Could New Zealand company’s IPO finally bring us jetpacks?
(CNN) — Kids, our George Jetson, 007, Iron Man dreams are edging a bit closer to reality.
Jetpack manufacturer Martin Aircraft of Christchurch, New Zealand, went public Tuesday on the Australian Stock Exchange. Stock prices soared, because who doesn’t want a jetpack?
After raising $21 million in its initial public offering, the company is promising 2016 delivery of its first model: a contraption boasting a reported 30 minutes of flight time at a max speed of nearly 46 miles per hour and altitudes of up to 3,000 feet.
Company founder Glenn Martin created the design over 30 years of night and weekend work in his garage.
“Commercial Jetpacks are no longer the domain of science fiction,” the company’s Managing Director and CEO, Peter Coker, said in a statement. “The dream of Glenn Martin to create a commercial Jetpack is about to be realised.”
The company must still work out regulatory…
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