Martin Aircraft Company, a science and technology company founded in New Zealand, was listed on the main board of ASX on February 24, 2015 with the stock code MJP. KuangChi Science has acquired Martin Jetpack through investment. Dr. Liu Ruopeng, Chairman of the board of the Group, and Dr. Zhang Yangyang, CEO of the Group, serve as directors of Martin Aircraft Company.
Martin Aircraft Company, founded in 1998, is located in Christchurch of New Zealand. The Martin Jetpack was initially conceived and developed by the company founder Glenn Martin in 1981. Listed among the 50 Best Inventions of 2010 by Time magazine, the Martin Jetpack is the world’s first commercial and practical jetpack and is designed for purposes of emergency search and rescue, personal traffic, and leisure and recreation etc.
In November 2014, Liu Ruopeng, chairman of the board of KuangChi Science, accompanied by a delegation, had a close contact with Martin Jetpack at its headquarters in Christchurch, New Zealand. After negotiation, the two parties signed an investment acquisition protocol on December 19, 2014. This acquisition covered all technologies of Martin Aircraft Company. The two realized that they shared unlimited pursuits for innovation and dreams and could complement each other on many aspects in technological and commercial fields. KuangChi Science's accumulation in materials and new energy-oriented power technologies could thoroughly improve the performance of Martin Jetpack. Martin Aircraft Company's overall design and flight control technologies could help KuangChi Science to perfect the new space service product chain. On July 20, 2015, KuangChi Science's Martin jetpack officially debuted in China.