TX-LTTS
21.4.2022 15:33:06 CEST | Business Wire | Press release
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global leading pure-play engineering services company, has garnered a multi-year $100 million+ electric air mobility deal from Jaunt Air Mobility (Jaunt). As part of the contract, LTTS will open an Engineering and R&D Centre in Québec Province for the next-gen electric aircraft manufacturer to provide engineering services for the Jaunt Journey eVTOL (electric Vertical Takeoff and Landing) air taxi.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220421005630/en/
Under the purview of Jaunt's Urban Air Mobility (UAM) business focus, LTTS will offer global engineering services to support and build the Jaunt Journey. Collectively these will encompass technology areas such as power distribution system, air data management, cockpit display system, flight control system, battery management, electrification, power electronics, structural design, stress analysis, testing, certification, and manufacturing engineering.
Jaunt is rolling out a new generation of sustainable aircraft to meet the growing demand for faster urban and regional travel. The Jaunt Journey takes off like a helicopter and transitions to flying like a fixed-wing plane using patented Slowed-Rotor Compound technology. These new air taxis will make it possible to travel more than 110 km in the air in 25 minutes or less, with trip costs affordable to the public. The Jaunt Journey, single-pilot aircraft, will carry four passengers. The vehicle will offer urban air mobility, cargo delivery, military missions, and medical transport.
Martin Peryea, CEO & CTO, Jaunt, said , "At Jaunt, our vision is to usher in a range of new-age aircraft-driven urban commuting that is fast, safe, and convenient. This new clean, sustainable aircraft will reduce carbon emissions worldwide. Strategically, we are continuing to grow our Tier 1 partnerships and recognize LTTS as a best-fit engineering partner, and together we are confident of pushing the mass-scale commercialization."
Eric Côté, President, Jaunt Air Mobility Canada, said , "The proposed Green Aerospace strategy created by federal and provincial governments makes it a perfect match for LTTS and Jaunt to offer end-to-end engineering support in structural design analysis and certification to develop the Jaunt Journey all-electric VTOL aircraft. LTTS has a history of working in Canada and can appreciate the potential behind this favorable environment."
Amit Chadha, Chief Executive Officer & Managing Director, L&T Technology Services, commented , "This deal is a milestone for team LTTS in view of the tremendous opportunities opening up in UAM and drone services which are emerging as alternatives to the increasingly congested on-ground mobility in cities. LTTS has a track record of developing high-performance engineering solutions for global Aerospace and Defense for over a decade and has supported critical defense programs in the past. We believe this program will set the benchmark for future UAM projects and our team is excited to build on this important engagement with Jaunt, with the eventual aim to make urban commuting safer, greener, efficient and reliable."
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 20,800 employees spread across 17 global design centers, 28 global sales offices and 89 innovation labs as of March 31, 2022. For more information, please visit https://www.ltts.com
About Jaunt Air Mobility LLC
Jaunt Air Mobility LLC is a transformative aerospace company headquartered in Dallas, Texas, in the US, with design and manufacturing in Montreal, Canada. Jaunt is building the best in the next generation of eVTOL (electric Vertical Takeoff and Landing) and hybrid-electric VTOL aircraft for faster travel over urban areas, moving people and packages. Jaunt is the global leader in Slowed-Rotor Compound (SRC) technology. The Jaunt Journey is the world's first aircraft combining helicopter and airplane flight capabilities. Together with Tier 1 aviation partners to develop the Journey, Jaunt intends to work with operators globally to provide this new form of travel. Jaunt offers the safest, quietest, most comfortable, and operationally efficient aircraft with a zero-carbon footprint. For more information, visit www.jauntairmobility.com .
