Investment Division is Focusing Capital in Technologies & Companies Engaged in Autonomous Vehicles, Delivery Drones and Related Transportation Solutions
BONITA SPRINGS, Fla.–(BUSINESS WIRE)–#autonomousvehicles–CapStone Holdings Inc. today announced a new investment division – GameAbove Mobility – to focus capital and strategic partnerships with established, innovative companies creating the next generation of mobility solutions, including autonomous/connected vehicles, heavy lift drones and unmanned aerial vehicles.
Today’s announcement coincides with GameAbove Mobility’s significant investment in Local Motors, a leader in the development, manufacturing, and deployment of autonomous vehicles. Earlier this year, CapStone Holdings made a $10 million equity investment in Perrone Robotics Inc., a leading provider of fully autonomous vehicle systems.
“GameAbove Mobility is bringing more than 65 years of combined experience in automotive, technology and fleet management solutions to some of the world’s fastest-growing mobility industries,” said Keith J. Stone, CEO and founder of CapStone Holdings. “Our focus will be on companies like Perrone Robotics and Local Motors to utilize their technology and advanced manufacturing methods, and leverage our experiences to establish an international model of commercialized deployment. Our portfolio range includes autonomous ground, air, and water transportation as well as fleet services, drones for cargo delivery, and revolutionary avionic and aquatic software.”
“GameAbove Mobility’s investment and strategic partnership are important to fulfill the near-term demands for further deployment of Olli, our autonomous electric vehicle. It will also enable us to continue advancing our technologies and micro-manufacturing processes,” said Local Motors CEO Jay Rogers. “We are looking forward to leveraging GameAbove Mobility’s vast fleet experience and ecosystem of technology partners.”
Autonomous vehicles, like the Local Motors Olli, are increasingly being utilized for public transportation, first-mile and last-mile shuttles, freight deliveries and more.
“GameAbove Mobility’s commitment to Michigan as a multimodal technology hub will further cement Michigan as the leader in the adoption of connected and autonomous vehicles while enabling the scaling of both new mobility technologies and product development for years to come,” said Trevor Pawl, Chief Mobility Officer, State of Michigan. “Today’s announcement highlights the advantage that our state’s ecosystem offers, bringing together new investments, innovative companies like Local Motors and GameAbove Mobility and our world-class testing facilities.”
GameAbove Mobility will have a regional office at the American Center for Mobility (ACM) a smart mobility test center in Ypsilanti, Michigan. At ACM, GameAbove Mobility will assist in autonomous vehicle deployment in the region and facilitate greater public-private partnerships, research, product development, testing, and validation, alongside the State of Michigan, transportation authorities, and Eastern Michigan University, where research and education has been supported through the GameAbove-EMU division in partnership with the GameAbove College of Engineering and Technology.
“Because of Southeast Michigan’s universities, our rich history with transportation innovations, our relationship with academic institutions, and our advanced research and testing facilities, ACM continues to be an ideal location for the validation and future development of all facets of future mobility technologies and products,” said Reuben Sarkar, CEO of the American Center for Mobility.
The growing use and expansion of aerial delivery systems is another reason GameAbove Mobility is initially focusing attention on Southeast Michigan, where aerial infrastructure, mapping and supply chains have been advancing for several years.
“The future of unmanned aerial vehicles and logistics is already being developed and tested in the greater Detroit area,” said Bryant Holt, Chief Development Office at Wayne County Airport Authority. “We look forward to collaborating with industry leaders to advance all forms of autonomous mobility solutions.”
CapStone Holdings, Inc. is a family office-structured holding company that maintains a balanced portfolio through investment strategies that maximize innovation and return with minimal risk. CapStone Holdings and its founders have invested across a wide range of industries for over 33 years and engages in focused philanthropic efforts. www.capstoneholdingsinc.com
GameAbove Mobility is a CapStone Holdings Inc. company that provides capital and strategic guidance to companies delivering innovative mobility solutions. Investments are made with established companies propelling technology and deploying products through public-private collaboration, research and development. www.gameabovemobility.com
About Local Motors
Local Motors designs, manufactures, and deploys next generation vehicles. Founded in 2007 with a belief in open collaboration, Local Motors began low-volume vehicle manufacturing of open-source designs utilizing a microfactory model. Since its inception, Local Motors has debuted no less than three world firsts; the world’s first co-created vehicle, the world’s first 3D-printed car, and the world’s first co-created, autonomous, electric vehicle, Olli. We believe that Olli is the answer to a sustainable, accessible mobility solution for all.
GameAbove Mobility and Capstone Holdings Inc. media contact:
Denis Wolcott, 213-200-1563, [email protected]