- Vertical has selected Molicel to provide high-performance
battery cells for the VX4 eVTOL aircraft
- Molicel is a leader in high-power lithium-ion cells with
technology already in use across some of the most demanding
applications, counting NASA and Williams Advanced Engineering as
its clients
- Vertical and Molicel have entered into a strategic partnership
that will combine Molicel’s leading cell technology with Vertical’s
proprietary battery pack design
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace
and technology company that is pioneering zero emissions aviation,
today announces a strategic partnership with E-One Moli Energy Corp
(Molicel), a leading manufacturer of lithium-ion cells, to supply
high power cylindrical cells for Vertical’s VX4 eVTOL aircraft.
With today’s announcement, Vertical has now secured the supply
of market leading battery cells to develop the VX4 through to
certification and entry into service, working with Molicel to
increase supply as the VX4 is brought into mass production.
Vertical reviewed the capabilities of dozens of cell manufacturers
before selecting Molicel as its battery partner as it believes
Molicel is uniquely placed to meet the performance and safety
requirements of the VX4 and to continue to deliver innovation and
improved performance over time.
With more than 40 years’ experience in energy research and
development, Molicel has established itself as one of the world’s
leading supplier of high-power battery cells. Specialising in high
power, low impedance and fast charge, Molicel deliberately focuses
on demanding, high-performance applications of its batteries, with
its technology already in use across space, advanced automotive and
power tool applications. Partners include NASA and William’s
Advanced Engineering.
Battery cells, and the wider battery system, are critical
components for the safety, performance and economics of the
VX4.
- Safety – Safe flight is a
non-negotiable and critical for our aircraft. Part of Vertical’s
certification compliance journey is proving the management of
thermal runaway events and Molicel’s high power cylindrical cell
format is key this.
- Performance – The VX4 needs
high-performance cells to enable the range and payload Vertical’s
customers demand. Molicel have the highest power and energy
cylindrical cell in the world.
- Economics – The VX4 battery system
needs to be economic both as a component of the product and in
second-life applications. Molicel will help optimise the life cycle
of the battery cell for eVTOL as well as other second-life
applications.
Vertical and Molicel have established a joint working group to
ensure the battery cells result in a system for the VX4 that is a
safe, reliable and high-performance. The battery system will be
certified concurrently with the European Union’s Aviation Safety
Agency (EASA) and the UK’s Civil Aviation Authority (CAA) with
Vertical targeting 2025 for entry into service.
In addition to their existing production annual capacity
(1.6GWh), in Taipei, Molicel will open their second Gigafactory in
Kaohsiung, Taiwan in 2023 (2GWh). The advanced manufacturing
technology at these new plants will not only enable mass production
of cells for Vertical Aerospace, but its cell traceability approach
will guarantee the consistency and quality required to meet
aerospace standards.
Stephen Fitzpatrick, Founder & CEO, Vertical
Aerospace said “The future of electric aviation is dependent on
safe, high-performance battery systems and fundamental to this is
the battery cells themselves. That’s why I am delighted to be
partnering with Molicel, producer of the world’s highest power
cells. Molicel has a rich history of innovation and pushing the
boundaries of what’s possible in energy storage. We see many
similarities between ourselves and Molicel and we couldn’t think of
a better partner to bring the VX4 to market.”
Dr Limhi Somerville, Head of Battery, Vertical Aerospace
said “It has been a privilege to work alongside the excellent
Molicel team in testing, evaluating and analysing their lithium-ion
cells. Both here and in Taiwan. Through years of development their
low resistance, high-power cells give us additional weight saving,
charging and safety opportunities for the VX4 with minimal
compromise to energy and lifetime. We look forward to working with
them for many years to come in enabling certified propulsion
battery systems in aerospace.”
Casey Shiue, President, E-One Moli Energy Corp (Molicel)
said “We have long been known as the pioneers of high power, low
impedance, fast charge battery cell technology and have vast
experience across a range of applications. We are on a mission to
produce outstanding cells to drive the electric evolution and are
very excited to enter this strategic partnership with Vertical
Aerospace. We work with some of the best engineers in the world and
have been immensely impressed by Vertical’s technical and
engineering pedigree. We see our technology is a key enabler of
safe and efficient flight, and we look forward to working with
Vertical Aerospace to bring their revolutionary VX4 aircraft to the
skies.”
About Vertical Aerospace
Vertical Aerospace is a leading British electric vertical
takeoff and landing (“eVTOL”) manufacturer pioneering the
transition to carbon free aviation, focused on designing,
manufacturing and selling one of the world’s best zero operating
emission eVTOL aircraft for use in the advanced air mobility
(“AAM”) market, using the most cutting-edge technology from the
aerospace, automotive and energy industries. Since its inception in
2016, Vertical has focused on building one of the most experienced
and senior teams in the eVTOL industry, who between them have
decades of engineering experience and have certified and supported
over 30 different civil and military aircraft and propulsion
systems.
