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Ampaire Conducts First Airline Flight Trials for a Hybrid-Electric Aircraft

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Electric aviation pioneer flies low-emission aircraft between Hawaiian island destinations demonstrating potential for sustainable aviation

Ampaire, a global leader in electric aviation, is the first to complete a demonstration flight of a hybrid-electric aircraft along an actual airline route. The company flew its Electric EEL aircraft on November 22nd on a 20-minute flight from Maui’s Kahului Airport across the island to Hana and back on a single charge.

Ampaire is now flying the route regularly in a one-month demonstration program with Hawai’i-based Mokulele Airlines, one of 15 airlines to have signed a Letter of Interest with the company. It is the first use of a hybrid-electric aircraft under the FAA’s Experimental-Market Survey category, allowing Ampaire to fly with their crew and essential personnel for crew training and other exploratory market activity. The flight trials are supported by Elemental Excelerator, a global climate-tech accelerator.

“We’re following the successful path of hybrid-electric automobiles in transforming ground transportation by taking that model to the sky, ” said Ampaire CEO Kevin Noertker. “By upgrading current aircraft with hybrid-electric propulsion we can enter the market quickly and take advantage of existing infrastructure for fixed-wing aviation.”

The trials serve two purposes, according to Noertker: demonstrating electric aviation’s potential to reduce harmful emissions and evaluating the robustness of Ampaire technology. “We can take lessons from this series of flights and apply them to subsequent, larger aircraft designs already in the works.”

The Electric EEL technology demonstrator used in the Mokulele trials is an upgrade of the popular six-seat Cessna 337 twin-engine piston aircraft. The aircraft has a 300-horsepower piston engine in the rear and a 160 kW-capable electric power unit in front, plus a battery pack carried in an under-fuselage aero-optimized shell. Due to the contribution of the electric power unit, fuel consumption and CO2 emissions are reduced by approximately 40-50 percent.

For the flight trials, the only change to ground equipment was the requirement to wire a Mokulele hangar with a 208-volt 3-phase outlet. Ampaire has been working with the Hawai’i Department of Transportation and the Hawaiian Electric Company to explore longer-term infrastructure solutions to support a fleet of hybrid- or fully-electric aircraft.

“The future for regional airlines is electric,” said Stan Little, CEO of Southern Airways which operates one of the largest commuter airlines in the U.S. and owns Mokulele Airlines. “We expect to put hybrid- and all-electric designs into service as soon as possible, and we know other regionals are watching us with great interest.”

“We’re excited to partner with Ampaire to pave a path to electric aviation that unlocks more accessibility to rural and island communities and increases green jobs while invigorating the aviation industry,” says Danielle J. Harris, Director of Mobility Innovation at Elemental Excelerator. “Building a climate-positive aviation industry is about much more than just a plane. It requires rethinking everything from airport infrastructure to pilot behavior, and that’s what this project is really proving.”

“The market for electric aircraft will expand as airlines perceive that electric aviation is not only environmentally desirable but economically advantageous,” said Noertker. “Electricity cost is an order of magnitude less expensive in comparison to fuel, which is the largest cost item for airlines.”

“Ampaire is focused on the regional market where we can provide viable range for typical routes,” he said. “The average regional airline route in the U.S. is less than 500 miles. Upgrading today’s aircraft for electric power is a relatively low-cost, low-risk path to aircraft certification. Then we expect to move on to increasingly efficient and capable clean-sheet designs.” UBS, the Swiss investment bank, forecasts a $178 billion market for hybrid-electric aircraft.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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YouTube Suspends Trump Channel

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YouTube Suspends Trump Channel

Google-owned YouTube on Tuesday temporarily suspended President Donald Trump’s channel and removed a video for violating its policy against inciting violence, joining other social media platforms in banning his accounts after last week’s Capitol riot.

Trump’s access to the social media platforms he has used as a megaphone during his presidency has been largely cut off since a violent mob of his supporters stormed the Capitol in Washington DC last week.

Operators say the embittered leader could use his accounts to foment more unrest in the run-up to President-elect Joe Biden’s inauguration.

“In light of concerns about the ongoing potential for violence, we removed new content uploaded to Donald J. Trump’s channel for violating our policies,” YouTube said in a statement.

The channel is now “temporarily prevented from uploading new content for a ‘minimum’ of 7 days,” the statement read.

The video-sharing platform also said it will be “indefinitely disabling comments” on Trump’s channel because of safety concerns.

Facebook last week suspended Trump’s Facebook and Instagram accounts following the violent invasion of the US Capitol, which temporarily disrupted the certification of Biden’s election victory.

In announcing the suspension last week, Facebook chief Mark Zuckerberg said Trump used the platform to incite violent and was concerned he would continue to do so.

