2024 Corporate Aviation Leadership Summit

Lockheed Martin Ventures (LMV) has made an undisclosed investment in eSTOL aircraft developer Electra through a Series A funding round. The capital contributed by the venture capital arm of the U.S. defense and aerospace giant will support the Virginia-based start-up’s plans to begin flight testing a technology demonstrator this year.
Using blown-lift technology, the hybrid-electric, fixed-wing design features eight sets of propellers and is expected to be able to operate from surfaces that are no more than 300 feet long and 100 feet wide. In addition to its patent-pending distributed electrical propulsion system, the aircraft will have a small turbine-powered generator to recharge batteries during flights to give the flexibility of being able to operate into sites where recharging infrastructure is not available. The as-yet-unnamed model will carry seven to nine passengers or up to 1,800 pounds of cargo on sectors of up to 500 miles.
“Electra’s technical approach to sustainable aviation is differentiated, and we are excited to see this concept mature,” said LMV vice president and general manager Chris Moran. “We invested in Electra because of its focus on hybrid-electric technology. Hybrid-electric aircraft have the potential to deliver operational and environmental advantages over other aircraft, including increased payload and range without gambling on battery improvements.”
Last year, Electra signed provisional sales agreements with prospective operators Flapper and Flyv. It reported that work has begun with the FAA to certify the aircraft under existing Part 23 rules, and the company has received support from NASA and the U.S. Air Force.

Managing Editor

Charles Alcock

Lockheed Martin Backs Hybrid-electric eSTOL Aircraft Developer Electra

On-demand air mobility start-up Flyv has committed to buying 100 of Electra.aero's planned hybrid-electric eSTOL aircraft under the terms of a memorandum of understanding (MOU) that establishes a partnership between the two companies in Europe. Under the agreement, the partners will explore urban and regional network opportunities&nbsp;and collaborate on elements of eSTOL performance, economics, and passenger experience as well as joint marketing initiatives. 
The contract brings to 280 the number of sales commitments U.S.-based Electra now holds for its fixed-wing eSTOL aircraft. Using a combination of blown lift technology, hybrid-electric power, and distributed propulsion, the aircraft promises lower emissions and operating costs than conventional aircraft, according to the company. The aircraft’s batteries will be re-charged&nbsp;in mid-flight, eliminating the need for ground charging infrastructure and enabling quick flight turnaround in diverse environments. 
Electra’s aircraft will initially carry up to seven passengers and a pilot or 1,800 pounds of cargo up to 500 miles in all weather conditions. Its ability to take off and land with just 100 feet of linear space allows flight operations from places previously inaccessible by air, including urban rooftops and corporate parking lots. 
According to Electra, its technology delivers two-and-a-half times the payload and 10 times more range as well as 70 percent lower operating costs than what it calls vertical takeoff alternatives. The manufacturer&nbsp;expects to begin flights with a full-scaled demonstrator next year in the U.S. and gain certification for the seven-seat eSTOL vehicle in 2026.
Plans call for Germany-based Flyv to operate between airports and eventually provide point-to-point intercity travel. In lieu of a traditional hub and spoke network, the Flyv says its scheduling platform will usesa proprietary algorithm to optimize the daily flight schedule based on paid bookings and operational constraints. The company plans to provide customers a guaranteed fixed travel timeframe to their destination at the point of booking and exact itinerary details prior to departure.
"Traditional airlines are focused on capacity, not on demand,” said Flyv CEO Anton Lutz. “We're building a new means of transport that is demand-driven and customer centric. We aim to connect unserved communities to as many other decentralized locations as possible by delivering the fastest means of transport from one point to another at market value-based prices.”

Senior Editor

Gregory Polek

Electra Signs Conditional Order for 100 eSTOL Aircraft With Germany’s Flyv

Hybrid-electric aircraft developer Electra has secured purchase commitments for up to 130 of its eSTOL vehicles from Brazil’s Flapper and Australia’s Skyportz, the companies said Monday. The deals come a little over a month after Virginai-based Electra signed a memorandum of understanding (MOU) with helicopter operator Bristow for 50 of the still-unnamed eSTOL machines. Electra places the value of all the commitments at more than $500 million.
Electra’s fixed-wing aircraft will initially carry up to seven passengers and a pilot or 1,800 pounds of cargo up to 500 miles in all weather conditions. Its ability to take off and land with just 100 feet of linear space allows flight operations from places previously inaccessible by air, including urban rooftops and corporate parking lots. Electra says its technology delivers two-and-a-half times the payload and 10 times more range as well as 70 percent lower operating costs than what it calls vertical takeoff alternatives.
“These strategic agreements go beyond the technological development and manufacturing of the aircraft,” said Electra CEO John Langford. “They chart the entire ecosystem needed for its successful operation, ground support, and customer use that together validate the commercial viability and market confidence in our eSTOL aircraft.” 
Under the MOU with Flapper, Electra will serve as Flapper’s preferred aircraft provider for five-plus-seat regional air services. As Electra’s preferred service provider in Brazil, Flapper commits to buying 15 Electra eSTOL aircraft with an option for 15 more of the airplanes. The two companies plan to jointly pursue new route networks including ones for heliport operators and real estate developers and investors. 
“Our transition to sustainable electric aircraft is expected to achieve 40 percent savings in our operational costs&nbsp;and open our service to new destinations,” said Flapper CEO Paul Malicki. “With Electra’s eSTOL plane, we look forward to offering our customers unparalleled urban and regional air mobility in cities such as São Paulo, Bogotá [Colombia], Santiago de Chile, or Ciudad de Mexico—all at a fraction of the cost of a helicopter ride.” 
Meanwhile, Electra’s MOU with Skyportz includes a purchase agreement for up to 100 eSTOL aircraft, which the Australian firm plans to use for connecting city centers or dispersed logistic facilities and delivering cargo to remote regions. The companies are exploring opportunities in Australia for early trials of Electra's full-scale technology demonstrator, which enters flight testing in the U.S. in 2022. 
“Australia exemplifies the type of market that will greatly benefit from Electra’s eSTOL aircraft, with our greater payload capabilities, lower emissions, longer range, and reduced operating costs,” said Electra’s Langford. “Electra is excited to collaborate with Skyportz, in anticipation of our eSTOL aircraft flying missions in Australia ranging from on-demand intracity passenger flights to medical transport, cargo logistics, remote area missions, and more.” 
The move into eSTOL operations marks a significant departure for the Bristow Group, which today operates a worldwide fleet of around 240 rotorcraft, mainly serving customers in the oil and gas sector, as well as providing services such as search-and-rescue cover for governments and civil organizations. Bristow has explored diversifying its business model for some time after seeing its financial performance dented by declining demand and excess helicopter capacity in the offshore oil and gas sector. 
&nbsp;
&nbsp;

Electra

News

Lockheed Martin Backs Hybrid-electric eSTOL Aircraft Developer Electra

Electra Signs Conditional Order for 100 eSTOL Aircraft With Germany’s Flyv

Electra Collects Major Purchase Commitments from Flapper, Skyportz

AIN Products

SUBSCRIPTIONS

RESOURCES

ABOUT AIN