Lockheed Martin Invests in eSTOL Startup Electra

Virginia-based startup Electra.aero says it has secured a key investment from Lockheed Martin as it seeks to develop a hybrid electric, ultra-short takeoff and landing (eSTOL) aircraft.

FLYING Staff

Thursday, January 20, 2022 at 02:18 PM ET

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Lockheed Martin Ventures invests in Electra’s Series A funding round to support flight testing Electra’s hybrid-electric eSTOL aircraft full-scale technology demonstrator in 2022. [Courtesy: Electra]

Key Takeaways:

Electra.aero secured a Series A investment from Lockheed Martin Ventures to develop its hybrid-electric, ultra-short takeoff and landing (eSTOL) aircraft.
The eSTOL aircraft uses hybrid-electric propulsion with a turbine generator for mid-flight battery recharging, enabling operation from small spaces (300x100 ft) and offering increased range and payload without new ground infrastructure.
Designed for versatile missions, the aircraft aims to transport up to 1,800 pounds of cargo or 7-9 passengers up to 500 miles, with flight testing planned for this year and FAA approval targeted for 2026, supported by partnerships with the U.S. Air Force and NASA.

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Virginia-based startup Electra.aero says it has secured a key investment from Lockheed Martin as it seeks to develop a hybrid electric, ultra-short takeoff and landing (eSTOL) aircraft.

The announcement, made this week, did not disclose the amount of the investment from Lockheed Martin Ventures—the venture capital arm of Lockheed Martin Corp. (NYSE:LMT)—but Electra says it is part of its Series A funding round.