Electric Aerospace Technology Company magniX Announces U.S. Expansion, Appoints Veteran CEO

REDMOND, Wash., June 28, 2018 /PRNewswire/ -- magniX, the company powering the electric aviation revolution, today announced its U.S. expansion and the appointment of aviation veteran Roei Ganzarski as Chief Executive Officer to lead the company into its next phase of growth and innovation. Along with opening its global headquarters and second engineering center in Washington state, Ganzarski will execute the company's vision to deliver the industry with a leading electric propulsion system that revolutionizes the commercial aerospace and defense industries.

Bombardier Commercial Aircraft forecasts small aircraft deliveries will account for $580 billion in the next 20 years. However, with aging fleets and increased demand for rapid real-time transportation, the industry is in dire need of an innovative technology like what electric aviation offers. Electric propulsion shapes a new culture of transportation for years to come. With its state-of-the-art technology, magniX envisions a world where aircraft are powered cleanly and more efficiently lowering operating costs while benefiting the environment, parting the skies for new routes, frequencies, and business models for companies both small and large.

Bringing 20-yars of deep experience as an aviation executive, Ganzarski is well-positioned to transform magniX into an aerospace leader. He previously served as CEO of BoldIQ, growing the on-demand scheduling software business into a leading provider of aviation software. Prior to BoldIQ, he worked at Boeing as the Chief Customer Officer of Flight Services where he steered a global team spanning 90 countries. In his new role at magniX, Ganzarski will assist in bringing innovative products to market, building out their presence in the commercial and defense markets, and forging partnerships with industry-leading technology and hardware providers.

"Since the introduction of the jet engine in 1939 with the Heinkel, the aviation industry has been stagnant seeing little to no step change innovation– until now. Today, we are on the cusp of a seismic shift with the promise of full electric flight which will have positive implications on operating costs, flight frequency, connectivity, noise, and the environment," said Ganzarski. "Our team of world-class engineers have created and continue to innovate a leading power-dense electric propulsion system that changes the face of aviation and carries the industry into its next revolution. We are dedicated to connecting people and commerce in a way that benefits all."

In the near term, the company will open its global headquarters and an additional engineering center in Redmond, Washington. magniX will continue working on its already developed power-dense electric motor with the first product announcement slated for later this year.

To learn more about the company, please visit the magniX website at www.magnix.aero.

About magniX
Headquartered in Redmond, WA with an engineering facility in Australia, magniX offers revolutionary electric propulsion systems for aircraft to meet electrical generation and torque requirements for sustainable commercial aerospace and defense. Using proprietary technology, magniX has developed a powerful electric propulsion system for aircraft and offers a range of solutions for various aviation applications including fixed wing, rotorcraft, and VTOL. magniX is fully-funded and strongly supported by private investors who are committed to realizing the vision of electric propulsion in aviation. Their motivation is to increase the prosperity and well-being of mankind through reinventing aviation and connecting communities. For more information, please visit: www.magnix.aero.

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