Latest news with #Flightpath2030
Yahoo
27-05-2025
- Business
- Yahoo
Vertical Aerospace Makes Aviation History with Piloted eVTOL Flight in Open Airspace
First-ever piloted wingborne flight of a winged eVTOL in European open airspace Landmark flight follows approval from the UK Civil Aviation Authority, an important step on its path toward certification and commercial operation 30,000 in-flight parameters and data points measured, with the aircraft flying as expected On track to complete piloted transition flight in 2H 2025 LONDON & NEW YORK, May 27, 2025--(BUSINESS WIRE)--Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering electric aviation, today announced it has made European aviation history with the first-ever piloted wingborne flight of a winged electric vertical take-off and landing (eVTOL) aircraft in open airspace. The landmark flight of the VX4 prototype, piloted by Chief Test Pilot Simon Davies, saw the aircraft take-off, fly and land like a conventional aircraft, with lift generated by the wing. Soaring across the UK countryside from Cotswold Airport, the VX4 prototype demonstrated controlled wingborne flight in open airspace for the first time, marking a critical step toward commercial deployment as part of Vertical's Flightpath 2030 strategy. The UK Civil Aviation Authority (CAA) approved the flight through open airspace at Cotswold Airport, the UK's largest private airport, by extending Vertical's Permit to Fly. This followed a rigorous review of tens of thousands of pages of safety and technical documentation. Chief Test Pilot, Simon Davies, said: "Taking the aircraft beyond the airfield and cruising over the Cotswolds for the first time was truly special and a career highlight for me. Our performance predictions were absolutely spot on, and the aircraft took off as a natural extension of all the ground tests and preparation we've done. There are aircraft which are safe and capable but not always enjoyable to fly. The VX4 was not only safe but was an absolute pleasure. It is responsive, smooth, simple to operate and the sound level from the propellers is quiet and pleasant in the cockpit. An honour to fly, and a real testament to the incredible team behind it." Vertical is currently the only company globally flying a piloted winged eVTOL prototype that's been developed under a Design Organisation Approval (DOA) from the CAA – a DOA is required to hold a Type Certificate, required for commercial passenger operations. The CAA is working closely with the European Union Aviation Safety Agency (EASA) for their concurrent validation and certifying the VX4 to the highest safety standards required for commercial use. Stuart Simpson, CEO, Vertical Aerospace, said: "Achieving piloted wingborne flight in open airspace under the oversight of the UK CAA is an important moment in our certification journey. Operating under the UK's rigorous regulatory framework means we share the burden of safety with our regulator - every step must be approved, and that's by design. It amounts to a mini certification of our prototype and gives us a clearer, faster path to type certification. Our decision to put a pilot into the VX4 early was deliberate - real-world piloted flight delivers insights no simulation can. This milestone proves the capability of the aircraft and the maturity of our programme as we move toward commercial operations." Advancing the UK's world-class aerospace sector This achievement has also been supported by early UK government investment through programmes including the Aerospace Technology Institute and the Future Flight Challenge. These initiatives have contributed to the development of Vertical's technology and flight test campaign, and form part of wider efforts to advance the UK's net zero and aerospace ambitions. UK Secretary of State for Business and Trade, Jonathan Reynolds, said: "This is a fantastic milestone for Vertical and for the UK's world-class aerospace sector. Breakthroughs like this show how government and business can work together to keep the UK at the cutting edge of innovation. Our modern Industrial Strategy will double down on this success by giving investors the confidence they need to back UK advanced manufacturing for the long term, bringing good, green jobs and growth across the UK as part of our Plan for Change." What is the Significance of Wingborne Flight? In Phase 3 of testing – wingborne flight – the VX4 operates like a conventional aircraft using lift generated by its wings, rather than relying solely on rotor thrust. This low-power, quiet, and range-efficient mode of flight is key to making electric air travel practical, scalable, and economically viable. Jim Currier, President and CEO, Honeywell Aerospace Technologies, said: "This significant achievement underscores the ability of our partnership to unlock new and innovative modes of transport, and we are proud Honeywell Anthem avionics and flight control computers and software could play a key role in supporting such a defining moment for the industry." David Stepanek, EVP & CTO, Bristow Group, said: "The VX4's successful demonstration of wingborne flight marks a significant step towards commercial readiness. As the global leader in innovative and sustainable