DENVER, Colorado – October 31, 2017 – Chad Asarch, Principal with Steele Properties and the Monroe Group, has been appointed Vice Chairman of the Board of Directors of Bye Aerospace, a world leader in the development of solar-electric aircraft.
George Bye, CEO of Bye Aerospace, expressed his appreciation for Asarch’s contributions to the company and board. “Chad is one of our most active and enthusiastic directors and a strategic thinker,” Bye said. “He is a strong advocate for the StratoAirNet market. He recently returned from remote areas in the world where the aircraft could be particularly helpful and where it’s challenging to have a full infrastructure in place.”
Asarch, along with his two business partners, formed Steele Properties, a sister company to the Monroe Group, in 2006. Steele now owns and operates almost 5,000 apartment units nationally. Previously, he served as Senior Vice President and Associate General Counsel at Apartment Investment and Management Company (AIMCO, NYSE–AIV) as well as Secretary of AIMCO’s Investment Committee. At AIMCO, he negotiated and closed over $5 billion in property sales and acquisitions, oversaw all legal issues related to the company’s operations. He graduated from Williams College cum laude with honors and holds a J.D. magna cum laude from the University of Michigan. He is an Adjunct Law Professor for both the University of Colorado and the University of Denver Law Schools teaching Real Estate Transactions.
“I am honored to accept the position of Vice Chairman of this dynamic company,” Asarch noted, adding, “Bye Aerospace’s forward thinking vision and its innovative and commercially viable use of electric propulsion technology, particularly by harnessing the power of the sun, is on the leading edge of a major disruption to an aviation industry that has used internal combustion engines to power flight ever since Kitty Hawk.”
Bye Aerospace designs and builds advanced aircraft products for general aviation, aerospace and defense, near-space and atmospheric satellite markets. The company is also developing a family of electric aircraft, called “Sun Flyer 2” and “Sun Flyer 4,” with two and four seats, respectively. Sun Flyer is primarily targeted to the flight training market. A prototype for Sun Flyer 2 is in final ground test stage and preparing for first flight.
About Bye Aerospace:
Bye Aerospace is an innovator of sophisticated aerospace technology. The company, which was founded in 2007 by George Bye, is headquartered near Denver and brings advances in energy and design efficiencies to aerospace applications. For more information, go to www.ByeAerospace.com and www.GeorgeBye.com.