US state partners with futuristic aviation company to revolutionize air travel ahead of 2034 Olympics: 'Cutting-edge innovations'
Utah is making moves to be at the forefront of sustainable aviation ahead of the state's global showcase at the 2034 Winter Olympics.
EV Magazine reported Utah Aerospace & Defense and BETA Technologies signed an agreement to collaborate on electric aircraft and charging infrastructure.
"Utah is at the epicenter of cutting-edge innovations in the commercial aviation industry that will play a critical role in Utah's economic future," Utah governor Stephen Cox said. "We are not just embracing the future of transportation—we are leading it."
To that end, EV Magazine revealed the pact includes plans for a state-wide charging network, pilot training programs, and forecast models to assist flight operations. Flight demonstrations and public education initiatives round out the agreement.
Interestingly, BETA Technologies' Charge Cubes aren't just limited to use for aviation, as they can also work with electric ground vehicles. Still, the most exciting part of the collaboration is potentially unveiling the future of aviation.
"Utah has a long legacy of excellence in aerospace, which BETA already knows first-hand as many components of our ALIA aircraft are built here," company founder Kyle Clark said.
BETA Technologies is just one of many companies tapping into electric vertical takeoff and landing (eVTOL) and electric conventional take-off and landing (eCTOL) aircraft.
Their ALIA aircraft is an eCTOL model already doing test flights while proving capable of carrying five passengers or 1,250 pounds of cargo.
New-age aviation solutions like these are turning heads as they produce no pollution while in operation and could provide a clean way to transport humans or goods while lowering road congestion.
Considering aviation creates about 4% of our carbon pollution, electric or hydrogen-powered aircraft can make a difference in slowing the warming of the planet.
Would you want EV-charging roads installed in your town?
Sign me up
Depends how much it costs
No way
I'm not sure
Click your choice to see results and speak your mind.
EVTOLs add increased versatility, akin to a helicopter, in which they can land and take off in more places while making minimal noise.
EVs Magazine pointed out that the advanced aviation industry is set to swell to a remarkable $1.5 trillion by 2040. Utah is projecting that the partnership will deliver 11,000 new full-time jobs and $8 billion in new business activity by 2045.
Jim Grover of the Governor's Office of Economic Opportunity called the deal a "pivotal moment" in the state's history.
"The opportunity will transform how we travel, connecting our talented workforce across regions, improving healthcare access and assisting with energy development in rural areas," Grover declared.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
France to produce drones in Ukraine, minister says
French automotive and defense companies will produce drones on Ukrainian soil, French Defense Minister Sebastien Lecornu announced on June 6, Le Monde reported. "We are going to embark on a completely unprecedented partnership where a large French car company – I won't name it because it's up to them to announce it – will join forces with a French defense SME (small to medium-sized enterprise) to equip production lines in Ukraine to be able to produce drones," Lecornu said, as quoted by the newspaper. Lecornu did not specify the types of drones to be produced. He said that, apart from Ukraine, the drones will be also provided "to our own armies… to have ongoing tactical and operational training that reflects the reality." Lecornu also said there is "no need" to send French citizens to work on the production line, since it will be set up in Ukraine, where Ukrainians "are better than us at designing drones and especially at developing the strategies that accompany them." Since the start of the full-scale invasion, Ukraine has been developing and deploying technological innovations and cutting-edge unmanned systems. Both Ukraine and Russia have increasingly relied on drone warfare, using aerial, naval, and ground-based drones for reconnaissance and combat missions. In late March, presidential advisor Alexander Kamyshin said in an interview with Radio Khartia that Ukrainian manufacturers had the capacity to produce over 5 million FPV drones per year. Read also: Ukraine war latest: Russia hits Ukraine with large-scale attack days after Operation Spiderweb; Ukraine targets Russian air bases in 'preemptive strike' We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
12 hours ago
- Yahoo
French defence minister announces drone production in Ukraine
French Defence Minister Sébastien Lecornu has stated that a French car manufacturer, in cooperation with a defence company, will launch drone production in Ukraine. Source: Le Monde; European Pravda Details: French car and defence companies will manufacture drones on Ukrainian territory. Lecornu considers this a "mutually beneficial" partnership with Kyiv. "We are launching an entirely new partnership, under which a major French car company will join forces with a small or medium-sized French defence business to establish production lines in Ukraine for manufacturing drones," he said. He did not specify the type of drones but noted they would be used by the Armed Forces of Ukraine. Lecornu also mentioned that these drones would be available to French armed forces so they "maintain constant tactical and operational training that corresponds to the realities" of the war in Ukraine. He said that Ukraine would provide feedback on the use of these drones in combat conditions. "There is no need to ask French citizens to work on the production line in Ukraine," Lecornu emphasised. He added that Ukrainians are "better than us at developing drones and, most importantly, at forming the doctrine of their application". Background: On 5 June, Ukrainian and French defence ministers discussed possibilities for joint weapons production for the needs of Ukraine's defence forces during a meeting in Brussels. Ukraine and its partner countries decided to establish a mechanism for defence production, according to an agreement reached at the 28th meeting of the Ukraine Defence Contact Group (also known as the Ramstein Format) held on 4 June at NATO headquarters. Support Ukrainska Pravda on Patreon!
