Sea Technology Magazine
Flying Ships: Autonomous Wing-in-Ground Effect Vessels Coming to Market (Pages 27-30)
Flying Ship Technologies, Corp.
Future of Maritime Transportation
Leesburg, VA
Transportation
Clean Technology
Flying Ship Technologies, Corp., is building unmanned, autonomous, green wing-in-ground-effect vessels to deliver goods efficiently to hard-to-reach destinations. Combining green technologies and 21st century aerodynamics dramatically decreases vessel cost, improves energy efficiency and eliminates greenhouse gas emissions.
$177,162
raised
194
Investors
$100M
Valuation
$11.11
Price per Share
$111.10
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
0
Days Left
This offering ended on June 28, 2022 and is no longer accepting investments.
Reasons to Invest
Eco-friendly innovation: Flying Ship Technologies, Corp. is the only company offering autonomous, green ground effect vessels.
Proven market interest: The global logistics market is growing at a 6.5% CAGR and will reach almost $13 trillion in annual revenue by 2027.
Cost-effective: The Flying Ships will deliver goods significantly faster than boats at a quarter the cost of airplanes.
*$13 trillion 2027 revenue (source)
The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product. The Company's Chief Executive Officer and Chief Operating Officer both currently each have their own private consulting LLCs. At this time, their primary sources of income come from these businesses and they dedicate approximately 60% of their time to Flying Ship. Both executives plan to focus 100% of their time on Flying Ship once the company receives additional funding.
OVERVIEW
Delivering expensive freight to difficult locations with aero-marine hybrid technology
Flying Ship Technologies, Corp. is creating unmanned maritime shipping vehicles. Using technology harnessing the aerodynamic principle of ground effect and artificial intelligence, the ships travel on a cushion of air just over the water. These Flying Ships are classified as maritime wing-in-ground effect vessels rather than airplanes.
The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
These revolutionary, all-electric vessels enable shippers to deliver goods to hard to reach locations utilizing a flexible distributed logistics network, rather than being restricted by a legacy spoke-and-hub model. Within the next three years, zero-emission Flying Ships are on track to provide access to countless delivery points significantly faster than ships and with lower operating costs than aircraft.
The above are estimates based on the company's knowledge. The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
THE PROBLEM
Delivering goods overseas is expensive and inefficient
Trying to ship equipment, food, or medicine from the United States to the Bahamas is either expensive or slow. Shipping goods currently relies on planes, trucks, boats and trains, all of which give off CO2 emissions and are limited to fixed infrastructure. Huge increases in demand for shipping will only increase pollution and congestion on existing infrastructure.
THE SOLUTION
A new mode of cargo transportation that’s cost-effective and eco-friendly
Flying Ships provides a less expensive, more flexible, green alternative for delivering cargo to traditional ports and hard-to-reach locations. Our revolutionary vessels optimize fast and inexpensive delivery of goods and enable shippers to utilize a flexible distributed logistics network, rather than being restricted by a legacy spoke-and-hub model.
The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
The first generation of all-electric Flying Ships will be approximately thirty-six feet long and will operate within the maritime domain for commercial markets. The vessel will dock using existing marinas, beaches, and boat ramps to efficiently deliver goods. The maximum payload will be approximately 2,500 pounds and the vessel will have a range of more than 300 nautical miles. The first-generation Flying Ships will be semi-autonomous and next-generation models will be fully autonomous. We plan to build larger versions so we can ship 85 tons across 7,000 nautical miles for global transport using alternative green propulsion systems.
The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
Global logistics companies and government agencies are actively engaged with Flying Ship Technologies, Corp. to purchase these revolutionary vehicles to enhance their logistics capabilities.
The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
THE MARKET
Disrupting a $13 trillion market
The logistics market has seen a surge in the need for time-critical, price-sensitive goods. The cargo/logistics market is growing at a compound annual growth rate of 6.5% CAGR and will reach almost $13 trillion in annual revenue by 2027.
The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
We believe Flying Ship Technologies, Corp. is the only company offering autonomous, green, maritime ground effect vessels to address significant demand growth in the logistics industry. One company, Elroy Air, has received $50 million in investment to develop an autonomous, hybrid-electric vertical takeoff and landing drone with a maximum range of 300 miles and a payload of 300-500 pounds for rural delivery. This clearly indicates strong interest in emerging technologies for medium-range, medium-payload applications.
Unlike Flying Ships, their product is designed to operate over land in the airspace system under more stringent FAA regulations, increasing costs and potential certification delays. Other companies are working in adjacent markets — primarily in the piloted passenger market segment.
