Electra.aero Secures $85M in Funding to Build ESTOL Prototype Written 27 January 2023

Electra-Aero-aircraft

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)