FutureFlight
U.S. EXIM Bank Approves $169 Million Loan for eVTOL Developer Beta
Beta Technologies has current and prospective customers for its electric aircraft in India, Japan, New Zealand and Canada.
Beta's Alia eVTOL aircraft
Beta's Alia eVTOL aircraft is expected to enter commercial service in 2026. (Image: Beta Technologies)

The U.S. Export-Import Bank (EXIM) has approved a $169 million load to Beta Technologies to support the development of its Alia eVTOL and CX300 eCTOL aircraft, as well as charging infrastructure. The transaction is the second deal approved under EXIM’s Make More in America initiative and is expected to support around 400 “clean energy” jobs at Beta’s facility in Vermont.

The loan was announced on November 16 as part of an Invest in America session at the 2023 Asia-Pacific Economic Cooperation Forum held in San Francisco this week. “This transaction advances several key Biden-Harris Administration priorities, from bolstering domestic manufacturing and supporting good-paying jobs to advancing cutting-edge renewable energy technologies that can change the future of aviation,” said EXIM president and chair Reta Jo Lewis.