OUR TRACTION
Multiple patents filed; major strategic partnerships secured
We’ve filed three utility patents for our designs and we’ve executed several agreements for strategic partnerships, including a memorandum of understanding on a potential joint venture in Greece. We’ve developed two working ground effect vessels.
We’ve used a ⅙ scale functioning demonstration vessel to test and validate sensor systems to be used in the commercial product and raise our Technology Readiness Level to 5. We are on track to deliver the first Flying Ship to a commercial customer within the next three years.
The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
WHY INVEST
Support a green global logistics network
Join us to create a faster, more flexible, green global logistics network that will enhance access to coastal locations around the world.The Company is currently in the early development stage and developing its prototype product. Flying Ship products are not yet available on the market. These images are computer-generated demo versions of the product.
In the Press
Aviation Week
New RFI Revives DARPA Interest In Wing-In-Ground-Effect Vehicles
Aviation Week
Advanced Air Mobility Emerging As A Multifaceted Industry
Aviation Week
European Customer Signs For Cargo Ekranoplans
ASSEMBLY Magazine
Nature Inspires Wing-in-Ground-Effect Aircraft
Virginia Economic Review Fourth Quarter 2021
Unmanned Vehicles Poised for Impact Beyond Package Delivery
CNN
The 'Caspian Sea Monster' rises from the grave
Offering Summary
Company | : | Flying Ship Technologies, Corp. |
Corporate Address | : | 15 E. Market St, Suite 615, Leesburg, VA 20175 |
Offering Minimum | : | $9,999.00 |
Offering Maximum | : | $1,069,992.99 |
Minimum Investment Amount(per investor) | : | $111.10 |
Terms
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 900 |
Maximum Number of Shares Offered | : | 96,309 |
Price per Share | : | $11.11 |
Pre-Money Valuation | : | $99,990,000.00 |
*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.
Voting Rights of Securities Sold in this Offering
Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.
Investment Incentives and Bonuses*
Time-Based Perks
Invest in the first 5 days, get 20% bonus shares
Invest in the next 5 days, get 15% bonus shares
Invest in the first month, get 10% bonus shares
Amount Based Perks
Invest $1,000 and receive 2% in bonus shares
Invest $2,500 and receive 4% in bonus shares
Invest $5,000 and receive 6% in bonus shares
Invest $10,000 and receive 8% in bonus shares
Invest $50,000 and receive 10% in bonus shares
*All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Flying Ship Technologies, Corp. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.
This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $11.11 / share, you will receive 110 Common Stock, meaning you'll own 110 shares for $1111. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% Bonus is only valid during the investor's eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Irregular Use of Proceeds
We will not incur any irregular use of proceeds.
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Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Final Minutes
about 2 months agoCounting down the final minutes for you to own part of the future of maritime transportation.
See this NewsBreak contributor's summary of the opportunity:
Final hours to invest in Flying Ship Technologies, Corp.
about 2 months agoFriends,
We have nearly reached the end of our crowdfunding campaign on StartEngine. The campaign will close, Sunday, June 26 at midnight. This is your final chance to increase your share or jump in on the ground floor. Don't miss this incredible opportunity!
To those of you who share our vision and believe in us, thank you very much! Your financial contributions will take us far towards commercializing Flying Ships.
Please join us by clicking the Start Investing link before noon tomorrow to invest before the deadline.
We want to leave you with a few final links that highlight Flying Ships revolutionary maritime capabilities.
Read the CNN article about ground effect vehicles that featured Flying Ships:
https://www.cnn.com/travel/article/caspian-sea-monster-ekranoplan/index.html
And, see the video that Supercar Blondie, a social media star, recently published about Flying Ships:
Just Two Days Left: Aviation Week focused on Flying Ship as the Future of Maritime Transportation
about 2 months agoThere's still time to invest, but the opportunity ends in just 48 hours! The most reliable source for aerospace news, Aviation Week, published a revealing article about Flying Ship's global strategy. Europe and Asia are the most forward-leaning markets for unmanned ground effect vehicles so we are thrilled to kick off in those regions! Are you ready to kick off with us?
Counting down in 3...2...1: PICTURE OF THE WEEK: “FLYING SHIP” OVER ASHBURN’S BEAVERDAM RESERVOIR
about 2 months agoWhile our campaign is going to an end in just three days, we're ramping up thanks to our investors!
We LOVE the LOVE we receive from our regional press. Flying Ship got a virtual fist bump from The Burn by featuring our Flying Ship on the home page of the website—always a great source for local happenings.