Bristol’s electric ‘air taxi’ developer Vertical Aerospace secures €86.6 million in financing commitments
Vertical Aerospace, a Bristol-based aerospace tech company that builds all-electric, vertical take-off and landing aircraft (eVTOLs), has announced about €86.6 million ($100 million) in financing commitments from existing and new investors The financing is intended to support progress toward certification and commercialisation of Valo, its piloted, four-passenger eVTOL aircraft. “Following the…
Vertical Aerospace, an electric aircraft developer based in Bristol, has secured €86.6 million in financing to advance its Valo eVTOL aircraft development. The funds will support certification and commercialization efforts for the four-passenger, zero-emission aircraft. CEO Stuart Simpson highlighted the company's momentum in operational progress and partner engagement, noting that the financing will enable execution of the next phase of its plan.
The financing includes a €34.6 million draw from Mudrick Capital Management, a €30.3 million equity investment from new and existing investors, and a €21.6 million issuance from the company's preferred equity facility. These funds will be used for critical design review, expanding battery production capacity, and developing next-generation production capabilities, including a UK-based facility.
Vertical Aerospace has over 1,500 pre-orders for the Valo aircraft from customers worldwide, and the company plans to provide updated cash and liquidity guidance following its half-year results on August 13.
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