Unmanned spy plane maker plans expansion, flies past milestone |
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Mass High Tech
Unmanned spy plane maker plans expansion, flies past milestone
One of Seattle's most successful venture-backed startups of the past decade isn't a technology company in the traditional sense. In other words, it is not an Internet, biotech or software company. But it does have connections to one of the original high-tech businesses of the region: aerospace.
Insitu said today that it delivered its 1,000th ScanEagle, a 39 pound unmanned spy plane that can cruise at up to 16,000 feet for more than 24 hours. The Bingen, Wash. company -- which was acquired by The Boeing Company last year for about $400 million -- also said that it plans to expand its aircraft manufacturing facility in rural Stevenson, Wash. along the Columbia River.
The new plant will allow the company to expand production of the ScanEagle as well as a new unmanned aircraft system known as the Integrator. And that plant expansion comes at a good time.
Last month, the Boeing subsidiary won a contract with a potential value of $250 million from the The U.S. Special Operations Command. The contract calls on Insitu to operate and maintain unmanned aircraft systems for the agency for the next five years.
The ScanEagle aircraft -- equipped with high-tech infrared and electro-optical cameras -- has been used in recent military engagements in Iraq, Afghanistan and Somalia.
In April, the spy plane was used to collect intelligence in the rescue of the captain of the Maersk-Alabama who was being held hostage in a life boat off the coast of Somalia.
Before it was sold, Insitu raised capital from Second Avenue Partners, Battery Ventures and others.
John Cook is co-founder of TechFlash. Follow him on Twitter @johnhcook.
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