It’s been a busy couple of weeks for flying car fanatics Moller International (OTCBB: MLER). Not only did the company announce that it had started producing its “Jetsons-like” M200G volantar flying saucer vehicle last week, but two days ago the company was chosen as a primary vendor in a Department of Defense (DoD) service contract.
According to last week’s press release, the M200G is a small airborne two-passenger flying vehicle that looks very similar to a flying saucer from the 50s. Eight of Moller’s patented Rotapower rotary engines are packed into the vehicle – which is about the size of a small automobile – and allow the vehicle to take off, land, hover at an altitude of 10 feet from the ground and race forward at a speed of 50 miles an hour.
Dr. Paul Moller, founder of Moller International, says all these traits create “ultimate off-road vehicle” in the release.
“It’s not a hovercraft, although its operation is just as easy,” Moller said in the release. “You can speed over rocks, fences, or log-infested waterways with ease because you’re not limited by the surface.”
So far, the company is capable of producing one fuselage a day, which explains the relatively steep price of $90,000.
The second piece of news from the company was released at the beginning of the month. According to the statement, Moller International’s experience with ducted fans, manned and unmanned Vertical Take-Off and Landing (VTOL) technology and high power-to-weight rotary engines were what pushed the contract into Moller’s favor.
Oddly enough, the company admitted that the 12-to-18 month contract would not “have a material impact on the company’s financial states,” but that it could “potentially lead to more significant levels of work.”
It’s pretty obvious that Moller’s developed a reputation for itself in the VTOL and aeronautics industry at this point. In addition to the recent news, the company’s also famous for developing the SkyCar, an as-yet-unreleased VTOL personal public transportation vehicle, more commonly known as “a flying car.” Moller claims the car will be able to reach speeds of up to 275 miles an hour and hopes to have the machine finished by 2008.
In response to all this news, shares for Moller went up another 9 percent again today, rising to 70 cents a share by mid-morning.
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