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Aurrigo International plc signed a Project Agreement with International Airlines Group, S.A. for the deployment and demonstration of Aurrigo's autonomous aviation solutions at Cincinnati/Northern Kentucky International Airport (CVG). This agreement, valued at $0.29 million, involves the Auto-DollyTug® baggage vehicle and Auto-Sim® software. An evaluation and simulation phase is set to commence in November 2023, running for three months.
| Date | 22 Nov 2023 |
| Time | 07:01:06 |
| Category | Acquisitions and alliances |
| ID | 2001U |
22 November 2023
Aurrigo International plc
Project Agreement with IAG at Cincinnati/Northern Kentucky
International Airport (CVG)
Aurrigo International plc (AIM: AURR, the "Company" or "Aurrigo"), a leading international provider of transport technology solutions, has signed a Project Agreement ('the Agreement') with International Airlines Group, S.A. ("IAG"), for the deployment and demonstration of Aurrigo's autonomous aviation solutions at the Cincinnati/Northern Kentucky International Airport (CVG).
The Partnership is expected to follow a similar phasing to Aurrigo's agreement with IAG in the UK with an evaluation and simulation phase to commence in November 2023 running for three months, followed by a demonstration phase and an initial deployment.
It is the Board's expectation that this will then lead to the likely deployment of a small fleet during H1 2025 at CVG. As with Aurrigo's UK partnership with IAG, it will involve the Auto-DollyTug® baggage vehicle and Aurrigo's Auto-Sim® aviation operations simulation software.
The deployment of Aurrigo's vehicles under the Agreement will be undertaken at CVG and valued at $0.29 million.
David Keene, CEO of Aurrigo, said:
"This partnership is an important milestone for us as it will be our first aviation operation in the US - a key target market. We're pleased to be partnering with IAG beyond the UK and to be building a presence at a key international airport."
Enquiries:
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Aurrigo International plc David Keene, Chief Executive Officer Ian Grubb, Chief Financial Officer
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+44 (0)2476 635818
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Singer Capital Markets (Nominated Adviser and Sole Broker) Phil Davies, Rick Thompson, Angus Campbell, Jalini Kalaravy |
+44 (0)20 7496 3000
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Instinctif Partners (Financial Communications) Guy Scarborough, Isadora Pegler |
+44 (0)20 7457 2020
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About Aurrigo
Aurrigo is a leading international provider of transport technology solutions. Headquartered in Coventry, UK, it designs, engineers, manufactures and supplies autonomous vehicles and OEM products to the automotive and transport industries, particularly focusing on aviation. It is highly regarded as a specialist in autonomous and semi-autonomous technology solutions for the aviation, ground handling and cargo industries. Aurrigo has developed six types of autonomous vehicle to date, which can be utilised to reduce costs, resolve operational issues and tackle labour shortages, whilst also improving sustainability. Aurrigo has three divisions, Automotive Technology, Autonomous Technology and Aviation Technology. For more information, see www.aurrigo.com