There are 2 founders of the company:
Ivo Boscarol (51% owner) and Danny Wu Hao (49%), who entered as the financial partner and will provide capital investment required for the construction of Project Jurong.
The ownership of both Slovene companies, Pipistrel d.o.o. and Pipistrel Vertical Solutions remains 100% Slovenian as before.
The new company will produce two types of aircraft (Alpha Electro and Panthera Hybrid). Pipistrel d.o.o. will sell the technology and the rights for production and sales for the two aircraft models to Pipistrel Asia-Pacific for a significant part of SE Asia, all together 11 countries.
From now on, the PIPISTREL ASIA-PACIFIC, General Aviation Technology Co. Ltd company is the general distributor of Pipistrel for China.
It will be in charge for realization of the "Project Jurong", the agreement about establishing an aviation and tourist center next to Jurong Lake national park. The agreement was signed between Pipistrel company and the government of the Jurong City on Friday, 1. December, in presence of His Excellency the Slovenian Ambassador in China, Mr. Janez Premože.
During the course of the following two years, a new airport, aircraft factory, villas compound and a department of aviation university will be built in the "Project Jurong" center. With its daughter companies, which will be established in the next months, the Pipistrel Asia-Pacific will also take care of acquisition of terrain, construction and management of a 130 hectare airport complex with all the infrastructure, tourist settlement and all the supporting activities.
The complex is located next to a highway which connects it to Jurong City (10 minutes car-drive) and international airport in Nanjing (30 minutes drive), from which a direct airline connection will be established to the Maribor airport in Slovenia in 2019. To the downtown Nanjing (8.5 million inhabitants) there is only 40 min car drive and also other excellent traffic connections are being built: a subway station and a connection to the high-speed railway, which will connect Nanjing to Beijing in 3 hours.