Twitter went a step further by deleting Trump’s account, depriving him of his favorite platform. It was already marking his tweets disputing the election outcome with warnings.

The company also deleted more than 70,000 accounts linked to the bizarre QAnon conspiracy theory, which claims, without any evidence, that Trump is waging a secret war against a global cabal of satanist liberals.

Trump also was hit with suspensions by services like Snapchat and Twitch.

The president’s YouTube account has amassed 2.77 million subscribers.

The home page of the Trump channel featured a month-old video of Trump casting doubt on the voting process in November’s presidential election, and had logged some 5.8 million views.

On Tuesday, an activist group called on YouTube to join other platforms in dumping Trump’s accounts, threatening an advertising boycott campaign.

(AFP)

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Analysts Predict 1,137% Earnings Per Share Growth for Shopify’s Full Year 2020

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Analysts Predict 1,137% Earnings Per Share Growth for Shopify’s Full Year 2020

While the pandemic has devastated countless businesses, it has provided a major boon for eCommerce platform Shopify.

Shopify’s stock rallied by 169.9% in 2020 compared to the industry’s 26.6% growth. As of mid-December 2020, according to the research data analyzed and published by Finnish site Sijoitusrahastot, it had a 90 RS rating, which means that it had outperformed 90% of stocks during the year.

Based on the Zacks Consensus Estimate, its Q4 earnings per share (EPS) are set to jump by 188.37% to $1.24 while its sales will grow by 78% to $899.2 million. For the full year 2020, analysts project a massive 1,137% jump for the Shopify EPS.

Shopify Merchants Sell Over $5.1 Billion on Black Friday, Cyber Monday

Since Shopify went public in 2015, its stock has risen over 40-fold to more than $1,200 at the end of December 2020. Between 2016 and 2019, it skyrocketed by over 1,400%.

The eCommerce platform’s earnings for Q1 to Q3 2020 grew at an average of 552%. That was well above the 101% three-year average. In Q3 2020, its revenue nearly doubled from $390.6 million to $767.4 million.

Earnings in Q3 2020 rose from a net loss of 29 cents to $1.13 per share. Gross Merchandise Volume (GMV) soared by 109% reaching $30.9 billion, compared to 46% in Q1 2020 and 119% in Q2 2020. For the first nine months of 2020, there was a revenue increase of 82%.

For the first time, Shopify’s GMV surpassed that of eBay in Q2 2020, doing it again in Q3 2020. It claims to have a 6% share of the US market, higher than eBay’s but lower than Amazon’s 37%.

During the Black Friday Cyber Monday weekend, merchants on the Shopify platform sold goods worth $5.1 billion. Compared to 2019, this marked a 76% uptick and set a new record. Comparatively, independent businesses on Amazon sold goods worth $4.8 billion. The number of buyers on Shopify increased by 50% year-over-year (YoY) to 44 million during that weekend.

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Global Digital Payments Market to Grow by 23.7% in 2020 to $4.9 Trillion

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While it was already under way prior to the pandemic, the global shift to digital payments has been positively affected by the crisis.

According to the research data analyzed and published by Finnish website Sijoitusrahastot, the global digital payments market grew by 21% YoY in transaction value during H1 2020. Statista projects that the market’s total transaction value will grow by 23.7% year-over-year (YoY) in 2020 to reach $4.93 trillion. The number of users is also set to increase by 10.1% YoY to reach 3.47 billion.

Asia’s Digital Payments Market to Reach $2.88 Trillion in 2020

In the period between 2020 and 2024, the global digital payments will grow at a 13.4% compound annual growth rate (CAGR) to reach $8.17 trillion by 2024. The market’s top segment is digital commerce, estimated to grow at 4.8% YoY reach $2.93 trillion in 2020. By 2024, it is set to grow to $4.11 trillion, growing at a CAGR of 8.9%.

China will take the lead in digital payments, growing to $2.31 trillion, as well as in digital commerce, reaching $1.17 trillion in 2020. For Asia as a whole, digital payments will reach $2.88 trillion in 2020 as per a Statista report.

According to McKinsey, Asia generated $900 billion in 2019 as payment revenue, almost half the global total. Between 2018 and 2019, digital payments in Asia Pacific grew by 24.7%. Comparatively, the growth rate was 14.1% in the global market, 12.2% in Europe and 5.6% in North America.

China has a dominant role in the market, thanks to mobile payments. Based on a Finextra report, 70% of China’s consumers use mobile wallets regularly. It estimates that in 2020, 80% of global mobile wallet revenue will come from China.

Capgemini projects that in 2020, mobile payments in APAC will grow at 13.9% YoY to reach $277.5 billion. In contrast, the figure will be $229.1 billion in Europe, growing at 6.2% YoY and $184.8 billion in North America, growing at 3.0%.

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