Aurrigo International, a London-listed transport technology company, has announced its collaboration with a large logistics company to develop an electric autonomous airport cargo vehicle. The project is set to receive a generous grant of 482,000 pounds ($608,669) from the U.K. government.
Over a 14-month period at East Midlands Airport, the U.K.'s second-largest cargo terminal, both companies will work together to bring Auto-Cargo to life. The primary objective of Auto-Cargo is to efficiently transport heavy cargo loads to and from aircraft. Once successful, this innovative vehicle will be employed in driverless movement operations alongside aircraft.
Chief Executive David Keene expressed his enthusiasm for the collaboration, stating, "This is an exciting opportunity for us to expand into the air freight space, where there is a significant demand for automation, improved operating efficiencies, and a commitment to decarbonization. We will closely collaborate with our logistics partner to engineer Auto-Cargo according to the specific ground tasks it needs to perform."
As a result of this announcement, shares at 0714 GMT experienced a 3.9% increase, rising by 5 pence to reach 132.50 pence.
