ITE has announced a collaboration with Oakland-based Pyka to further explore energy-efficient solutions in the transportation sector, focusing on electric and autonomous aircraft for both domestic and international agriculture and shipping markets.
Over the past ten years, ITE has consistently sought to invest in industrial transportation assets that offer long-term lease contracts, generating stable and recurring cash flow for investors. With the transport sector gravitating towards eco-friendly technologies aiming to diminish their carbon footprint, ITE's partnership with Pyka aligns with its objective to identify and support pioneers in the Energy Transition.
Pyka, established in 2017, specializes in developing cutting-edge technologies in electric aviation and autonomous aircraft. Their main areas of interest include commercial agricultural crop spraying and cargo transport.
One of Pyka's standout products is "Pyka Spray". This solution emphasizes precision in spray techniques and reducing chemical drift, thereby offering farmers an eco-friendly and cost-effective alternative for crop protection. Pyka's methods eradicate the need for fossil fuels, which translates to lower operational expenses for agriculturalists and presents substantial environmental benefits, such as decreased chemical usage. Additionally, Pyka Spray's automated capabilities allow for around-the-clock operations. The company has already moved forward with this product line, completing multiple trials and securing letter-on-intent customer leasing agreements.
Another significant offering from Pyka is the "Pelican Cargo", an entirely electric cargo aircraft targeting the last-mile air cargo transportation sector. As an autonomous, electric aircraft, the Pelican Cargo stands out as a zero-emission solution. The aircraft promises not only a speed advantage but also cost-efficiency when juxtaposed with traditional air cargo transportation. Pyka envisions the Pelican Cargo platform as a facilitator for swift logistics networks, connecting distant rural areas, and ensuring prompt and dependable delivery of essential goods to regions in need.