Vertical Aerospace says it has received an additional $205 million in funding to support the development and certification of its VA-X4 electric vertical takeoff and landing (eVTOL) aircraft.
Vertical Aerospace Secures $205 Million Toward eVTOL Development
Key Takeaways:
- Vertical Aerospace has secured an additional $205 million in funding, primarily from Mudrick Capital ($200M) and Kouros SA ($5M), to further the development and certification of its VA-X4 electric vertical takeoff and landing (eVTOL) aircraft.
- This capital injection comes as Vertical Aerospace anticipates a merger with special purpose acquisition company (SPAC) Broadstone Acquisition Corp., positioning it to go public by the end of the year.
- The funding will support the estimated $250 million cost required for the manufacturing and global certification of the VA-X4, which is expected by 2024.
- The VA-X4 eVTOL aircraft is designed for speeds over 200 mph and a range exceeding 100 miles, and the company has already reported 1,350 conditional pre-orders.
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