vertical lift, we look forward to continuing to partner with Vertical to unleash the disruptive advantages of this aircraft." Jill Blickstein, Vice President of Sustainability, at American Airlines, said: "This milestone is a key step toward safely scaling electric aviation, which we believe will play a key role in the future of our industry. We're proud of Vertical's progress toward sustainable travel." By achieving stable and controlled wingborne flight, Vertical has taken a significant step toward the next major milestone: a full piloted transition flight, expected in the second half of 2025. This will demonstrate the VX4's ability to shift seamlessly between vertical lift and forward cruise – the operating mode it will use in passenger service. During the wingborne flight phase, the VX4 will reach speeds of up to 150 mph (120 knots) and altitudes close to 2,000 ft under real-world conditions. Engineers captured more than 30,000 in-flight data parameters, confirming the aircraft performed exceptionally across stability, control, and energy usage. A Foundation Built on Rigorous Testing To prepare for piloted wingborne flights, Vertical completed thousands of hours of lab, simulation, and high speed ground testing, including: 7.2 million fatigue cycles on each propeller blade to simulate lifespan loads over the flight test campaign 15.2 metre battery pack drop test, comparable to fuel-tank testing in traditional rotorcraft Full-scale thermal runaway propagation test on a VX4 sub-pack, indicating safe flight and landing is possible even in the event of a battery fire Over 3,000 hours of component and integration testing on flight control computers to ensure system reliability and performance Notes to editors Vertical's piloted flight test programme explainer: Phase 1: Tethered: the VX4 prototype will perform stabilised hover while loosely tethered to the ground. COMPLETE 12 September 2024 Phase 2: Thrustborne: the VX4 prototype will take-off and land vertically and conduct low speed flight manoeuvres with lift generated by the propellers. COMPLETE 4 February 2025 Phase 3: Wingborne: the VX4 prototype will take-off, fly and land like a conventional aircraft, with lift generated by the wing. COMMENCED 22 May 2025 Phase 4: Transition: the VX4 prototype will transition between thrustborne and wingborne flight, and vice versa. Expected before YE 2025 About Vertical Aerospace Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel. Vertical's VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical will also be launching a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market. Vertical combines partnering with leading aerospace companies, including GKN, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL. Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, the epicentre of the UK's aerospace industry, Vertical's experienced leadership team comes from top tier automotive and aerospace companies such as Rolls-Royce, Airbus, GM and Leonardo. Together they have previously certified and supported over 30 different civil and military aircraft and propulsion systems. 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 release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the design and manufacture of the VX4, the features and capabilities of the VX4, business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, completion of the piloted test programme phases, selection of suppliers, certification and the commercialization of the VX4 and the hybrid-electric VX4 variant and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the potential exercise of the Tranche A Warrants following the satisfaction of the performance conditions and the proceeds issued from such potential exercise, as well as statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate," "will," "aim," "potential," "continue," "is/are likely to" and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, our limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; our potential inability to raise additional funds when we need or want them, or at all, to fund our operations; our limited cash and cash equivalents and recurring losses from our operations raise significant doubt (or raise substantial doubt as contemplated by PCAOB standards) regarding our ability to continue as a going concern; our potential inability to produce or launch aircraft in the volumes or timelines projected; the potential inability to obtain the necessary certifications for production and operation within any projected timeline, or at all; the inability for our aircraft to perform at the level we expect and may have potential defects; our 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; any accidents or incidents involving eVTOL aircraft could harm our business; our dependence on partners and suppliers for the components in our aircraft and for operational needs; the potential that certain strategic partnerships may not materialize into long-term partnership arrangements; all of the pre-orders received are conditional and may be terminated at any time and any predelivery payments may be fully refundable upon certain specified dates; any circumstances; any potential failure to effectively manage our growth; our inability