Terrafugia’s mission is the expansion of personal mobility through the practical integration of land and air travel.
Who is Terrafugia?
A Note on History
Today and Tomorrow
Investor Relations
Terrafugia was founded by graduates of the Department of Aeronautics and Astronautics and the Sloan School of Business at the Massachusetts Institute of Technology and incorporated in 2006. Currently based at its prototype development facility outside of Boston, Massachusetts, USA, Terrafugia combines solid aircraft design fundamentals with a focus on creativity, safety, the environment and dedication to Transition® customers.
"Terrafugia" is derived from the Latin for “escape from the earth".
People have dreamed of roadable aircraft since 1918 when Felix Longobardi was issued the first patent for a vehicle capable of both driving on surface roads and flying through the air. The most well known, and arguably most successful roadable aircraft were developed in the 1950s and 60s by Molt Taylor. Although his design was never mass produced and suffers from a number of practical drawbacks, a handful of prototypes were built and are capable of both flying and driving. There are also several other concepts currently in various stages of development for a flying car. A fairly comprehensive listing of vehicles of this type along with their espousers is available at the Roadable Times website.
This plurality of concepts shows that there is a perceived need for a vehicle of this type. Unfortunately, the cost/benefit of a flying car (both in terms of development and design compromises that must be made to build a vehicle like this) never justified serious financial backing – the real need was not sufficiently acute to justify the performance sacrifices of a dual use vehicle. Consequently, the flying car was relegated to the realm of lone inventors or visionaries that had the desire but not the resources/capability to build a practical, commercially viable entity around its sale to the global general aviation community. Until today.
So what's different now? Thanks to the Light Sport Aircraft and Sport Pilot Rules issued by the FAA in the fall of 2004, the barrier to entry for a small, fully manufactured GA plane is lower than ever before -- for both pilots and manufacturers. This new class of airplane, which has exploded onto the US General Aviation scene combined with the focus on the Transition® as a roadable aircraft, not a flying car, allow Terrafugia to develop a truly practical vehicle for a reasonable level of capitalization. The new Sport Pilot category of pilot license also makes it easier for someone to learn how to fly the Transition® and other Light-Sport Airplanes. (And yes, to operate the Transition®, the owner does need to be a licensed pilot.)
These regulatory shifts, combined with recent advances in engine technology, modern light-weight construction materials, and the rich heritage of aviation infrastructure set the stage for the emergence of a new market and a new class of vehicle. Today, the Transition® is being developed to give pilots new options; tomorrow, this may be seen as just the beginning.
Terrafugia is not a publicly traded company.
For qualified investors: information is available here
and by emailing us.
Terrafugia, Inc.