REEF Technology has unused flat rooftops. Archer Aviation has electric mini-helicopters. Together, they might have something.
The two firms are partnering to run Archer’s proposed air taxis from REEF’s parking garages in Miami and Los Angeles.
The partners aim to launch air taxi service from REEF garage rooftops by 2024, according to the Commercial Observer. Archer is still negotiating with the Federal Aviation Administration to get its aircraft into service.
The deal will give Archer access to “largely dormant rooftop sites across some of the most densely populated and heavily congested urban city locations in the US,” starting with Miami and L.A., a press release said.
REEF is coming off a huge year and has been in expansion mode. The company’s SoftBank-led $700 million fundraising round last year was the largest of any company in 2020 by far. Late last year, REEF partnered with Oaktree on a $300 million investment vehicle.
The company, founded in 2013, provides hardware and software services to parking lot owners. It also leases and operates its own garages.
Last year, the company started partnering with startups for other operations, including retail and cloud kitchens, on last-mile delivery service. The company recently announced that Wendy’s plans to open 700 delivery-only kitchens at its properties.
Archer, meanwhile, recently unveiled its first aircraft, Maker. The company claims the small electric vertical-takeoff-and-landing craft, or eVTOL, is “the most aerodynamic and efficient electric aircraft to ever take to the skies.”
Archer’s flying machines aren’t the only ones set to take off and land at REEF properties. Earlier this summer REEF partnered with air taxi service Joby Aviation at its Miami garages.[CO] — Dennis Lynch