Money Will Be Used To Further A500, A700 Programs

Now, that's a lot of money. Adam Aircraft says it's on the receiving end of a $93 million cash infusion from a venture capital firm called DCM... along with several other high-end financial companies in both the US and Europe.

"After looking at a number of emerging companies in the exciting VLJ space, we were particularly impressed with Adam's demonstrated ability to efficiently deploy capital," said Rob Theis, DCM general partner.

The company says it plans to use that money to accelerate development of its VLJ... the A700... as well as ramp up production of its A500 centerline piston twin.

"With this funding we have more than doubled our previous capitalization, putting us in a position to accelerate our product development and production growth plans," said CEO Rick Adam. "Our order backlog in excess of 400 aircraft valued at $850 million gives us added confidence that we will be a sustainable and growing employer in Colorado and Utah for some time to come."

Adam says the cash infusion is further evidence that its business plan... and the concept of very light jets built out of composite materials... is not only viable, but profitable.

"Our continued ability to raise capital and attract a diversified portfolio of new investors is a clear indication of our leadership in carbon fiber technology and the increasing awareness of the burgeoning VLJ marketplace," said Chris Naro, Adam Aircraft CFO. "Our strong backlog, together with this significant influx of capital, leaves us well-positioned to bring our operations to sustainable profitability."

FMI: www.adamaircraft.com