SADI makes first investment in Diamond D-Jet Corp

Diamond D-Jet Corp, London ON, has received $19.6 million from the Strategic Aerospace Defence Initiative (SADI), the first award announced under the recently created program (R$, April 10/97 & February 8/08). The repayable investment supports a $95.2-million R&D project which began in 2003 to develop a new class of small very light jets (VLJ) for the owner-pilot market. It targets four prototypes that must undergo certification and pre-production development before moving towards commercialization. Diamond D-Jet is a subsidiary of Austrian-based Diamond Group. The London facility was established in 1992 and employs 580 of the firm's global workforce of 1,500. The five-seater, single engine D-Jet received the Popular Science magazine's Best of What's New Award in 2006. It is manufactured using composites, resulting in a micro aircraft that's lighter, stronger and more aerodynamic than a comparable aircraft made of aluminum….