Vertical Aerospace (Vertical), an innovative aerospace and technology firm leading the way in zero emissions aviation, proudly reveals the acquisition of £8 million ($10 million) in grant funding from the UK Government. This funding, granted through the Aerospace Technology Institute (ATI) Programme, is dedicated to advancing the development of next-generation propellers for Vertical’s VX4 aircraft.
Vertical Aerospace (Vertical) is thrilled to announce its latest achievement, securing an £8 million ($10 million) grant from the UK Government through the Aerospace Technology Institute (ATI) Programme. This marks the third project awarded to Vertical by the ATI Programme, bringing the total UK Government grant funding to an impressive £37 million ($47 million). The continued support signifies a strong vote of confidence in Vertical’s capacity to spearhead the next era of aviation.
This significant award positions the UK at the forefront of the emerging global market in urban air mobility, a sector poised to revolutionize city-to-city transportation by offering a sustainable, eco-friendly, and low-noise mode of travel. Vertical is at the forefront of this transformation with its VX4 aircraft, currently in production with a new, advanced, full-scale prototype.
Nusrat Ghani MP, the Industry Minister, expressed enthusiasm for the sustainable propeller project, highlighting its alignment with the UK’s commitment to supporting the aviation sector, generating high-skilled employment, and advancing future technologies. Ghani emphasized that collaboration between the government and industry plays a pivotal role in propelling the aerospace sector towards achieving net-zero air travel by 2050.
The UK’s prowess in aerospace R&D and manufacturing is well-established, and this specific project brings together the country’s top experts and technical partners to enhance Vertical’s eVTOL propeller technology and propulsion system. The result is expected to be a lighter propeller technology, that has lower inertia and noise levels, and adheres to higher safety standards than any currently available model.
Stephen Fitzpatrick, Founder and CEO of Vertical Aerospace, sees this project as a major step in advancing novel electric aviation technologies in Britain. With the support of the ATI Programme and consortium partners, Vertical aims to maintain its leadership in aerospace innovation, electric aviation, and urban air mobility.
This recent grant follows Vertical’s commitment to invest an additional $50 million into the business, supporting ongoing aircraft program development. In total, Vertical has secured approximately $60 million in committed funding over the past month.
The overall investment in the propeller project exceeds £20 million, with Vertical’s award accounting for over £8 million, covering 50% of the eligible development costs. The remaining £3.5 million will be distributed among other consortium members, including leading academic institutions like the University of Glasgow, the University of Bristol, and Cranfield University, along with helicopter monitoring specialists, Helitune.
Mark Scully, Head of Technology – Propulsion and Advanced Systems at ATI, highlighted the project’s significance in advancing rotor technologies crucial for the success of eVTOL aircraft. This investment contributes to growing knowledge, skills, and capabilities in the UK, positioning the country to capitalize on the anticipated £24 billion global market for zero-emission aircraft by 2050.
Managed by the Aerospace Technology Institute, the Department for Business and Trade (DBT), and Innovate UK as part of UK Research and Innovation, the ATI Programme has played a pivotal role in supporting Vertical’s endeavours. Vertical has previously received £26 million from the ATI Programme and £3 million from the Future Flight Challenge. The latest grant from the ATI Programme underscores the total UK Government backing, reaching an impressive £37 million.
About Vertical Aerospace
Vertical Aerospace (NYSE: EVTL) is pioneering electric aviation. The Company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the OVO Group, a leading energy and technology group and Europe’s largest independent energy retailer. Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have previously certified and supported over 30 different civil and military aircraft and propulsion systems.
Vertical received its Design Organisation Approval in 2023 underlining the UK Civil Aviation Authority’s confidence in Vertical’s capability to design safe and reliable aircraft and aviation-related products to the highest standards.
Vertical’s top-tier partner ecosystem, including Honeywell Aerospace, Leonardo, Hanwha, Dassault Systèmes, Molicel, and GKN Aerospace, is expected to de-risk operational execution and its pathway to certification allowing for a lean cost structure and enabling production at scale. Vertical has a leading pre-order book from a diverse global customer base, creating multiple potential near-term and actionable routes to market. Customers include airlines, aircraft lessors, helicopter operators, mobility firms and tourism groups, including American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Kakao Mobility, Iberojet and FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland, Gozen Holding and AirAsia, through Avolon’s VX4 placements.