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Vertical Aerospace and Babcock International Partner to Explore New Variants for the VX4
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
partnership
Rhea-AI Summary
Vertical Aerospace (NYSE: EVTL) has partnered with Babcock International to explore new applications for its VX4 eVTOL aircraft in aerial emergency medical services (EMS) and cargo transportation. This collaboration aims to leverage Babcock's extensive EMS experience to enhance the operational capabilities of the VX4, which can travel over 100 miles at speeds exceeding 200 mph with zero emissions. The companies will also develop modular maintenance, repair, and overhaul (MRO) capabilities for the VX4, promoting cost-effective maintenance in challenging environments.
Positive
Partnership with Babcock aims to enhance VX4's applications in EMS and cargo transportation.
VX4's potential to reduce carbon impact and operational costs in emergency services.
Development of modular MRO capabilities to improve aircraft maintenance efficiency.
Negative
None.
Vertical’s VX4 to be reviewed for use in aerial emergency medical services (EMS) and cargo transportation
Babcock will lend its expertise as a global aerospace and defence business with extensive Emergency Medical Services (EMS) and Maintenance, Repair and Overhaul (MRO) experience
Vertical and Babcock to collaborate on development of MRO capabilities for the VX4
LONDON & NEW YORK--(BUSINESS WIRE)--
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announces a partnership with Babcock International (Babcock) [LON: BAB], the aerospace, defence and security company to explore new applications for its VX4 eVTOL aircraft.
The VX4 has proven demand in the passenger transportation markets from established airline customers including Virgin Atlantic, aircraft lessors such as Avolon, and helicopter and tourism operators such as Bristow and Iberojet. With today’s announcement, Vertical and Babcock will set up a Joint Working Group (JWG) to explore how to use the VX4 in new applications such as aerial EMS and cargo transportation. The VX4 has the potential to transform these types of operations and reduce their carbon impact at a lower overall cost.
The piloted zero operating emissions four-passenger VX4, is projected to be capable of travelling distances over 100 miles, achieving top speeds of over 200mph, while producing minimal noise and having a low cost per passenger mile.
Babcock has over thirty-five years of experience in EMS, performing thousands of missions every year globally, and is the largest single operator delivering helicopter emergency services (HEMS) in the UK. By reducing the medical response time, Babcock not only saves lives, but also significantly minimises the long-term effects of injuries. This will include reviewing how to use the VX4 in vital services such as attending accidents and providing emergency transport between hospitals.
The partnership will also see the two companies working on developing modular MRO capabilities to enable cost effective maintenance of the aircraft in both remote and challenging environments. The partnership will also see the two companies working on the development of modular MRO capabilities to maximise availability and enable cost effective maintenance of the VX4 in service. Leveraging Babcock’s experience in the defence industry, the partnership will also explore how the eVTOL concept may be expanded in the future to support the armed forces with medium range logistics delivery and casualty evacuation services.
Stephen Fitzpatrick, Founder & CEO, Vertical Aerospace, said “Climate change is the greatest challenge of our time. As with all other areas, the emergency services and logistics sectors must respond and adapt. I am delighted that Vertical Aerospace will be able support Babcock, a trusted provider of emergency response services, in their efforts to decarbonise their operations.”
Phil Craig, Managing Director of UK Aviation at Babcock, added: “Partnering with Vertical Aerospace not only enables us to harness our extensive digital and data expertise across Babcock, but also our reputation as a trusted MRO provider with a highly skilled workforce. As a business, we’re committed to reducing our carbon footprint and this partnership is an exciting step into the world of electric aircrafts. Exploring VX4’s technological capabilities allows us to understand how it can be used to deliver critical care and logistical support in challenging environments with zero emissions.”
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 and technology 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 engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.
Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book by value for more than 1,400 aircraft from global customers creating multiple potential near term and actionable routes to market. Customers include American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland, Gozen Holding and AirAsia, through Avolon’s VX4 placements.
Vertical’s ordinary shares and warrants commenced trading on the NYSE in December 2021 under the tickers “EVTL” and “EVTLW,” respectively.
About the VX4 eVTOL Aircraft
The piloted zero operating emissions four-passenger VX4, is projected to be capable of travelling distances over 100 miles, achieving top speeds of over 200mph, while producing minimal noise and has a low cost per passenger mile. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: vertical-aerospace.com
Babcock is an international aerospace, defence and security company, with a leading naval business, providing value add services across a range of countries, including the UK, France, Canada, Australia and South Africa. We help customers in the UK and around the world to improve the capability, reliability and availability of their most critical assets.
With over 35 years of experience in aerial emergency medical services (EMS), the most up-to-date fleet and equipment, the best qualified personnel, and medical bases in all our countries of operation, Babcock is trusted by its customers, including national and regional government bodies and charity organisations, to deliver these vital services.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the certification and the commercialization of the VX4 and related timelines, the differential strategy compared to its peer group, and the transition towards a net-zero emissions economy, expected financial performance and operational performance for the fiscal year ending December 31, 2022, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: Vertical’s limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; Vertical’s history of losses and the expectation to incur significant expenses and continuing losses for the foreseeable future; the market for eVTOL aircraft being in a relatively early stage; the potential inability of Vertical to produce or launch aircraft in the volumes and on timelines projected; the potential inability of Vertical to obtain the necessary certifications on the timelines projected; any accidents or incidents involving eVTOL aircraft could harm Vertical’s business; Vertical’s dependence on partners and suppliers for the components in its aircraft and for operational needs; the potential that certain of Vertical’s strategic partnerships may not materialize into long-term partnership arrangements; pre-orders Vertical has received for its aircraft are conditional and may be terminated at any time in writing prior to certain specified dates; any potential failure by Vertical to effectively manage its growth; the impact of COVID-19 on Vertical’s business; Vertical has identified material weaknesses in its internal controls over financial reporting and may be unable to remediate the material weaknesses; Vertical’s dependence on our senior management team and other highly skilled personnel; as a foreign private issuer Vertical follows certain home country corporate governance rules, is not subject to U.S. proxy rules and is subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on April 29, 2022, as such factors may be updated from time to time in Vertical’s other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Vertical disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
What is the new partnership announced by Vertical Aerospace and Babcock?
Vertical Aerospace has partnered with Babcock International to explore applications for the VX4 eVTOL aircraft in aerial EMS and cargo transportation.
What are the capabilities of the VX4 eVTOL aircraft?
The VX4 can travel over 100 miles and achieve speeds of over 200 mph while producing zero emissions and minimal noise.
How will the partnership benefit emergency medical services?
Babcock will leverage its extensive EMS experience to enhance the operational capabilities of the VX4, potentially reducing medical response times.
What is the significance of the modular MRO capabilities being developed?
The modular MRO capabilities will enable cost-effective maintenance of the VX4 in remote and challenging environments, maximizing aircraft availability.
