{"feedItem":{"id":165208,"sourceModelId":null,"sourceModelType":null,"title":"June 2023 Update","visibility":"public","commentingPolicy":"public","pinned":false,"featuredOnSyndicateProfileAt":null,"type":"FeedItem::Update","publishedAt":"2023-06-29T04:39:07.547Z","softDeletedAt":null,"sendNotifications":true,"sendNotificationsAt":null,"notificationsSentAt":"2023-06-29T04:40:12.090Z","scheduled":false,"scheduleBlocker":"This post has already been published","createdAt":"2023-06-29T04:35:30.442Z","updatedAt":"2025-07-09T03:23:35.755Z","content":"

Hi Investors,

First of all, a thank you to all those who invested through the round on WeFunder, and welcome to Active Safety System Technologies Inc.

The WeFunder round resulted in a total raise of $52,644 from 63 shareholders, some of whom have previously invested in our UK sister companies Advanced Blast & Ballistic Systems Limited, (ABBS) Advanced Reaction Motor Systems Limited (ARMS) and Active VTOL Crash Prevention Limited (AVCP).

Update – New Enquiries/Bids

Whilst we still continue to have interest from the US Army in our armored vehicle solutions, there is currently no active requirement from them for deployment or further testing. We are therefore continuing to focus on creating saleable products and therefore revenue streams, our efforts are currently exclusively on the safety systems for eVTOLs.

AVCP have recently made a bid to a leading European eVTOL operation that came to us requesting a system to protect their flight test pilots when they start manned flight testing late next year. This would be at least a £650,000 to £750,000 project and it could be the first of several as all the eVTOL players will have the same problem when they start manned flight testing. For the bid, we are partnering with a major aerospace safety company based in Germany who produce parachutes and have recognised the same problems with eVTOL protection as we have outlined previously.

Some operations may ignore the threat to the pilots/test crew but the possibility of killing employees during testing is making at least some of them seriously consider the issue and it would clearly be disastrous for the company and the eVTOL market generally if this happened. So it is a big issue, and our patented technology to minimize the Safety Gap is a critical part of the rationale for using our systems, especially with retrorockets effectively enabling a Zero-Zero system, which no-one else is offering.

AVCP also submitted an Innovate-UK bid in conjunction with an eVTOL developer in Germany which would see the development of a steerable parachute aimed at meeting the EASA requirement that all ballistic recovery parachute systems for eVTOLs must be steerable. This bid will also involve leading aerospace universities in the UK and Germany, as well as the same German parachute manufacturer referred to above.

Whilst these bids do not offer any revenue for ASST on their own, we have been circulating the details of the proposed approaches to over 100 different eVTOL developers (many of whom are based in the US) and this has elicited several different enquiries as to whether our proposed systems will work with very lightweight eVTOLs at one end, through to 5 tonne aircraft at the other.

Thanks to our link with ASR-Pioneer in the US, we are suggesting a collaborative approach between eVTOL developers, ASR-Pioneer and our contacts in Germany to develop the complete safety system for the whole of the eVTOL market.

AVCP have also, this week, attended the Paris Airshow, where we were able to meet up with several of the major eVTOL developers from around the world and discuss this collaborative approach.

We have also just recently discovered a Swiss company which has already invested a very large sum of money over 7 years (they have raised $85m funding in total!) in developing a Look Down Video AI system (LD-VAS) to back up GPS and determine emergency landing sites for eVTOLs and cargo drones, which is the key first part of our GLIDE fully autonomous emergency recovery system that we are developing.

We are meeting with them next week to discuss using this system as it provides a great short-cut to the full GLIDE system and enables us to focus all our attention on the parachute system and steering/landing phase development which is the second part of the system. Additionally, it may also enable us to develop very quickly a stand-alone system (i.e. not integrated with the aircraft avionics) for Light Aircraft and helicopters, with an application to flight simulators as well.

These would be saleable products in the short term.

Update – Other Bids

Unfortunately, the $5m US R&D Project bid involving the US Army was rejected even though all the assessors stated that the results could change the way that armoured vehicles are designed and greatly reduce TBI levels for the occupants. But they were critical of the proposals for the first and second projects in the four-project series, in which Missouri University were responsible for developing sensors for the project, and for testing using mice. We were not happy that they had not included an artificial skull/brain with pressure/vibration sensors inside which is such an obvious requirement, but the US experts involved insisted that this would be too complex and would not include it.

Given the criticism by the assessors I expect their position will change for the revised application to be submitted in September.

The US partners say they are confident that they can address all of the issues identified so we will see what happens next time. While the project would have provided useful revenue and cash flow this year it would also have soaked up a large proportion of our staff resources and taken them away from our new focus on the eVTOL technology development, which is now very much a live issue as reported above. And as the eVTOL developments are leading directly to specific products and potential revenue it is much more important that we use our staff resources on the work required to get these products ready for sale.

Funding/ Cash Flow.

As most of the current effort is based in the UK, ASST’s outgoings in the short-term will be limited to ongoing administration costs and promoting the eVTOL technology in the USA.

As a result, the funds raised via Wefunder will provide sufficient runway for at least the next 24 months – hopefully by then we will have products to start promoting.

Best wishes to all,

Roger Sloman.

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Hi Investors,

First of all, a thank you to all those who invested through the round on WeFunder, and welcome to Active Safety System Technologies Inc.

Update – New Enquiries/Bids

Some operations may ignore the threat to the pilots/test crew but the possibility of killing employees during testing is making at lea","displayContentPlain":"Hi Investors, First of all, a thank you to all those who invested through the round on WeFunder, and welcome to Active Safety System Technologies Inc. The WeFunder round resulted in a total raise of $52,644 from 63 shareholders, some of whom have ...","metadata":{},"emailStats":null,"poll":null},"user":null,"backPath":null}