Elroy Air names Jeremy Hux as CFO ahead of planned public listing

Elroy Air, a San Francisco-based developer of autonomous cargo drones, has appointed Jeremy Hux as Chief Financial Officer, effective immediately, as the company prepares to become publicly traded.

Hux brings more than 25 years of experience across investment banking and private equity, having previously worked at Morgan Stanley, Credit Suisse, and Marathon Capital, where he advised on more than $50 billion in financing and mergers and acquisitions transactions. He most recently served as CFO of UPSIDE Foods and, before that, as CFO of Manus Bio.

In his new role, Hux will oversee capital markets strategy, financial reporting, accounting, and treasury functions. He will work alongside CEO Andrew Clare as the company scales production of its Chaparral drone and moves toward a public market listing.

The appointment follows Elroy Air's June announcement that it entered into a definitive business combination agreement with Inflection Point Acquisition Corp. VII (Nasdaq: IPXG), a special purpose acquisition company affiliated with Cohen & Company (NYSE American: COHN). The transaction is expected to close in the fourth quarter of 2026, subject to regulatory and shareholder approval.

Elroy Air also recently received a multi-year U.S. Army contract worth up to $46 million and claims to be the first company to fly an uncrewed autonomous drone in the National Airspace System under the FAA and U.S. Department of Transportation's eVTOL Integration Pilot Program.

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