An extraordinary general meeting of Joby shareholders on Thursday is expected to approve the company’s proposed merger with special purpose acquisition company Reinvent Technology Partners. Next week, on August 11, the merged entity, which will trade under the name Joby Aviation, is due to float its shares on the New York Stock Exchange through an offering that is expected to raise around $1.6 billion.
In preparation for life as a public company, the California-based startup has opened an office in Washington, D.C. The new base, which will support collaborative work with U.S. policymakers and other aviation industry stakeholders, is equipped with a flight simulator that demonstrates operations with all-electric eVTOL aircraft Joby plans to bring to the market in 2024.
“We look forward to accelerating the industry’s education efforts on the dramatic benefits that zero-emissions aviation and eVTOL flight enable and we’re grateful for the support of key government and industry stakeholders who have already visited our new D.C. office and experienced Joby flight in our simulator,” said Greg Bowles, Joby’s head of government affairs. “We look forward to welcoming many more thought leaders and policymakers as we demonstrate the global importance of the clean future of flight.”
Joby plans to launch on-demand air taxi service using its all-electric aircraft, which will have a range of 150 miles and cruise speeds of 200 mph. The aircraft will be piloted and seat up to four passengers.
Through its involvement in the U.S. Air Force’s Agility Prime program, Joby is one of several eVTOL aircraft developers conducting flight trials to evaluate possible military use cases for advanced air mobilty technology. Joby’s aircraft has already received military airworthiness approval.