to recruit and retain senior management and other highly skilled personnel; we have previously identified material weaknesses in our internal controls over financial reporting which if we fail to properly remediate, could adversely affect our results of operations, investor confidence in us and the market price of our ordinary shares; as a foreign private issuer we follow certain home country corporate governance rules, are not subject to U.S. proxy rules and are 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 important factors discussed under the caption "Risk Factors" in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC") on March 11, 2025, as such factors may be updated from time to time in the Company's other filings with the SEC. Any forward-looking statements contained in this release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. the Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this release whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. View source version on Contacts For more information: Justin Bates, Head of Communications +44 7878 357 463Samuel Emden, Head of Investor Affairs +44 7816 459 904 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
27-05-2025
- Business
- Business Wire
Vertical Aerospace Makes Aviation History with Piloted eVTOL Flight in Open Airspace
LONDON & NEW YORK--(BUSINESS WIRE)--Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering electric aviation, today announced it has made European aviation history with the first-ever piloted wingborne flight of a winged electric vertical take-off and landing (eVTOL) aircraft in open airspace. The landmark flight of the VX4 prototype, piloted by Chief Test Pilot Simon Davies, saw the aircraft take-off, fly and land like a conventional aircraft, with lift generated by the wing. Soaring across the UK countryside from Cotswold Airport, the VX4 prototype demonstrated controlled wingborne flight in open airspace for the first time, marking a critical step toward commercial deployment as part of Vertical's Flightpath 2030 strategy. The UK Civil Aviation Authority (CAA) approved the flight through open airspace at Cotswold Airport, the UK's largest private airport, by extending Vertical's Permit to Fly. This followed a rigorous review of tens of thousands of pages of safety and technical documentation. Chief Test Pilot, Simon Davies, said: " Taking the aircraft beyond the airfield and cruising over the Cotswolds for the first time was truly special and a career highlight for me. Our performance predictions were absolutely spot on, and the aircraft took off as a natural extension of all the ground tests and preparation we've done. There are aircraft which are safe and capable but not always enjoyable to fly. The VX4 was not only safe but was an absolute pleasure. It is responsive, smooth, simple to operate and the sound level from the propellers is quiet and pleasant in the cockpit. An honour to fly, and a real testament to the incredible team behind it.' Vertical is currently the only company globally flying a piloted winged eVTOL prototype that's been developed under a Design Organisation Approval (DOA) from the CAA – a DOA is required to hold a Type Certificate, required for commercial passenger operations. The CAA is working closely with the European Union Aviation Safety Agency (EASA) for their concurrent validation and certifying the VX4 to the highest safety standards required for commercial use. Stuart Simpson, CEO, Vertical Aerospace, said:"Achieving piloted wingborne flight in open airspace under the oversight of the UK CAA is an important moment in our certification journey. Operating under the UK's rigorous regulatory framework means we share the burden of safety with our regulator - every step must be approved, and that's by design. It amounts to a mini certification of our prototype and gives us a clearer, faster path to type certification. Our decision to put a pilot into the VX4 early was deliberate - real-world piloted flight delivers insights no simulation can. This milestone proves the capability of the aircraft and the maturity of our programme as we move toward commercial operations." Advancing the UK's world-class aerospace sector This achievement has also been supported by early UK government investment through programmes including the Aerospace Technology Institute and the Future Flight Challenge. These initiatives have contributed to the development of Vertical's technology and flight test campaign, and form part of wider efforts to advance the UK's net zero and aerospace ambitions. UK Secretary of State for Business and Trade, Jonathan Reynolds, said: 'This is a fantastic milestone for Vertical and for the UK's world-class aerospace sector. Breakthroughs like this show how government and business can work together to keep the UK at the cutting edge of innovation. Our modern Industrial Strategy will double down on this success by giving investors the confidence they need to back UK advanced manufacturing for the long term, bringing good, green jobs and growth across the UK as part of our Plan for Change.' What is the Significance of Wingborne Flight? In Phase 3 of testing – wingborne flight – the VX4 operates like a conventional aircraft