Vertical Aerospace, a pioneer in electric flying taxi technology in Britain, has received an additional £8 million grant from the government, bringing its total taxpayer backing to £37 million.
This funding injection aims to further the development of Vertical’s electric vertical take-off and landing (eVtol) aircraft, particularly focusing on propeller technology.
Despite recent setbacks, including a crash of its VX4 aircraft during a test flight in August and a significant decline in its share price, Vertical Aerospace remains committed to advancing its electric aviation technology. The company’s founder, Stephen Fitzpatrick, emphasised that the funding represents a vote of confidence in Vertical’s technology and marks a significant step towards delivering the next generation of electric aviation technologies in Britain.
The £8 million grant, covering half of Vertical’s development costs for propellers and propulsion systems, underscores the government’s commitment to supporting innovation in the aviation sector. Vertical will collaborate with a consortium from the aviation industry, including engineers from British universities, to develop lighter and quieter propeller technology, with the aim of revolutionizing urban air mobility.
Nusrat Ghani, the industry minister, praised the project as a testament to the UK’s world-leading aviation sector, supporting high-skilled jobs and driving sustainable technological advancements. The grant, facilitated through the UK Aerospace Technology Institute, is part of the government’s broader strategy to secure a leading position in the emerging market for electric aviation, estimated to be worth £24 billion to the UK by 2050.
Despite challenges and investor skepticism, Vertical Aerospace has made significant strides, securing design approval from the Civil Aviation Authority for its five-seater flying taxi capable of speeds up to 200mph. The company has also attracted orders from international airlines, including American Airlines and Virgin Atlantic.
Vertical’s grant announcement coincides with its German competitor Lilium’s provisional order for 10 eVtol jets at the Singapore airshow, indicating the growing global interest in electric aviation. As Vertical Aerospace and its peers continue to innovate and expand, the government’s investment underscores its commitment to fostering sustainable aviation technologies and driving economic growth in the UK.
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Government Grants Vertical Aerospace Further £8m for Electric Flying Taxi Development
