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Archer & Abu Dhabi Investment Office plan to launch Archer all-electric air taxi service across UAE

Archer Aviation entered into an agreement with ADIO pursuant to which the parties intend to work together to make Abu Dhabi its first international launch partner, with plans to commence air taxi operations in Abu Dhabi in 2026. As part of this strategic initiative, ADIO plans to support Archer with...

Enabling rapid wildfire response with prepositioned autonomous aircraft - Rain announces $9.7M in seed financing

Rain announced an oversubscribed seed round, closing $9.7 million in financing earlier this year to provide fire agencies the ability to contain wildfires before they grow out of control with prepositioned autonomous aircraft. DBL Partners led the round, with participation from Volo Earth Ventu...

Solid-state battery supply chain for eVTOLs - EHang invests in lithium metal battery tech company

EHang announced a strategic investment in Shenzhen Inx Technology Co. and its plan to cooperate with Inx on the research, development and production of solid-state lithium metal batteries for EHang AAV products. This PreA+ funding round of Inx was led by GL Ventures, with the participation from Connected Intelligence Fund, Qilu Qianhai Fund, EHang, and its existing investo...

Airbus, Barclays Sustainable Impact Capital and NEOM co-lead ZeroAvia latest financing round

Airbus, Barclays Sustainable Impact Capital and NEOM have co-led ZeroAvia latest financing round. Breakthrough Energy Ventures, Horizons Ventures, Alaska Airlines, Ecosystem Integrity Fund, Summa Equity, AP Ventures and Amazon Climate Pledge Fund have also participated in the investment. This investment will enable ZeroAvia to accelerate progress towards certification of...

Leading the electric age of aviation - Solyu orders for 25 Eviation Alice all-electric commuter aircraft

Seoul based leasing company Solyu signed a LOI for 25 Eviation Aircraft commuter Alice aircraft with options for 25 additional aircraft. Solyu is focused on supporting sustainable aviation by providing financing and leasing solutions for the Alice to a global customer base of operators. The nine-passenger Eviation Alice is the world's first flight-proven all-electric commut...

Avolon finalises order with Airbus for 20 A330neo aircraft

Avolon has signed a binding agreement for its order of 20 new A330neo aircraft from Airbus. The order firms up a memorandum of understanding signed at the Paris Airshow in June. The new aircraft are scheduled to be delivered between 2025 and 2028. Avolon was a launch customer for the A330neo programme in 2014 and is enjoying strong customer demand for additional widebody aircraft ha...

Profit of Riga Airport in the first half of the year – EUR 2.2 million

According to the unaudited interim report for January-June 2023, Riga Airport closed the first half of 2023 with a profit of EUR 2.2 million.The turnover of the Airport in the first half of this year was EUR 34.43 million, or 37 percent more than previous year. It consisted of EUR 20.47 million in revenue from aviation services (+25 % as compared to 2022) and almost EUR 14 million in rev...

Elfly Group secures grant from Norwegian Government agency to develop prototype of its all-electric seaplane

Norway Elfly Group is to forge ahead with the production of a full-scale prototype of its all-electric commercial seaplane, the Noemi following confirmation of USD$8 million-plus grant from Enova SF, the country’s Ministry of Climate and Environment. The award underlines the Norwegian Government’s commitment to transition to a low emission society and its ambition to mak...

Definitive merger agreement between Inpixon and XTI Aircraft Company

Inpixon has entered into a definitive merger agreement with XTI Aircraft Company. If completed, the merger will result in a combined publicly traded company that will focus on advancing the TriFan 600 to market, as well as continuing to offer Inpixon's real-time location systems technology to manufacturing and warehousing facilities for streamlined operations, greater...

Archer closing oversubscribed PIPE as part of $215M investment round led by Stellantis

Archer Aviation announced that the PIPE portion of its larger $215M investment round led by Stellantis announced last Thursday is positioned to close today. ARK and United Airlines were two of the largest investors in the PIPE signifying the intersection of innovative financial institutions and traditional aerospace investing in disruptive technologies. Adam Goldstein, founder and CEO of Archer...

FAA issues Archer certificate to begin flying Midnight; on track to complete first ever eVTOL customer delivery

Archer Midnight aircraft received its Special Airworthiness Certificate from the FAA.This certification signals that Archer’s Midnight aircraft has successfully met all FAA safety requirements allowing it to begin flight test operations, which Archer expects to commence in the coming weeks. Archer continues to make strong progress on Midnight’s certification program with the FAA i...

Rcapital acquires Bromford Group’s Leicester-based engineering business to secure 81 jobs

Private investor, Rcapital, completed the acquisition of the Leicester-based aerospace and power generation business of Bromford Group. Bromford Group was placed into administration in March and has continued trading while a buyer has been sought. Chris Pole and Ryan Grant of Interpath Advisory were the appointed administrators. Rcapital’s acquisition does not include the wider group&rs...

Landmark investment in eVTOL - Archer and U.S. Air Force enter into contracts worth up to $142 million

Archer Aviation has significantly expanded its partnership with the DoD by signing new contracts with the U.S. Air Force with a total value of up to $142 million. This new execution phase of the partnership includes the delivery of up to six of Archer’s Midnight aircraft to the Air Force, the sharing of additional flight test data and certification related test reports, pilot training, and t...

Accelerating sustainable aviation - climate tech fund Statkraft Ventures invests in Electra

Statkraft Ventures announced its investment in Electra.aero. The investment will enable Electra to further develop its hybrid-electric ultra-short eSTOL aircraft, reinforcing Statkraft Ventures’ commitment to advancing sustainable transportation and decarbonization efforts by investing in emerging technologies that reduce emissions. This investment leverages Statkraft Ventures'...

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Top of the week

Samson Sky secures $80 million to launch switchblade flying car production

Samson Sky, developer of the Switchblade Flying Car, announced it has secured an $80 million investment from Dubai‑based Matin Group. According to Sam Bousfield, CEO, Founder...

Kepplair Evolution accelerates its growth with a new €6 million funding round, bringing the total funding raised to €17.5 million

Kepplair Evolution, just days after completing the first pre‑modification flights of its prototype aircraft, has announced the closing of a new €6 million funding round — bringing total fin...