using lift generated by its wings, rather than relying solely on rotor thrust. This low-power, quiet, and range-efficient mode of flight is key to making electric air travel practical, scalable, and economically viable. Jim Currier, President and CEO, Honeywell Aerospace Technologies, said: 'This significant achievement underscores the ability of our partnership to unlock new and innovative modes of transport, and we are proud Honeywell Anthem avionics and flight control computers and software could play a key role in supporting such a defining moment for the industry.' David Stepanek, EVP & CTO, Bristow Group, said: 'The VX4's successful demonstration of wingborne flight marks a significant step towards commercial readiness. As the global leader in innovative and sustainable vertical lift, we look forward to continuing to partner with Vertical to unleash the disruptive advantages of this aircraft.' Jill Blickstein, Vice President of Sustainability, at American Airlines, said: "This milestone is a key step toward safely scaling electric aviation, which we believe will play a key role in the future of our industry. We're proud of Vertical's progress toward sustainable travel.' By achieving stable and controlled wingborne flight, Vertical has taken a significant step toward the next major milestone: a full piloted transition flight, expected in the second half of 2025. This will demonstrate the VX4's ability to shift seamlessly between vertical lift and forward cruise – the operating mode it will use in passenger service. During the wingborne flight phase, the VX4 will reach speeds of up to 150 mph (120 knots) and altitudes close to 2,000 ft under real-world conditions. Engineers captured more than 30,000 in-flight data parameters, confirming the aircraft performed exceptionally across stability, control, and energy usage. A Foundation Built on Rigorous Testing To prepare for piloted wingborne flights, Vertical completed thousands of hours of lab, simulation, and high speed ground testing, including: 7.2 million fatigue cycles on each propeller blade to simulate lifespan loads over the flight test campaign 15.2 metre battery pack drop test, comparable to fuel-tank testing in traditional rotorcraft Full-scale thermal runaway propagation test on a VX4 sub-pack, indicating safe flight and landing is possible even in the event of a battery fire Over 3,000 hours of component and integration testing on flight control computers to ensure system reliability and performance Notes to editors Vertical's piloted flight test programme explainer: Phase 1: Tethered: the VX4 prototype will perform stabilised hover while loosely tethered to the ground. COMPLETE 12 September 2024 Phase 2: Thrustborne: the VX4 prototype will take-off and land vertically and conduct low speed flight manoeuvres with lift generated by the propellers. Phase 3: Wingborne: the VX4 prototype will take-off, fly and land like a conventional aircraft, with lift generated by the wing. COMMENCED 22 May 2025 Phase 4: Transition: the VX4 prototype will transition between thrustborne and wingborne flight, and vice versa. Expected before YE 2025 About Vertical Aerospace Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel. Vertical's VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical will also be launching a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market. Vertical combines partnering with leading aerospace companies, including GKN, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL. Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, the epicentre of the UK's aerospace industry, Vertical's experienced leadership team comes from top tier automotive and aerospace companies such as Rolls-Royce, Airbus, GM and Leonardo. Together they have previously certified and supported over 30 different civil and military aircraft and propulsion systems. 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 release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the design and manufacture of the VX4, the features and capabilities of the VX4, business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, completion of the piloted test programme phases, selection of suppliers, certification and the commercialization of the VX4 and the hybrid-electric VX4 variant and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the potential exercise of the Tranche A Warrants following the satisfaction of the performance conditions and the proceeds issued from such potential exercise, as well as statements that include the words 'expect,' 'intend,' 'plan,' 'believe,' 'project,' 'forecast,' 'estimate,' 'may,' 'should,' 'anticipate,' 'will,' 'aim,' 'potential,' 'continue,' 'is/are likely to' and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, our limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; our potential inability to raise additional funds when we need or want them, or at all, to fund our operations; our limited cash and cash equivalents and recurring losses from our operations raise significant doubt (or raise substantial doubt as contemplated by PCAOB standards) regarding our ability to continue as a going concern; our potential inability to produce or launch aircraft in the volumes or timelines