Electric into the air: EU millions and purchase commitments for aircraft start-up Vaeridion
The development of electric aircraft is risky: Two well-known start-ups have already failed. A Munich-based company has secured the necessary cash for the next steps.
The EU and investors are providing over 120 million euros to support the development of an electric aircraft by Vaeridion, a five-year-old Munich-based start-up. The company has secured 30 million euros from venture capitalists and 94.5 million euros from the European Commission's Innovation Fund. Vaeridion is developing a nine-seat passenger plane called the "Microliner" for regional flights, with 130 purchase commitments already in place.
The funding will enable Vaeridion to build a prototype and set up production at Oberpfaffenhofen Airport, near a major German aerospace research centre. The electric plane is designed to offer lower operating costs and could make regional flights more affordable.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
