September 30, 2022
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Aerovironment announces joint venture to develop aircraft

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Aerovironment, an unmanned aircraft systems producer with operations in Simi Valley, announced Jan. 3 that it would develop a solar powered commercial-size UAS as part of a $65 million joint venture. Aerovironment will contribute $5 million in capital for a 5 percent ownership stake, with the option to increase its stake up to 19 percent…

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