projected; the potential inability to obtain the necessary certifications for production and operation within any projected timeline, or at all; the inability for our aircraft to perform at the level we expect and may have potential defects; our 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; any accidents or incidents involving eVTOL aircraft could harm our business; our dependence on partners and suppliers for the components in our aircraft and for operational needs; the potential that certain strategic partnerships may not materialize into long-term partnership arrangements; all of the pre-orders received are conditional and may be terminated at any time and any predelivery payments may be fully refundable upon certain specified dates; any circumstances; any potential failure to effectively manage our growth; our inability to recruit and retain senior management and other highly skilled personnel; we have previously identified material weaknesses in our internal controls over financial reporting which if we fail to properly remediate, could adversely affect our results of operations, investor confidence in us and the market price of our ordinary shares; as a foreign private issuer we follow certain home country corporate governance rules, are not subject to U.S. proxy rules and are 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 important factors discussed under the caption 'Risk Factors' in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ('SEC') on March 11, 2025, as such factors may be updated from time to time in the Company's other filings with the SEC. Any forward-looking statements contained in this release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. the Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this release whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
Yahoo
12-05-2025
- Automotive
- Yahoo
Vertical Aerospace Announces 1,000-mile Hybrid-Electric VTOL Programme to Serve Defence, Logistics and Wider Commercial Markets
Integrating hybrid-electric propulsion capabilities into Vertical's next-generation aircraft prototype, unlocking multi-billion-dollar opportunities including defence, logistics and wider commercial applications Actively discussing use cases and defence special mission applications with government agencies and potential customers New long-range variant will be adapted from the all-electric VX4, targeted for certification to the highest safety standards in 2028 Uniquely positioned to capture deep share of global market with exportable, scalable offering LONDON & NEW YORK, May 12, 2025--(BUSINESS WIRE)--Vertical Aerospace ("Vertical") (NYSE: EVTL) today announced it is developing a hybrid-electric vertical-take-off-and landing (VTOL) variant of its VX4 aircraft, expanding range and payload capabilities to unlock new market opportunities within the already sizable $1TR1 total addressable urban air mobility market. Vertical's hybrid-electric strategy builds on its all-electric VX4 and Flightpath 2030 strategy, enabling new potential applications in defence, logistics and commercial sectors including air ambulance services, which require longer range and higher payload than current eVTOL platforms can deliver. Vertical's second-generation hybrid-propulsion system, which has been in development for 18 months at the Vertical Energy Centre, will be retrofitted into one of the company's VX4 full scale prototypes and is expected to commence flight testing in Q2 2026. Key targeted capabilities of Vertical's hybrid-electric variant: Range: Up to 1,000 miles, a 10-fold increase from its all-electric aircraft. Payload: Configurable to carry up to 1,100 kilograms in the VX4's class-leading airframe capacity. Stealth advantages: Low noise and heat signatures make the hybrid variant well-suited for sensitive missions. Crewed and uncrewed capabilities: Hybrid-electric technology capable of being deployed autonomously, remotely, or with a pilot. Uncrewed capabilities can be seamlessly integrated into the existing Flight Control System being developed by Honeywell. Mission resilience: Built off the VX4's industry-leading redundancy and damage tolerance, boosting confidence for mission-critical operations. "The demand for long-range, high-payload, quiet aircraft is growing rapidly - especially across defense and critical logistics." said Stuart Simpson, CEO of Vertical Aerospace. "Our hybrid-electric VTOL strategy builds on our existing electric platform, world-class battery technology and large, versatile airframe, allowing us to offer uniquely scalable solutions that unlock a new frontier in air mobility and revenue stream for Vertical." Best-in-class hybrid-electric potential enabled by proprietary battery technology and airframe Vertical's proprietary battery platform, developed at its purpose-built Vertical Energy Centre, is a critical component of its hybrid-electric capability. Vertical's battery will help power the superior hybrid range and payload capabilities, enabling best-in-class performance for mission-critical use cases. Vertical's hybrid team has developed advanced control systems supporting safe operation and redundancy, meeting strict European Union Aviation Safety Agency (EASA) and UK Civil Aviation Authority (CAA) safety standards for eVTOL flight. Bench testing has already validated its hybrid-electric architecture, including the successful integration of control algorithms between the power unit and battery. The VX4's large and flexible airframe enables the integration of hybrid-electric propulsion technology and superior payload capacity without requiring major redesign. This design freedom supports both operational scalability and mission versatility - advantages that smaller platforms may struggle to accommodate. Uniquely positioned to meet the growing defence needs across Europe As the only remaining credible European eVTOL company, Vertical's hybrid-electric capabilities position it as a key player amid growing defence budgets and increasing focus on sovereign industrial capacity. As European governments increasingly look to develop new technologies and platforms to strengthen their defence capabilities, Vertical is actively engaged in discussions with government agencies, as well as other prospective customers, around defence applications and other potential use cases for its hybrid-electric aircraft. Building on all electric VX4 and Flightpath 2030 The hybrid-electric variant will be in addition to Vertical's all-electric VX4, which remains on target for its Flightpath 2030 goal of Type Certification in the UK and Europe in 2028, followed by validation by global regulatory authorities. About Vertical Aerospace Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel. Vertical's VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical combines partnering with leading aerospace companies, including GKN, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL. Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, the epicentre of the UK's aerospace industry, Vertical's experienced leadership team comes from top tier automotive and aerospace companies such as Rolls-Royce, Airbus, GM and Leonardo. Together they have previously certified and supported over 30 different civil and military aircraft and propulsion systems. 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 release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, our ability to integrate hybrid technology into the VX4 on any particular timelines or at all, the ability of the hybrid-electric VX4 variant VX4 to be applied in defense, cargo, logistics and emergency services sectors, our ability to scale the hybrid-electric VX4 upon the VX4, the design and manufacture of the VX4, certification and the commercialization of the both the VX4 and the hybrid-electric VX4 variant and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the features and capabilities of the VX4 and the hybrid-electric VX4 variant, trends in sovereign defense budgets, business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, completion of the piloted test programme phases, selection of suppliers, as well as statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate," "will," "aim," "potential," "continue," "is/are likely to" and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation: our limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; our potential inability to raise additional funds when we need or want them, or at all, to fund our operations; our limited cash and cash equivalents and recurring losses from our operations raise significant doubt (or raise substantial doubt as contemplated by PCAOB standards) regarding our ability to continue as a going concern; our potential inability to produce or launch aircraft in the volumes or timelines projected; the potential inability to obtain the necessary certifications for production and operation within any projected timeline, or at all; the inability for our aircraft to perform at the level we expect and may have potential defects; our 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; any accidents or incidents involving eVTOL aircraft could harm our business; our dependence on partners and suppliers for the components in our aircraft and for operational needs; the potential that certain strategic partnerships may not materialize into long-term partnership arrangements; all of the pre-orders received are conditional and may be terminated at any time and any predelivery payments may be fully refundable upon certain specified dates; any circumstances; any potential failure to effectively manage our growth; our inability to recruit and retain senior management and other highly skilled personnel; we have previously identified material weaknesses in our internal controls over financial reporting which if we fail to properly remediate, could adversely affect our results of operations, investor confidence in us and the market price of our ordinary shares; as a foreign private issuer we follow certain home country corporate governance rules, are not subject to U.S. proxy rules and are 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 the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC") on March 11, 2025, as such factors may be updated from time to time in the Company's other filings with the SEC. Any forward-looking statements contained in this release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this release whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. 1 Morgan Stanley "eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky's the Limit" (May 6, 2021). View source version on Contacts Vertical Aerospace Media Contact Justin Bates, Head of Communications+44 7878 357 Vertical Aerospace Investor Relations Samuel Emden, Head of Investor Affairs+44 7816 459 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
