Electra.aero Secures $85M in Funding to Build ESTOL Prototype Written 27 January 2023
In this illustration, an Electra plane operated by Singapore charter company Yugo flies over the Manila Bay in the Philippines. | Credit: Electra.aero; Aerospace America–©
Aerospace America reports that Electra.aero has secured new funding, “including $30 million from the U.S. Air Force AFWERX program, to develop a full-scale prototype” of an electric short takeoff and landing aircraft (eSTOL). The terms of the $30 million award include meeting “undisclosed milestones toward building and operating its pre-production prototype” as well as matching the “government funds with private funds.” Electra.aero says “it has exceeded that match by raising an additional $55 million from private investment, for a total of $85 million.”
Full Story (Aerospace America)