Bridger Aerospace
| Company type | Public NASDAQ:BAER |
|---|---|
| Industry | Aerospace |
| Founded | 2014 |
| Founder | Tim Sheehy |
| Headquarters | , United States |
Key people | [1] |
| Website | Official website |
Bridger Aerospace is an American aerospace company which provides aerial firefighting and wildfire management services.[2] At the Martin Fire in Nevada in 2018, it was the first private company to legally fly a drone over a wildfire.
In January 2023, Bridger went public via SPAC Merger at a valuation of $869mm. It currently trades under NASDAQ: BAER;[3] The company was unprofitable in 2023 and 2024, and is currently trading at $3.20 per share. Only about 12% of shares are publicly traded.[4]
History
[edit]The company was founded in 2014 by Tim Sheehy, a former Navy SEAL who utilized airborne surveillance during the Global War on Terror.[5][6] Initially, Sheehy operated one plane to assist ranchers with tracking their cattle from the air.[2] Starting in the 2015 wildfire season, he shifted the company's focus to aerial firefighting.[7]
In 2018, Bridger was one of four companies awarded a contract with the United States Department of the Interior to use drones in emergency situations, including wildfires.[8] Under the contract, the company was granted permission to fly a drone over a wildfire. It became the first private company to legally do so when it used its drones to fly over wildfires during the Martin Fire in Nevada, mapping 435,000 acres of burned land in 11 flight runs.[2][8]
By August 2019 the company had grown to a fleet of 20 aircraft and a staff of 100.[9]
In March 2020, Bridger Aerospace offered its fleet to healthcare workers for moving supplies and patients as a response to the global COVID-19 pandemic.[10] The company also manufactured face shields that it donated to frontline workers and used its fleet to deliver PPE to medical personnel in Montana.[11][12][13]
Bridger was the launch customer for the De Havilland CL-415EAF Firefighting Aircraft.[14]
In 2024, Tim Sheehy resigned as CEO to focus on his Senate election in Montana. Sheehy had received millions of dollars in compensation as CEO even as the business has been unprofitable.[15]
Operations
[edit]The company is headquartered in Belgrade, Montana, and provides its aerial fire fighting services to government agencies including the United States Forest Service in states across the U.S.[9] Its planes are used for fire suppression and it uses unmanned aerial vehicles to map and provide surveillance of fires.[2] The drones provide fire crews with information including infrared imagery of active fires, and help communicating with and tracking firefighters on the ground.[16]
Fleet
[edit]As of 2021, the company's fleet includes over 20 aircraft, including:
| Aircraft | No. of aircraft | Variants | Notes |
|---|---|---|---|
| AC500 Shrike Commander[7] | 1 | S | Twin Engine Piston |
| AC690 Turbine Commander[7] | 5 | A, B, C | Twin Engine Turbine |
| AC681 Turbine Commander | 1 | A | Twin Engine Turbine |
| K100 Daher Kodiak[7] | 4 | S | Single Engine Turbine |
| Pilatus PC-12[17] | 3 | PC-12 | Single Engine Turbine |
| de Havilland Canada DHC-6 Twin Otter | 1 | Series 300 | Twin Engine Turbine with Floats |
| FVR90 | 2 | Beyond Line of Sight (BLOS) Unmanned Aerial System (UAS) | |
| Canadair CL-415[7] | 10 | CL-415EAF[18][19] | Amphibious Water Bomber |
References
[edit]- ^ "Executive Team". Bridger Aerospace. Retrieved 9 April 2024.
- ^ a b c d Writer, Abby Lynes Chronicle Staff (8 September 2019). "Fighting fires and thwarting drones: Belgrade-based sister companies expanding". Bozeman Daily Chronicle. Retrieved 28 May 2020.
- ^ Katje, Chris. "Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Are Secretly Monitoring, But Not Yet Talking About". Benzinga. Retrieved 27 January 2023.
- ^ "BAER-Bridger Aerospace". GuruFocus. 12 June 2024.
- ^ "CEO Of Bridger Aerospace (BAER) On The Importance For Aerial Wildfire Fighting Services". TD Ameritrade Network. Retrieved 27 January 2023.
- ^ Record, AL KNAUBER Independent (27 August 2015). "Matter of valor: Former Navy SEAL awarded Bronze Star, Purple Heart". Helena Independent Record. Retrieved 27 January 2023.
- ^ a b c d e "Bridger Aerospace - Scooping to Success". AerialFire Magazine. November 2020. Retrieved 26 February 2021.
- ^ a b Wright, Michael (20 July 2018). "Drones becoming vital part of wildland firefighting". Bozeman Daily Chronicle. Retrieved 28 May 2020.
- ^ a b Krevat, Gaby (20 August 2019). "Bozeman high-tech firm provides jobs for veterans and Montana State University graduates". KBKZ. Retrieved 26 February 2021.
- ^ "Local company offers planes to support patients and healthcare workers". KHQ Right Now. 25 March 2020. Retrieved 28 May 2020.
- ^ "Bridger Aerospace makes face shields for Bozeman Health and emergency responders". KBZK. 17 April 2020. Retrieved 28 May 2020.
- ^ Evans, Cameron (8 April 2020). "Bridger Aerospace delivers face shields to Frenchtown firefighters". missoulian.com. Retrieved 28 May 2020.
- ^ Davidson, Marian (16 April 2020). "Bozeman company donates masks across western Montana". KECI. Retrieved 28 May 2020.
- ^ "Longview delivers first production Viking CL-415eaf Enhancel Aerial Firefighter to Launch Customer Bridger Aerospace Group". VikingAir. Retrieved 23 October 2023.
- ^ Reinhard, Beth; O'Connell, Jonathan (10 August 2024). "Montana GOP Senate candidate touts his business. It's losing millions". The Washington Post.
- ^ Magill, Jim (2 November 2020). "Fighting Wildfires with Drones: On the Front Lines with Bridger Aerospace". DRONELIFE. Retrieved 26 February 2021.
- ^ "2022 Brochure". Bridger Aerospace. Retrieved 23 May 2022.
- ^ Montana, Rachel Louise Just ABC FOX (30 September 2019). "Belgrade-based company expanding aerial firefighting fleet". KULR-8 Local News. Retrieved 28 May 2020.
- ^ "Bridger Aerospace receives the first Viking CL-415EAF". Fire Aviation. 18 April 2020. Retrieved 28 May 2020.