The UK government’s Aerospace Technology Institute (ATI) this week awarded £8 million ($10 million) to support Vertical Aerospace’s efforts to bring its four-passenger VX4 eVTOL aircraft to market. The grant, which increases total government backing for the program to £37 million, will be used to complete the development of the lift-and-cruise vehicle’s propellers.
The new funding comes almost a month after Vertical’s founder and CEO, Stephen Fitzpatrick, provided a $50 million investment to sustain work on the VX4, for which the UK company aims to complete type certification by the end of 2026. This capital will be provided through a first tranche of $25 million in return for shares priced at $10 in a deal set to close by March, followed by a second payment of $25 million at a share price to be determined by July 31.
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