Airbus seeks outside investors for Zephyr high-altitude drone

Bloomberg

Airbus SE is seeking outside investment for its high altitude solar-powered drone program called Zephyr in order to accelerate the commercialisation of the technology.
The planemaker has hired Morgan Stanley to lead to the process of finding investors, a spokesman said in an email. Airbus will continue to own a stake in the unit, which will be renamed Aalto, the spokesman said.
Airbus is looking to use the Zephyr drones, which float almost motionless at an altitude of 70,000 feet for months at a time, as a less costly, more nimble alternative to conventional satellites. The drone can provide mobile phone connectivity as well as play a part in remote communications, maritime surveillance, border patrols, or gauging environmental change and monitoring the spread of wildfires and oil spills.