Yahoo
12 hours ago
- Yahoo
Winners of Defense Stock Frenzy in Europe, From Chemical to Goggle Makers
(Bloomberg) -- This year's surge in Europe's biggest defense stocks has elicited some obvious winners, leading investors to dig deeper beneath the surface for other names that might stand to benefit from the billions being diverted toward military budgets. Next Stop: Rancho Cucamonga! ICE Moves to DNA-Test Families Targeted for Deportation with New Contract Where Public Transit Systems Are Bouncing Back Around the World US Housing Agency Vulnerable to Fraud After DOGE Cuts, Documents Warn The Global Struggle to Build Safer Cars From goggle makers to chemicals producers, and even a printing company, stocks with the merest link to defense have been snapped up, sending share prices soaring. While heavyweight Rheinmetall AG has tripled this year, the German tank and munitions maker's advance has been outshone by a fourfold jump in Exail Technologies SA, a supplier of maritime drone systems. Steyr Motors AG, a small producer of engines for tanks and boats, has seen a similar level of gains. 'There's been a real shift in investor appetite for UK and European small-cap defense companies,' said Jamie Murray, an analyst at Shore Capital Stockbrokers Ltd. 'There's a lot of momentum behind these stocks, with investors more willing to look past short-term challenges to medium-term opportunities.' Here's a look at some of the defense-related stocks that have caught the eye of investors: Night Vision Core defense stocks got an immediate boost when Russia invaded Ukraine in February 2022, but a handful of night vision specialists have come into focus more recently. Theon International Plc, which sells thermal-image and night vision goggles, listed in Amsterdam in February last year. The shares trade at more than three times their IPO price of €10 and at around 27 times blended forward earnings, its valuation is the most expensive of the night-vision cohort. Exosens SAS listed in June 2024 in Paris. It provides photo-detection and low light condition imaging solutions and serves customers worldwide. The shares are up 124% since their debut. Analysts are positive on the outlook for both Exosens and Theon, with most who cover the stocks rating them as a buy. Still, some investors are starting to book gains after this year's spectacular advance. More than €230 million ($262 million) of shares in Exosens and Theon were sold this week in separate block trades. Smaller peer NSE, also Paris-listed, is a producer of aircraft wiring, accessories and night vision systems. It's up around 45% in 2025, adding to two straight years of double-digit gains. Robotics Exail Technologies is another star of Europe's defense rally, its shares surging over 300% in 2025 and its market capitalization jumping to €1.26 billion from about €340 million in just a few months. The ascent started in early February with the announcement that the company had signed a contract worth hundreds of millions of euros for underwater drone systems for mine warfare. Exail has a full house of buy recommendations from the five analysts tracked by Bloomberg who cover the stock. Chemicals Alzchem AG, based in Trostberg, Germany, produces a raw material used in propellants for NATO-standard 155mm artillery ammunition. It has exposure to the defense push through its customers and European Commission funding. It also signed a contract with the US Department of Defense in 2024. Five out of six analysts tracked by Bloomberg who cover Alzchem have buy ratings on the stock. Industrials Industrial companies are enjoying varying degrees of success in aligning themselves with the lucrative defense theme. Obvious defense plays such as Rheinmetall, Leonardo SpA, Saab AB, Thales SA and BAE Systems Plc have become increasingly expensive, trading on average at around 34 times forward earnings, compared to less than 15 for the Stoxx 600 Index. No surprise then that investors have looked for cheaper alternatives. Thyssenkrupp AG, which trades at around 11 times forward earnings, has emerged as a major 2025 winner. The shares have more than doubled this year as the planned spinoff of its submarine-building unit drew fresh attention to the steel company's defense credentials. Deutz AG, an engine manufacturer, was initially reported to be