Read More General business news Elroy Air’s $46m Army award puts Chaparral on a 2029 military track ahead of planned Nasdaq listing Elroy Air has secured a $46.06 million U.S. Army development contract for its autonomous hybrid-electric cargo aircraft as it prepares to go public through a SPAC transaction valuing the business at about $1 billion enterprise value. bySrinathAugust 23, 2026