Hybrid Air Freighters signed a Letter of Intent to purchase up to 12 Lockheed Martin (NYSE: LMT) Hybrid Airships, at a total value of approximately $500 million. HAF is working with Hybrid Enterprises, the exclusive reseller of Lockheed Martin’s Hybrid Airships, to finalize the purchase agreement.

With significant logistics and aviation experience, Paris-based HAF was established specifically to act as an owner-operator of the Lockheed Martin Hybrid Airships.

“We are keen to implement such an impressive innovation in the logistics market,” said Hubert de Contenson, chief executive officer of HAF. “The LMH-1 will open a new era for remote cargo delivery that is free from costly ground infrastructure and will provide a sustainable and affordable solution to remote cargo operations around the globe.”

“With a 21-ton cargo payload and the ability to land on any surface, the LMH-1 Hybrid Airship is designed to revolutionize remote cargo delivery,” said Rob Binns, chief executive officer of Hybrid Enterprises. “We are honored to have HAF as the latest customer of our game-changing aircraft.”

Thanks to their unique shape and air cushion landing system, Hybrid Airships can affordably transport heavy cargo and/or passengers to and from the most remote locations. They require little or no fixed ground infrastructure and burn significantly less fuel compared to conventional aircraft making them an environmentally friendly solution to remote cargo delivery.