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Why eVTOL Company Archer Aviation Shares Are Surging Today

Archer Aviation signed a Space Act Agreement with NASA, initiating a collaborative project on high-performance battery cells for Advanced Air Mobility (AAM) and space applications. The partnership aims to enhance safety and performance for Archer's electric air taxi, Midnight, with NASA testing results expected to benefit the broader AAM industry.
byLekha Gupta
January 22, 2024
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Archer Aviation Inc (NYSE:ACHR) shares are trading higher after it penned a Space Act Agreement with the National Aeronautics and Space Administration (NASA).

As part of the joint efforts around battery characterization, NASA and Archer will focus on further testing the battery cells’ safety, energy and power performance capabilities by performing tests using one of the most advanced high speed X-ray facilities in the world, the European Synchrotron Radiation Facility (ESRF).

The collaboration will begin with a project that studies high-performance battery cells and safety testing targeted for Advanced Air Mobility (AAM) and space applications.

Archer plans to provide a high-performing battery pack to its Midnight electric air taxi, to validate that these cells are tailor-made for aerospace applications, including electric vertical take-off and landing (eVTOL), electric conventional take-off and landing (eCTOL) aircraft and potential usage in space.

NASA will test Archer’s battery system design for its Midnight aircraft, with specific results being released to advance the entire AAM industry.

Also Read: Archer Aviation Spreads Its Wings: Teams Up With InterGlobe For Electric Air Taxi Launch In India By 2026

Price Action: ACHR shares are up 5.43% at $5.34 on the last check Monday.

 
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