Ascendance Raises Capital For Atea Hybrid Electric Aircraft

The French start-up has raised €10 million towards the cost of certifying its four-passenger Atea fixed-wing design by 2025, with a first flight now projected for 2024.

Ascendance Flight Technologies Atea — Ascendance's Atea hybrid-electric aircraft will feature the French company's proprietary Sterna propulsion system. (Image: Ascendance Flight Technologies)

By Charles Alcock • Managing Editor

September 20, 2021

Ascendance Flight Technologies has raised €10 million ($11.7 million) to support the development of its Atea hybrid-electric aircraft. In a funding round that closed last week, the French company was backed by investors including Habert Dassault Finance, Celeste Management, M Capital, Kima Ventures, and IRDI.

Announcing the funding, Toulouse-based Ascendance said it is on track to achieve type certification and service entry for the four-passenger model by 2025, albeit with further funding rounds needed to reach that point. The company said it aims to achieve a first flight with a prototype by 2024 in time for the Paris Olympic Games.

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