AeroVironment formed a joint venture (JV) to develop solar-powered HALE UAS for commercial operations, a.k.a. high-altitude pseudo-satellites (HAPS). The JV will fund the development programme up to a net maximum value of $65,011,481. The JV, HAPSMobile, is a Japanese corporation that is 95% funded and owned by SoftBank Corp and 5% funded and owned by AeroVironment.
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