DENVER, Colorado – August 29, 2016 – Chad Asarch, Principal with Steele Properties and the Monroe Group, has joined the Board of Directors of Bye Aerospace, a world leader in the development of solar-electric aircraft.
“It is an honor to welcome Chad to our Board of esteemed business leaders,” said George Bye, CEO of Bye Aerospace. “His experience in overseeing complex financial transactions will be a valuable contribution as we assess future growth opportunities.”
Asarch, along with his two business partners, formed Steele Properties, a sister company to the Monroe Group, in 2006. Steele owns and operates over 4,000 apartment units. Previously, he served as Senior Vice President and Associate General Counsel at Apartment Investment and Management Company (AIMCO, NYSE--AIV). At AIMCO, Asarch also served as Secretary of its Investment Committee, where he negotiated and closed over $5 billion in property sales and acquisitions, oversaw all legal issues related to the company’s operations, and managed its 20-person legal department. He graduated from Williams College cum laude with honors and holds a J.D. magna cum laude from the University of Michigan where he served as an editor for the Michigan Law Review. He is an Adjunct Law Professor for the University of Colorado Law School where he teaches Real Estate Transactions, and serves on the school’s Curriculum Advisory Board.
“Having first been exposed to the potential of unmanned aerial vehicles while working in Washington over two decades ago, long before ‘drones’ became ubiquitous,” Asarch declared, “I am extremely eager to help Bye Aerospace continue its phenomenal growth and am honored to become part of such an exciting company focused on this amazing technology.”
One of Bye Aerospace’s primary programs, “StratoAirNet,” was recently shown to be valuable in extending the reach of theater of battle early warning and detection capabilities while providing a potential for significant savings in acquisition, operations and maintenance costs. StratoAirNet, Bye Aerospace’s concept for a high-altitude, long-endurance solar-electric aircraft, was successfully demonstrated virtually in the Advanced Concepts Event 2015 (ACE15) at the Air Force Research Laboratories, Kirtland Air Force Base, New Mexico.