Cincinnati public company sells tech, enters joint venture

A Greater Cincinnati public company has sold one of its latest inventions while entering a joint venture to monetize another key piece of its business.

Loveland-based Workhorse Group Inc. (Nasdaq: WKHS) has sold its SureFly electric vertical takeoff and landing aircraft along with its related hybrid electric power system technology to Elma, N.Y.-based Moog Inc., a designer, manufacturer and integrator of precision control components and systems.

Workhorse exhibited the technology at the 2019 Detroit Auto Show. SureFly, a two-seat hybrid multi-copter aircraft, was being developed for a variety of uses including emergency and first responders, urban commuting, military, agriculture and cargo. It can carry up to 550 pounds for about 75 miles at a speed of 70 miles per hour. It was designed to be easy to operate and moderately priced compared to a conventional helicopter.

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Story excerpt provided by Cincinnati Business Enquirer.

Written by Erin Caproni.

Originally published December 5, 2019.