Vertical Aerospace recruits new COO from Rolls-Royce

Rhea-AI Summary

Vertical Aerospace has appointed Harry Holt as Chief Operating Officer, enhancing its leadership team ahead of the VA-X4 eVTOL aircraft production. The company has secured conditional pre-orders for up to 1,350 aircraft from major clients like American Airlines and Bristow. Harry Holt, formerly of Rolls-Royce, will implement operational strategies and oversee government relations. This appointment solidifies Vertical's partnership with Rolls-Royce, which provides the electrical technology for the VA-X4, aiming for a sustainable future in aviation.

Positive

• Appointment of Harry Holt as COO to drive operational strategy.
• Secured conditional pre-orders for up to 1,350 aircraft from major clients.
• Strengthened partnership with Rolls-Royce for electric technology.
• Focus on achieving net zero emissions with the VA-X4.

Negative

• None.

BRISTOL, United Kingdom, Oct. 5, 2021 /PRNewswire/ -- Vertical Aerospace ("Vertical"), the aerospace and technology company that is pioneering electric aviation, announces the appointment of Harry Holt as Chief Operating Officer. The announcement further strengthens Vertical's senior leadership team which is well-balanced and draws from industry leaders in the aviation, energy, engineering and technology sectors. Vertical has already received conditional pre-orders for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market. In June 2021, Vertical announced a SPAC merger with Broadstone Acquisition Corp (NYSE: BSN).

Harry is joining Vertical from his current role as Chief People Officer at Rolls-Royce, one of the world's leading industrial technology companies and which has decades of experience in powering the global aviation sector. Harry served as a member of the Rolls-Royce executive team managing its people strategy and with responsibility for over 50,000 employees globally. Previously, he led Rolls-Royce's Nuclear Business in support of the Royal Navy's Submarine Programme and the Civil Nuclear power markets worldwide, as well as previously being Group Operations Strategy Director. Harry began his career in the British Army, fulfilling some of the most demanding roles both as a commander on combat operations and as a strategic planner in the UK Ministry of Defence.

As COO, Harry will focus on implementing Vertical's operational and manufacturing strategy, establishing its governance, control, and assurance framework, and leading the business' government relations efforts. This will be a crucial role as Vertical continues to deliver on key operational milestones in the production of the VA-X4, Vertical's market leading, zero operating emissions eVTOL.

Rolls-Royce is a strategic partner for Vertical and is supplying the electrical technology that will power the VA-X4. The announcement today strengthens the relationship between the two companies and highlights their coordination and sharing of world-class expertise as they develop industry-leading technologies that will pioneer electric aviation.

Stephen Fitzpatrick said, "Harry brings extensive expertise of managing organisations operating at scale and speed, and is an outstanding addition to our team as we enter the next phase of growth. We are delighted to add Harry to our experienced team which we have carefully assembled to commercialise the VA-X4,  the eVTOL that will transform travel in the coming decade."

Harry Holt said, "It is an exciting time to join the high calibre team that Vertical has assembled. It is clear that the VA-X4 is going to revolutionise short-haul air travel. I am proud have the opportunity to play a part in transforming aviation while also delivering on our objective to achieve a net zero economy."

About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy group and Europe's largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.

Vertical's unrivalled top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification, allow for a lean cost structure and enable production at scale. Vertical has received conditional pre-orders for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market. In June 2021, Vertical announced a SPAC merger with Broadstone Acquisition Corp (NYSE: BSN).

About VA-X4 eVTOL Aircraft
The four passenger, one pilot VA-X4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. The VA-X4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: www.vertical-aerospace.com

About Broadstone Acquisition Corp.
Broadstone Acquisition Corp. (NYSE: BSN) was set up by serial entrepreneurs, operators and investors, Hugh Osmond, Edward Hawkes and Marc Jonas. It was established to combine with a UK/European business with a strong management team, significant growth prospects, and the opportunity to become a market leader in its sector. Broadstone's executive team has an extensive track record in value creation. The combination of a strong internal team, a network of external resources and the experience of the management team enables us to support rapid, substantial, and lasting growth.

For more information

Vertical Aerospace – UK/Europe - Nepean 
Gavin Davis -  gdavis@nepean.co.uk  
Samuel Emden - semden@nepean.co.uk / +447816 459 904 

Vertical Aerospace – USA - FTI 
Hamm Hooper & Kayt Pitts – verticalaerospace@fticonsulting.com / +1 773 786 7286

Broadstone - Edelman  
Iain Dey - Broadstone@Edelman.com / +44 7976 295906 

View original content to download multimedia:https://www.prnewswire.com/news-releases/vertical-aerospace-recruits-new-coo-from-rolls-royce-301392172.html

SOURCE Vertical Aerospace

FAQ

Who is the new COO of Vertical Aerospace?

Harry Holt has been appointed as the new COO of Vertical Aerospace.

What is the significance of Harry Holt's appointment for Vertical Aerospace?

Harry Holt's appointment is expected to enhance Vertical's operational strategy and leadership.

How many aircraft pre-orders has Vertical Aerospace secured?

Vertical Aerospace has secured conditional pre-orders for up to 1,350 aircraft.

What is the partnership between Vertical Aerospace and Rolls-Royce?

Rolls-Royce supplies the electrical technology for the VA-X4 aircraft, strengthening their strategic partnership.

When was the SPAC merger with Broadstone Acquisition Corp announced?

The SPAC merger with Broadstone Acquisition Corp was announced in June 2021.