Vertical’s top-tier partner ecosystem is expected to support
operational execution and Vertical believes its pathway to
certification will allow for a lean cost structure and enable
production at scale. Vertical has received conditional pre-orders
for a total of up to 1,350 aircraft from American Airlines, Avolon,
Bristow and Iberojet, which includes conditional pre-order options
from Virgin Atlantic and Marubeni, and in doing so, is creating
multiple potential near term and actionable routes to market.
Vertical’s ordinary shares and warrants commenced trading on the
NYSE in December 2021 under the tickers “EVTL” and “EVTLW,”
respectively. Find out more: vertical-aerospace.com
Please see Vertical’s media kit
About the VX4 eVTOL Aircraft
The VX4 is projected to be capable of transporting a pilot and
up to four passengers, traveling distances of over 100 miles, and
achieving top speeds of over 200 miles per hour, while producing
minimal noise and zero operating emissions. The VX4 is expected to
open up advanced air mobility to a whole new range of passengers
and transform how we travel. Find out more:
vertical-aerospace.com
About MOLICEL
With over 40 years’ rechargeable lithium-ion knowhow and
innovative technology research and development, MOLICEL® is famous
for excellent power density product which presents high discharge
and fast charge capability balanced with good energy density. The
company has been recognized as first choice for world leading
makers in applications such as sports car/motorcycle, VTOL,
aerospace and heavy-duty tools.
MOLICEL®’s R&D and engineers holds core competences in
material research, cell design and advanced manufacturing along
with testing capability. These four cornerstones make this medium
size but tech-leading cell maker stands in a very competitive
position in the market.
MOLICEL® belongs to the energy business of Taiwan Cement
Corporation (TCC). TCC is the first listing company in Taiwan stock
market. The group has business units in the field of power plant,
renewable energy and BESS.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Any express or implied statements contained in this press
release that are not statements of historical fact may be deemed to
be forward-looking statements, including, without limitation,
statements regarding the certification and the commercialization of
the VX4 and related timelines, the differential strategy compared
to its peer group, and the transition towards a net-zero emissions
economy, expected financial performance and operational performance
for the fiscal year ending December 31, 2022, as well as statements
that include the words “expect,” “intend,” “plan,” “believe,”
“project,” “forecast,” “estimate,” “may,” “should,” “anticipate,”
“will,” “aim,” “potential,” “continue,” “are likely to” and similar
statements of a future or forward-looking nature. Forward-looking
statements are neither promises nor guarantees, but involve known
and unknown risks and uncertainties that could cause actual results
to differ materially from those projected, including, without
limitation: Vertical’s limited operating history without
manufactured non-prototype aircraft or completed eVTOL aircraft
customer order; Vertical’s history of losses and the expectation to
incur significant expenses and continuing losses for the
foreseeable future; the market for eVTOL aircraft being in a
relatively early stage; the potential inability of Vertical to
produce or launch aircraft in the volumes and on timelines
projected; the potential inability of Vertical to obtain the
necessary certifications on the timelines projected; any accidents
or incidents involving eVTOL aircraft could harm Vertical’s
business; Vertical’s dependence on partners and suppliers for the
components in its aircraft and for operational needs; the potential
that certain of Vertical’s strategic partnerships may not
materialize into long-term partnership arrangements; pre-orders
Vertical has received for its aircraft are conditional and may be
terminated at any time in writing prior to certain specified dates;
any potential failure by Vertical to effectively manage its growth;
the impact of COVID-19 on Vertical’s business; Vertical has
identified material weaknesses in its internal controls over
financial reporting and may be unable to remediate the material
weaknesses; Vertical’s dependence on our senior management team and
other highly skilled personnel; as a foreign private issuer
Vertical follows certain home country corporate governance rules,
is not subject to U.S. proxy rules and is subject to Exchange Act
reporting obligations that, to some extent, are more lenient and
less frequent than those of a U.S. domestic public company; and the
other important factors discussed under the caption “Risk Factors”
in our Annual Report on Form 20-F filed with the U.S. Securities
and Exchange Commission (“SEC”) on April 29, 2022, as such factors
may be updated from time to time in Vertical’s other filings with
the SEC. Any forward-looking statements contained in this press
release speak only as of the date hereof and accordingly undue
reliance should not be placed on such statements. Vertical
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained in this press release, whether
as a result of new information, future events or otherwise, other
than to the extent required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220706005334/en/
Samuel Emden semden@nepean.co.uk
Vertical Aerospace (NYSE:EVTL)
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