Vertical Aerospace is pressing ahead with its financially lean approach to bringing its Valo eVTOL aircraft to market, having confirmed this week that it has sufficient cash to support work through the third quarter of 2027. Reporting half-year results on Thursday, the UK start-up said it expects to spend another $150 million over the next 12 months and, with new capital pending from investment commitments, it expects soon to have $148 million available.
On August 10, Vertical announced provisional agreements covering new investments totaling around $100 million. The group’s existing main backer, Mudrick Capital Management, pledged a further $40 million in backing, including a recently closed $5 million draw under the company’s existing $50 million convertible note facility, and a further $35 million draw that has been made available earlier than planned.
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