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Vertical Aerospace Ltd. (EVTL) is at the forefront of a revolution in air travel. The company is committed to making air travel personal, on-demand, and carbon-free. As a global aerospace and technology firm, Vertical Aerospace is pioneering electric aviation with a focus on designing, manufacturing, and selling zero operating emission eVTOL aircraft for the Advanced Air Mobility (AAM) market. Utilizing cutting-edge technology from the aerospace, automotive, and energy industries, Vertical Aerospace aims to deliver the future of air travel faster and more efficiently than its competitors.
At the heart of Vertical Aerospace's innovation is the VX4, a piloted electric vertical take-off and landing (eVTOL) vehicle that can carry four passengers. The VX4 is designed to provide a sustainable and efficient alternative to traditional air travel, with zero operating emissions, enhancing the potential for urban and regional air mobility.
The company operates as a single segment focused on the development and commercialization of eVTOL technology. Vertical Aerospace's dynamic and accomplished team is dedicated to advancing the frontiers of electric aviation, leveraging their expertise to create elegant and efficient engineering solutions.
Recent achievements for Vertical Aerospace include significant progress in the development and testing phases of the VX4, strategic partnerships with key players in the aerospace and automotive industries, and securing necessary certifications and approvals from aviation authorities. These milestones underscore Vertical Aerospace's commitment to delivering a new era of air travel that is both accessible and environmentally friendly.
Latest News: Stay updated with the most recent developments at Vertical Aerospace Ltd., including milestones in the VX4 project, new collaborations, financial performance updates, and other significant announcements. For more detailed and current information, please refer to the latest news sections provided by Vertical Aerospace Ltd.
Vertical Aerospace (NYSE: EVTL) has unveiled its next-generation full-scale VX4 prototype, an advanced electric take-off and landing vehicle (eVTOL) designed and built in the UK. This prototype features a 20% increase in power-to-weight ratio, enabling speeds up to 150mph. It incorporates technology from strategic partners like GKN Aerospace, Honeywell, and Leonardo, with 60% of components sourced from these partners.
The VX4 includes Vertical's proprietary battery technology, developed at their Vertical Energy Centre, and new carbon fiber composite propellers. The company is working with the UK Civil Aviation Authority (CAA) to obtain a Permit to Fly, after which it will begin a robust flight test programme. Vertical is also developing an identical prototype to accelerate testing and demonstration capabilities.
Vertical Aerospace, listed on NYSE with ticker EVTL, has announced an expanded scope of its Design Organisation Approval (DOA) by the UK Civil Aviation Authority (CAA). This extension allows Vertical’s engineers to sign off on more technical areas, streamlining the certification process for its VX4 aircraft. The CAA and the European Union Aviation Safety Agency (EASA) have agreed on collaborative procedures for the VX4's certification, aiming for concurrent validation. Vertical also has similar validation projects with five major regulatory agencies globally. The company will soon commence piloted flight tests for its most advanced full-scale VX4 prototype at Cotswold Airport.
Vertical Aerospace (NYSE: EVTL) reported financial results for Q1 2024, highlighting a net operating loss of £20 million, an improvement from last year's £23 million loss. The company secured a £10 million grant, bolstering their total grant funding to £47 million, and received an additional £19.5 million investment. The VX4 aircraft prototype is nearing completion, with test flights planned for later this year. Vertical's partnership with Rolls-Royce ended, but the financial impact is mitigated. The company plans further fundraising efforts in 2024 to meet capital requirements and address NYSE listing compliance issues, potentially through a reverse share split.
Vertical Aerospace has made leadership appointments to drive the certification and commercialization of its VX4 aircraft. Stuart Simpson, a seasoned executive, is appointed CEO, while the founder, Stephen Fitzpatrick, remains on the board. Ben Story, with extensive experience, joins the board. The company is preparing for a pivotal phase with the VX4 prototype nearing completion.
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