12-05-2025
- Automotive
- Business Wire
Vertical Aerospace Announces 1,000-mile Hybrid-Electric VTOL Programme to Serve Defence, Logistics and Wider Commercial Markets
LONDON & NEW YORK--(BUSINESS WIRE)--Vertical Aerospace ('Vertical') (NYSE: EVTL) today announced it is developing a hybrid-electric vertical-take-off-and landing (VTOL) variant of its VX4 aircraft, expanding range and payload capabilities to unlock new market opportunities within the already sizable $1TR 1 total addressable urban air mobility market. Vertical's hybrid-electric strategy builds on its all-electric VX4 and Flightpath 2030 strategy, enabling new potential applications in defence, logistics and commercial sectors including air ambulance services, which require longer range and higher payload than current eVTOL platforms can deliver. Vertical's second-generation hybrid-propulsion system, which has been in development for 18 months at the Vertical Energy Centre, will be retrofitted into one of the company's VX4 full scale prototypes and is expected to commence flight testing in Q2 2026. Key targeted capabilities of Vertical's hybrid-electric variant: Range: Up to 1,000 miles, a 10-fold increase from its all-electric aircraft. Payload: Configurable to carry up to 1,100 kilograms in the VX4's class-leading airframe capacity. Stealth advantages: Low noise and heat signatures make the hybrid variant well-suited for sensitive missions. Crewed and uncrewed capabilities: Hybrid-electric technology capable of being deployed autonomously, remotely, or with a pilot. Uncrewed capabilities can be seamlessly integrated into the existing Flight Control System being developed by Honeywell. Mission resilience: Built off the VX4's industry-leading redundancy and damage tolerance, boosting confidence for mission-critical operations. 'The demand for long-range, high-payload, quiet aircraft is growing rapidly - especially across defense and critical logistics.' said Stuart Simpson, CEO of Vertical Aerospace. 'Our hybrid-electric VTOL strategy builds on our existing electric platform, world-class battery technology and large, versatile airframe, allowing us to offer uniquely scalable solutions that unlock a new frontier in air mobility and revenue stream for Vertical.' Best-in-class hybrid-electric potential enabled by proprietary battery technology and airframe Vertical's proprietary battery platform, developed at its purpose-built Vertical Energy Centre, is a critical component of its hybrid-electric capability. Vertical's battery will help power the superior hybrid range and payload capabilities, enabling best-in-class performance for mission-critical use cases. Vertical's hybrid team has developed advanced control systems supporting safe operation and redundancy, meeting strict European Union Aviation Safety Agency (EASA) and UK Civil Aviation Authority (CAA) safety standards for eVTOL flight. Bench testing has already validated its hybrid-electric architecture, including the successful integration of control algorithms between the power unit and battery. The VX4's large and flexible airframe enables the integration of hybrid-electric propulsion technology and superior payload capacity without requiring major redesign. This design freedom supports both operational scalability and mission versatility - advantages that smaller platforms may struggle to accommodate. Uniquely positioned to meet the growing defence needs across Europe As the only remaining credible European eVTOL company, Vertical's hybrid-electric capabilities position it as a key player amid growing defence budgets and increasing focus on sovereign industrial capacity. As European governments increasingly look to develop new technologies and platforms to strengthen their defence capabilities, Vertical is actively engaged in discussions with government agencies, as well as other prospective customers, around defence applications and other potential use cases for its hybrid-electric aircraft. Building on all electric VX4 and Flightpath 2030 The hybrid-electric variant will be in addition to Vertical's all-electric VX4, which remains on target for its Flightpath 2030 goal of Type Certification in the UK and Europe in 2028, followed by validation by global regulatory authorities. About Vertical Aerospace Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel. Vertical's VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical combines partnering with leading aerospace companies, including GKN, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL. Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, the epicentre of the UK's aerospace industry, Vertical's experienced leadership team comes from top tier automotive and aerospace companies such as Rolls-Royce, Airbus, GM and Leonardo. Together they have previously certified and supported over 30 different civil and military aircraft and propulsion systems. 