JetPack Aviation seeks funds for R&D

US firm aims to raise £300,000 to further development for its JB-10 JetPack and VTOL aircraft

US-based company JetPack Aviation has launched its first equity crowdfunding round.

The company aims to raise £300,000 and will invest the funds in further research and development for its JB-10 JetPack, which is slated for public launch in 2017, and vertical takeoff and landing (VTOL) aircraft.

The company, which has been working on perfecting a JetPack for more than 40 years, aims to produce the lightest and smallest jetpack possible, so while it could have achieved longer flight times by using turbofan engines the firm opted instead for twin turbojets.

David Mayman, chief executive of JetPack Aviation, said: “We are getting a lot closer to launching a commercial product but there is still much further that we can take our design and ideas, so we want to give the crowdfunding community a once in a lifetime opportunity to invest in turning a dream into reality.”

JetPack Aviation said it is in negotiations with the US military on how the JB-10 could be deployed in the field. For instance this could be in extraction situations where a soldier needs to be rescued from behind enemy lines. It also has a research and development agreement in place with the US Special Operations Command to develop a four-turbine jet pack that will lift twice the weight – about 700lb.

The company said it is also in discussion with one of the largest sports marketing companies about sponsoring a series of jetpack races. There are also plans to develop ‘JetPack Top Gun’ experience centres for thrill-seekers.