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:

Virginia-based startup Electra.aero secured an investment from Lockheed Martin Ventures to develop its hybrid-electric, ultra-short takeoff and landing (eSTOL) aircraft.
Electra's eSTOL aircraft differentiates itself with a hybrid-electric propulsion system that includes an in-flight turbine generator, eliminating the need for ground-charging infrastructure and offering improved payload and range.
Designed for versatility, the aircraft can carry 7-9 passengers or 1,800 lbs of cargo up to 500 miles from small spaces; Electra plans flight testing this year and targets FAA approval by 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.