Oakland-Based Pyka Awarded $7 Million California Tax Credit to Expand Manufacturing of Zero-Emission Autonomous Aircraft

Credit will help company bring 140 new green energy jobs to California

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SACRAMENTO, Calif., May 3, 2023 -- Pyka, the global leader in autonomous electric aviation technology, was awarded a $7 million California Competes Tax Credit with the California Governor's Office of Business and Economic Development (GO-Biz), approved last week by the California Competes Tax Credit Committee. The California Competes Tax Credit is an income tax credit for businesses that locate or grow in California. Pyka, headquartered in Oakland, California, is expanding manufacturing of zero-emission autonomous aircraft and providing additional zero-emission aviation careers.

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The credit will empower Pyka, who recently launched the world's largest zero-emission autonomous cargo airplane, to generate over 140 new California jobs at all levels of the company including engineering, manufacturing, assembly, logistics, business development and operations, maintenance, and facilities management as well as janitorial positions.

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"This support and partnership with GO-Biz accelerates our manufacturing capabilities and facilitates immediate job creation in Oakland and at our test sites across California," stated Chuma Ogunwole, Pyka Co-Founder & COO. "This award accelerates the application of California's zero-emission autonomous aviation innovation and creates economic opportunities for communities across California."

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Ogunwole continued, "We are thankful to the State of California and GO-Biz for this award and look forward to making California the global hub for zero-emission aviation."

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"Pyka is an ideal candidate for the California Competes Tax Credit," said Dee Dee Myers, Senior Advisor to Governor Newsom and Director of GO-Biz. "The company is strengthening California's position as a leader in the electric aviation industry and creating substantial job opportunities in green energy technology along the way."

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About Pyka

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Pyka is defining the future of fast, environmentally friendly, and accessible electric aviation with industrial autonomous electric airplanes for commercial agricultural spraying and cargo transport. Pyka's technology includes autonomous flight control software, flight computers, high energy density batteries, advanced electric propulsion systems, and carbon composite airframes.

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To learn more about Pyka, visit www.flypyka.com

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