January 3, 2018 / 2:27 PM / 2 months ago

BRIEF-Aerovironment Announces Joint Venture And Solar High-Altitude Unmanned Aircraft System Development Program

Jan 3 (Reuters) - Aerovironment Inc:

* AEROVIRONMENT ANNOUNCES JOINT VENTURE AND SOLAR HIGH-ALTITUDE LONG-ENDURANCE UNMANNED AIRCRAFT SYSTEM DEVELOPMENT PROGRAM

* AEROVIRONMENT INC - ‍FORMATION OF JV TO DEVELOP SOLAR-POWERED HIGH-ALTITUDE LONG-ENDURANCE, OR HALE, UAS FOR COMMERCIAL OPERATIONS​

* AEROVIRONMENT SAYS JV WILL FUND DEVELOPMENT PROGRAM UP TO NET MAXIMUM VALUE OF $65 MILLION

* AEROVIRONMENT INC - CO COMMITTED TO CONTRIBUTE $5 MILLION IN CAPITAL FOR ITS 5 PERCENT OWNERSHIP OF JOINT VENTURE

* AEROVIRONMENT SAYS HAS OPTION TO INCREASE OWNERSHIP STAKE IN JV UP TO 19 PERCENT

* AEROVIRONMENT- SOFTBANK, CO AGREED TO LICENSE CERTAIN BACKGROUND INTELLECTUAL PROPERTIES TO HAPSMOBILE

* AEROVIRONMENT-UNDER DEAL WITH SOFTBANK, CO WILL GET EXCLUSIVE RIGHTS TO INTELLECTUAL PROPERTY FOR CERTAIN NON-COMMERCIAL APPLICATIONS, EXCEPT IN JAPAN

* AEROVIRONMENT - ALSO POSSESSES EXCLUSIVE RIGHTS TO DESIGN, MANUFACTURE ALL AIRCRAFT IN FUTURE FOR HAPSMOBILE, SUBJECT TO TERMS OF JV AGREEMENT Source text for Eikon: Further company coverage:

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