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UK Flying Taxi Startup Vertical Aerospace Announces Additional $ 205 Million Leaded by Mudrick Capital

Vertical Aerospace, a global aerospace and technology company based in Bristol, UK, a pioneer of zero-emission aviation, has 200 million to support the path to large-scale production and certification of VA-X4 electric vertical takeoff and landing. We recently announced additional funding in excess of the dollar. (EVTOL) Aircraft.

Vertical aims for the highest global certification of VA-X4. It is expected to meet safety standards equivalent to jet airliners by 2024 (based on the standards promulgated by CAA and EASA).

Madric Capital Management LP (“Madrick Capital”), a global investment company focused on special situation investments, will invest $ 200 million vertically through convertible senior secured bonds. In addition, Kouros SA, which specializes in investing in decarbonization of transportation and energy production, will invest $ 5 million in Vertical PIPE, along with American Airlines, Abolon, Honeywell, Microsoft’s M12 and Rolls-Royce.

Other PIPE investors include American Airlines, Abolon, Honeywell, Microsoft’s M12, Rolls-Royce and 40 North.

Stephen Fitzpatrick, CEO and Founder of Vertical, said: Their investment is a more professional test of our technology and approach to the exciting future of zero-emission flights. We look forward to working together in the coming years to bring urban air mobility to cities around the world. “

Jason Madrick. Mudrick Capital’s founder and CIO said: The company is led by an exceptional team that develops innovative aircraft that have created an unparalleled partner ecosystem, which we believe is the largest published conditional pre-order form in the industry. .. With this investment, the company now has the appropriate capital to bring electric flight into commercial operation and move to large-scale production by the middle of the last decade. Vertical is to the right of the move to Net Zero – reducing carbon by reducing reliance on short-haul flights and other modes of transport. This is essential and an important consideration in our investment. “

Florent Bergeret, Head of Strategy and Investment at Kouros France, said: “Kouros SA is excited to invest in Vertical Aerospace, a pioneer on the road to electric aviation.”

Vertical’s top global customers include American Airlines, Virgin Atlantic Airlines, Abolon, Bristow Group, Iberojet and Marubeni. Through the placement of Abolon, airlines GOL and JAL are also working on pre-ordering VA-X4 aircraft. As a result of these relationships, Vertical has placed up to $ 5.4 billion worth of conditional pre-orders for up to 1,350 aircraft. We believe this is the largest order book published in the industry. Vertical’s eVTOL aims to be the industry leader in safety, certified to the highest global standards and comparable to the safety performance of airline passenger jets (expected promulgated by CAA and EASA). Based on the standard).

– Press release

https://www.uktech.news/featured/uk-flying-taxi-startup-vertical-aerospace-announces-205m-in-additional-funding-led-by-mudrick-capital-20211104 UK Flying Taxi Startup Vertical Aerospace Announces Additional $ 205 Million Leaded by Mudrick Capital

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