among bidders for Thyssenkrupp's marine systems unit. There have been no concrete developments on that front, but the Cologne-based company's chief executive officer has said the firm is interested in defense. Its shares have soared 92% this year. On a similar theme, printing company Heidelberger Druckmaschinen AG is another German firm said to be exploring a shift toward defense. Its industry unit designs, constructs and equips factory production lines — capabilities that could have military applications. The stock is up around 56% this year. Other companies are finding ways to benefit from booming military budgets. In Italy, a bidding war for truckmaker Iveco Group NV's defense unit has sent the firm's shares to a record high. The company develops and manufactures specialized vehicles for defense and civil protection and has expanded into artificial intelligence and software technologies. It's said to be seeking up to €1.5 billion for its military unit. Mutares SE unlocked a spectacular return when the private equity firm listed Steyr Motors on the Frankfurt Stock Exchange in October. Steyr, formerly a struggling Austrian engine maker, is closing in on a 300% gain this year. Avio SpA, an Italian aerospace company, is exposed to two hot trends: defense and space propulsion. Its shares have surged over 50% this year. Avio says it is a key service partner to Italy's air force, manufacturing, designing and servicing the EJ200 engines for the Eurofighter Typhoon, among others. IT, Cybersecurity, Intelligence, Satellites Eutelsat SA has rallied this year, at one point soaring 300%, as investors saw it as likely to play a role in a new European military intelligence satellite network. The firm has put itself forward as an alternative to Starlink in Ukraine. Still, the shares have erased a large portion of their gains since the initial enthusiasm, weighed down partly by concerns around the company's debt. OHB SE, another satellite company, has also surged, and is regarded as a potential beneficiary of German investment after the Bremen-based manufacturer won a €2.1 billion order last year. Cohort Plc, a UK defense company based in Reading, has seven businesses specializing in areas such as satellite communications, surveillance, sonar systems, fire control and electronic warfare. Its shares rose 96% in 2024 and are up another 43% this year. Indra Sistemas SA, a Spanish IT firm which makes radar air defense systems, has more than doubled this year. Its chairman said in May that the firm also plans to build tanks. 'Accessories like telecommunications, radars, encryption — all of this is a big part of the value of the vehicle — and we were missing the other part,' Indra's Angel Escribano said last month. Shares in Mildef Group AB, a Swedish developer of military-grade laptops, tablets and tracking solutions, are up almost 80% this year, paring some of their advance on June 3 after CEO Daniel Ljunggren sold a third of his stake in the company. Headsets, Breathing Gear Invisio AB, another Swedish company, is the self-proclaimed global market leader in tactical communication and hearing protection systems. Its website features images of khaki headsets, intercom systems and cables. Its shares have climbed almost 30% since the year began. German medical equipment company Draegerwerk AG, whose breathing gear turned it into a Covid pandemic beneficiary, is up more than 50% so far in 2025. The company 'is positioning itself in the defense sector by leveraging its expertise in air filtration, sensor technology, and personal protective equipment,' Warburg analysts wrote in April. The two are part of the growing ranks of listed companies producing military gear, vehicles and weapons, and whose shares are surging as investors position for sustained defense spending by governments. 'The nature of warfare is changing,' said Graeme Bencke, a fund manager at Amati Global Investors Ltd. 'Things like space and cyber are increasingly important, as well as battlefield communication and autonomous vehicles.' --With assistance from Lisa Pham, Julien Ponthus and Julius Domoney. Cavs Owner Dan Gilbert Wants to Donate His Billions—and Walk Again YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Is Elon Musk's Political Capital Spent? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data