On March 10, 2022, Jaunt became a wholly owned subsidiary of AIRO Group Holdings, Inc. (The AIRO Group). The AIRO Group will bring together decades of industry-leading technology with its group companies to provide best-in-class products and services uniquely capable of addressing a wide spectrum of aerospace markets. The AIRO Group leverages technologies that span data systems, resupply package delivery, military aerospace training, military, and commercial manned/unmanned aircraft systems, and avionics technologies. The company can be found at https://theairogroup.com/
View source version on businesswire.com: https://www.businesswire.com/news/home/20220421005630/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
FDA Authorizes ZYN ULTRA Nicotine Pouches Following Scientific Review21.8.2026 21:11:00 CEST | Press release
Authorizations add selection of ZYN ULTRA products to PMI U.S.’s growing portfolio of better alternatives for legal-age adults who smoke or use traditional oral tobacco products Philip Morris International Inc. (NYSE: PM) today announces that the U.S. Food and Drug Administration (FDA) issued Marketing Granted Orders to PMI’s U.S. affiliate, Swedish Match USA, Inc., authorizing the marketing of 11 ZYN ULTRA moist oral nicotine pouch products, including all 9mg variants and one 11mg variant. Additional 11mg variants remain under scientific review. Today’s action further enhances PMI’s leadership role in the smoke-free category. “We are delighted with the FDA’s decision to authorize a range of ZYN ULTRA products, which will build on ZYN’s position as America’s leading smoke-free product brand,” said Stacey Kennedy, PMI U.S. CEO. “We look forward to expanding our portfolio of better choices for the 45 million Americans who consume nicotine products.” ZYN ULTRA positions the brand to furth
58% of Consumers Say They Don't Care Whether a Product is a National Brand or Private Label. They Just Buy What They Need21.8.2026 12:00:00 CEST | Press release
New NIQ & World Data Lab report reveals how consumer polarization is redefining value, accelerating private label adoption, and reshaping competition on the shelf As fast-moving consumer goods (FMCG) prices rose 26% globally between 2021 and 2025, consumers have become more deliberate about where they save and where they spend. NielsenIQ (NYSE: NIQ) has released new findings showing that private label is no longer viewed simply as a lower-cost substitute, but as a credible competitor across value, mainstream, and premium segments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260819950224/en/ Private label is no longer just a value play. The findings, published in NIQ’s latest report, A Tale of Two Consumers: The Polarized Mindsets Reshaping Global Consumption, created in collaboration with World Data Lab, show how consumer polarization is redefining value and reshaping competition on the shelf. The report also draws on ins
Tanium Reappoints Co-Founder Orion Hindawi as CEO to Drive Next Chapter of Growth20.8.2026 21:10:00 CEST | Press release
Company to focus on deepening its Autonomous IT capabilities, further expanding AI offerings across its portfolio, and strengthening customer and partner engagement Tanium, a leader in Autonomous IT, today announced that Co-Founder and Executive Chairman Orion Hindawi has been appointed Chief Executive Officer, effective immediately. Dan Streetman is stepping down as CEO and as a member of the Board after leading Tanium for the last three years, during which time Tanium scaled its go-to-market operations and secured strong industry analyst recognition for innovation within the Tanium platform. Streetman will continue to advise Tanium as part of the transition and co-founder David Hindawi will return to the role of Chairman of the Board. With this foundation in place, this transition positions Tanium to deepen its Autonomous IT capabilities and further expand AI offerings across its portfolio and strengthen customer and partner engagement. The Hindawis co-founded Tanium in 2007 to build
PCI Energy Solutions to Join Mitsubishi Electric, Reinforcing Long-Term Commitment to Customers, Employees, and the Energy Industry20.8.2026 19:46:00 CEST | Press release
Mitsubishi Electric to retain PCI’s core management team and support continuity of operations, customer service, and product innovation PCI Energy Solutions ("PCI"), a leading U.S.-based provider of enterprise software for energy management and optimization, announced today that it has entered into a definitive agreement to be acquired by Mitsubishi Electric Corporation. The agreement was executed on August 20, 2026 (Japan Standard Time). The Transaction represents a strong endorsement of PCI's business, technology, employees, customer relationships and position in the energy industry. Mitsubishi Electric intends to retain PCI's core management team following completion of the Transaction, enabling PCI to preserve leadership continuity, industry expertise and its customer-focused operating model while benefiting from Mitsubishi Electric's global scale, complementary capabilities and long-term investment capacity. The agreement has been signed, but the Transaction has not yet closed. PC
Perma-Pipe Secures More Than $67 Million in New Orders in the Second Quarter of 202620.8.2026 19:02:00 CEST | Press release
Awards include significant Oil & Gas projects in MENA and Canada, as well as the Company's largest single leak detection project to date and continued growth at its new Ohio facility. Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), a global leader in engineered piping and corrosion protection solutions, today announced that the Company secured more than $67 million in new orders during the second quarter of fiscal 2026, representing strong demand across its strategically important end-markets and geographies. The orders further strengthen Perma-Pipe's backlog and provide increased visibility into future revenue growth. The Company's backlog remains well diversified across geographies, customers and end-markets. The Company continued to see strong demand across its core Oil & Gas and infrastructure markets, while also securing important new business in emerging applications, including advanced leak detection and monitoring solutions. During the quarter, Perma-Pipe secured sizabl
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom