Archer receives first u.s. air force payment on landmark contracts valued at up to $142 million

Santa clara, calif.--(business wire)--archer aviation inc. (nyse: achr), a leader in electric vertical takeoff and landing (evtol) aircraft, announced today that the u.s. air force has provided the company with its first installment of nearly $1m on their recently announced contracts valued at up to $142 million. the initial payment is expected to be the first of many payments made to archer by the u.s. air force and signals the ongoing advancement of the partnership from signature to execution.
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