eSTOL Aircraft Maker Electra Secures New Investment, Signs Air Force Contract

Funding and agreement will speed development and commercialization of the company's aircraft, which takes off from runways as short as 150 feet.

Jack Daleo

Friday, August 04, 2023 at 02:46 PM ET

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Electra’s two-seater eSTOL demonstrator, unveiled in June. [Courtesy: Electra.aero]

Key Takeaways:

Electra.aero has secured significant funding, including an investment from Statkraft Ventures and an $85 million partnership with the U.S. Air Force's AFWERX, to advance its eSTOL aircraft development.
The company's hybrid-electric eSTOL aircraft features "blown-lift" technology, allowing it to take off and land in just 150 feet, with a 400 nm range and 175-knot speed.
Electra's aircraft aims for a simpler FAA Part 23 certification by 2028, offering superior payload, range, and lower operating costs compared to eVTOLs, with over 1,200 preorders for various global applications.

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As electric short takeoff and landing (eSTOL) aircraft manufacturer Electra.aero works to shorten the runway for others, the startup this week shortened its own runway to launch.

The company last week announced it secured an undisclosed investment from climate technology fund Statkraft Ventures to support the development and commercialization of its production aircraft, which is expected to require just 150 feet of takeoff and landing space.