as Banking (launched Dubai Islamic Bank), Manufacturing, Food & Beverages, Food Processing (Al Islami Foods), Oil & Gas, always keeping an eye on new areas of investment. The family has well-known and prominent members who have great influence in the government and private sectors and always work for the good of the country. Sultan Lootah is currently the CEO of Vault Investments LLC. Sultan Lootah grew up in a business family and holds an MBA in Strategic Management, degrees in Technology and Public Policy, and 23 years of experience in the public and private sectors where he has led various government initiatives and creative, diverse and successful enterprise.
Bayanat, an ADX-listed public company majority-owned by G42, provides comprehensive world-class AI-powered geospatial solutions to a growing number of industries including defense, environment, energy and resources, smart cities and transportation. Its products include topographic, hydrographic and aerial products and charts, as well as spatial data measurement, analysis, management, modeling, visualization and cartographic services. Bayanat’s solutions leverage vast amounts of high-quality and unique data from a variety of sources, including satellites, high-altitude pseudo-satellites (HAPS), and AI-powered Earth observations to drive geospatial intelligence (gIQ).
For more information, please visit: www.bayanat.ai
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Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond AERWINS’ control. Although AERWINS believes that these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to AERWINS as of the date of this press release. These forward-looking statements are based on current estimates and assumptions and are subject to various risks and uncertainties. Actual results may vary materially. AERWINS undertakes no obligation to update these statements after the date of this press release, whether as a result of new information, future events or otherwise, unless required by law.
John Yi or Thomas Thayer
Gateway Investor Relations