Columbus Circle Capital II says Elroy Air wins up to $46.06 million U.S. Army contract for autonomous VTOL cargo drone development
CMII•SPAC merger timeline
The SPAC’s planned merger with Elroy Air remains targeted for Q4 2026; the transaction values Elroy Air at $800 million pre-money.
U.S. Army contract for Elroy Air
Columbus Circle Capital Corp II disclosed that Elroy Air won a $46.06 million U.S. Army contract to develop an autonomous hybrid-electric VTOL uncrewed aircraft.
- Work is set for California, with estimated completion in 2029.
- $5.14 million was obligated at award.
- The contract targets modular multi-mission payload delivery for Elroy Air’s Chaparral heavy-cargo drone.
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