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 release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, our ability to integrate hybrid technology into the VX4 on any particular timelines or at all, the ability of the hybrid-electric VX4 variant VX4 to be applied in defense, cargo, logistics and emergency services sectors, our ability to scale the hybrid-electric VX4 upon the VX4, the design and manufacture of the VX4, certification and the commercialization of the both the VX4 and the hybrid-electric VX4 variant and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the features and capabilities of the VX4 and the hybrid-electric VX4 variant, trends in sovereign defense budgets, business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, completion of the piloted test programme phases, selection of suppliers, as well as statements that include the words 'expect,' 'intend,' 'plan,' 'believe,' 'project,' 'forecast,' 'estimate,' 'may,' 'should,' 'anticipate,' 'will,' 'aim,' 'potential,' 'continue,' 'is/are likely to' and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation: our limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; our potential inability to raise additional funds when we need or want them, or at all, to fund our operations; our limited cash and cash equivalents and recurring losses from our operations raise significant doubt (or raise substantial doubt as contemplated by PCAOB standards) regarding our ability to continue as a going concern; our potential inability to produce or launch aircraft in the volumes or timelines projected; the potential inability to obtain the necessary certifications for production and operation within any projected timeline, or at all; the inability for our aircraft to perform at the level we expect and may have potential defects; our 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; any accidents or incidents involving eVTOL aircraft could harm our business; our dependence on partners and suppliers for the components in our aircraft and for operational needs; the potential that certain strategic partnerships may not materialize into long-term partnership arrangements; all of the pre-orders received are conditional and may be terminated at any time and any predelivery payments may be fully refundable upon certain specified dates; any circumstances; any potential failure to effectively manage our growth; our inability to recruit and retain senior management and other highly skilled personnel; we have previously identified material weaknesses in our internal controls over financial reporting which if we fail to properly remediate, could adversely affect our results of operations, investor confidence in us and the market price of our ordinary shares; as a foreign private issuer we follow certain home country corporate governance rules, are not subject to U.S. proxy rules and are 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 the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ('SEC') on March 11, 2025, as such factors may be updated from time to time in the Company's other filings with the SEC. Any forward-looking statements contained in this release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this release whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. 1 Morgan Stanley 'eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky's the Limit' (May 6, 2021).
Yahoo
27-03-2025
- Business
- Yahoo
Vertical Aerospace Unfairly Undervalued, Says Bullish Analyst
D. Boral Capital analyst Jesse Sobelson initiated coverage on Vertical Aerospace Ltd. (NYSE:EVTL) on Thursday with a Buy rating and a price forecast of $15. The analyst notes that the company has recently positioned itself as one of the few remaining European-based players in the increasingly competitive electric vertical takeoff and landing (eVTOL) aircraft market. While some European competitors have struggled financially, EVTL recently secured strategic investments and provided an updated long-term roadmap in late 2024, adds the analyst. Also, the analyst notes that EVTL's proactive collaboration with regulators and its advanced stage in the certification process position it well to meet key milestones related to its Flightpath 2030 strategy. The company's progress in the certification process, strategic partnerships with Honeywell, Leonardo, and GKN Aerospace, and a solid IP portfolio strengthen its market position, adds the analyst. Sobelson says that with a projected $1 trillion total addressable market by 2040, EVTL is well-positioned to capture a significant share, making its current valuation an attractive entry point for investors in the urban air mobility (UAM) sector. The analyst estimates EPS of £(1.24) for 2025 and £(1.07) for 2026. Price Action: EVTL shares traded higher by 0.71% at $3.656 at the last check Thursday. Read Next:Photo by Ground Picture on Shutterstock. Date Firm Action From To Jan 2022 Barclays Initiates Coverage On Underweight View More Analyst Ratings for EVTL View the Latest Analyst Ratings Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Vertical Aerospace Unfairly Undervalued, Says Bullish Analyst originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
