Development of "Green" Self-Charging Electric Plane with Range of 500 Miles Gets Boost as Bristow Group Joins Forces with Electra.aero

Bristow Group Inc., the world's leading global provider of vertical flight solutions to government and civil organizations, and Electra.aero, Inc. a pioneering developer of clean and efficient aviation technology solutions, today announced they have signed a Memorandum of Understanding (MOU) to pursue a Joint Development Agreement (JDA) and Purchase Agreement under which the two firms will cooperate on the technical development and certification, as well as marketing and future operations of Electra's hybrid-electric short take-off and landing (eSTOL) aircraft, with an expected volume of 50 aircraft.

The two companies will collaborate on developing a full range of safety and operational features to ensure the new eSTOL aircraft's final configuration, specifications and design features meet customer as well as FAA, EASA and Transport Canada certification and timeline requirements. The companies will also explore new markets for Bristow operations utilizing the Electra eSTOL aircraft, with a focus on "middle mile" logistics for retail distribution, expanding Bristow's service to their existing customer base and specialized passenger services. Today, Bristow operates a fleet of approximately 240 of the industry's most modern aircraft for air mobility transport uses including oil and gas customers, search and rescue (SAR), and government and civil organizations, with annual revenues of over $1.2 billion.

"Just as Bristow pioneered the vertical transportation market some 70+ years ago, this MOU sets the stage for early collaboration and development between Bristow and Electra for a new class of aircraft that will allow us to take advantage of the unique capabilities of electric and hybrid power generation technologies to substantially lower carbon emissions and operating costs. This will allow us to expand our expertise providing sustainable, innovative and efficient vertical lift and aerial transport solutions into new potential end markets like moving time-sensitive cargo and passengers regionally," said Bristow President and Chief Executive Officer Chris Bradshaw. "As today's global leader in vertical lift, Bristow can leverage our operational expertise to help Electra design and build the next generation of aircraft that fully utilizes the eSTOL concept in existing and new end markets."

"Bristow's deep experience operating aircraft across a variety of missions is an excellent complement to the Electra team's extensive experience in designing and building innovative aircraft. This collaboration will lead to a more rigorous aircraft capable of addressing operators' needs across a variety of use cases and will help Electra develop and certify an eSTOL aircraft in as short a period of time as possible," said John S. Langford, Founder and Chief Executive Officer of Electra.aero. "As our principal launch operational customer, Bristow will benefit from early access to Electra's aircraft, which will deliver more than twice the payload, fly longer ranges, and have substantially lower operating costs than vertical take-off alternatives ��� with much less certification risk. We expect to deliver 50 or more aircraft to Bristow to provide low-emission transport services in exciting new markets."

Electra's eSTOL aircraft can operate from runways as small as 300x100 feet using a proprietary proven blown lift technology where eight engines provide additional wing lift, and hybrid-electric power that provides internal recharging capabilities for aircraft batteries, eliminating the need for new ground infrastructure. The quieter and more environmentally friendly aircraft is currently being designed to transport up to 1,800 pounds of cargo or move 5 to 7 passengers about 400 to 500 miles. Electra's aircraft can operate in a variety of environments ranging from busy urban areas to remote landing strips, and fly missions ranging from on-demand intracity flights to medical missions, cargo transportation, scheduled passenger service, and more. With greater payload capabilities, longer range, and lower operating costs than competitors, Electra's eSTOL represents the next generation of novel aircraft.

About Bristow Group
Bristow Group Inc. is the leading global provider of innovative and sustainable vertical flight solutions. Bristow primarily provides aviation services to a broad base of major integrated, national and independent offshore energy companies. Bristow provides commercial search and rescue (SAR) services in several countries and public sector SAR services in the United Kingdom (U.K.) on behalf of the Maritime & Coastguard Agency (MCA). Additionally, the Company offers ad hoc helicopter and fixed wing transportation services. Bristow currently has customers in Australia, Brazil, Canada, Chile, Colombia, Guyana, India, Mexico, Nigeria, Norway, Spain, Suriname, Trinidad, the U.K. and the U.S. To learn more, visit our website at www.bristowgroup.com.

About Electra.aero
Electra.aero, Inc. is a next-gen aerospace company leading the way in sustainable urban and regional mobility.  The company is building environmentally friendly electric, ultra-short take-off and landing (eSTOL) airplanes that fly people and cargo quieter, further, and more affordably. Electra's eSTOL aircraft use a proprietary hybrid-electric propulsion system, where batteries and a small turbine-powered generator work together to drive electric motors distributed across the wing, giving the aircraft its unique ability to operate out of small spaces as short as 300x100 feet. The aircraft is currently being designed to transport up to 1800 lbs of cargo or move 5 to7 passengers about 500 miles, operable in all weather conditions. Batteries are recharged mid-flight, eliminating the need for new ground charging infrastructure and enabling quick flight turnaround in diverse environments. A steep take-off and landing profile enables access in tight urban spaces and landing directly at a destination, leading to the elimination of hubs. Electra is collaborating with air transport and ground infrastructure operators to achieve a turnkey solution for diverse markets. Electra's team includes some of the most respected and successful entrepreneurs and engineers in novel aircraft design, and its technology development is supported by NASA and the DOD.