- Vertical Aerospace has celebrated “wheels up” for the first
time as its electric VX4 prototype conducted its very first
airborne test
- Vertical becomes the first British aerospace company to
manufacture a new aircraft in over 20 years*
- The new phase in its intensive test programme saw the piloted
aircraft lifted from the ground under tethered conditions
- It is hoped the VX4 will be certified in 2025
- The test took place following the company receiving its ‘Permit
to Fly’ from the UK’s Civil Aviation Authority (CAA)
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace
and technology company that is pioneering zero-emissions aviation,
saw its VX4 eVTOL (electric vertical take-off and landing) aircraft
take off from the ground for the very first time over the
weekend.
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A Vertical test pilot walking towards the
VX4 prototype. (Photo: Business Wire)
It becomes the first British company to start flight tests with
a new aircraft in over 20 years, with its full-scale, piloted
prototype.
The moment marked a significant milestone as Vertical continues
to progress successfully through its intensive flight test
programme. The programme is expected to continue for several
months, completing different stages which will involve reaching
higher altitudes and speeds and demonstrating the transition from
vertical to horizontal forward flight.
Engineers and flight technicians watched on as Chief Test Pilot,
Justin Paines, took to the controls for the aircraft’s maiden
take-off which saw the eight sets of aerodynamic propellers lift
the aircraft from the ground at hover-thrust, while tethered to the
ground for safety.
Vertical Aerospace Chief Test Pilot, Justin Paines said: “This
test represented the culmination of many months preparation by a
huge team and being at the controls of the VX4 for the first time
was an honour and a proud moment for us all.”
The company, unlike many of its competitors, decided to conduct
its first flight tests with a pilot on board to prove it could meet
the most stringent safety standards. To do this, Vertical Aerospace
received regulatory approval in the form of a ‘Permit to Fly’ from
the Civil Aviation Authority (CAA), after demonstrating the test
could be conducted safely.
The permit and the positive results of these early tests allow
the teams at Vertical to progress confidently on their mission to
certify the VX4 by 2025. It is hoped the aircraft will carry a
pilot and four passengers and is expected to have a range of up to
100 miles with the ability to cruise at speeds of around 150 miles
per hour, with a top speed of 200 miles per hour.
The company has already received more than 1,400 conditional
pre-orders from some of the world’s leading airlines, operators,
lessors and tourist groups including Virgin Atlantic, American
Airlines, Japan Airlines and Air Asia and recently announced that
American Airlines has conditionally committed to make a pre-payment
for its first 50 deliveries of the VX4, a strong vote of confidence
from the industry.
Stephen Fitzpatrick, Founder & CEO, Vertical, said “This
moment represents a small step for Vertical Aerospace, but it's a
giant leap forward for British aviation. For more than 100 years
the UK has been a global leader in aviation and today, in the 21st
century, Britain is leading the world in the development of zero
carbon aircraft.”
Vertical’s test programme is also supported by the Aerospace
Technology Institute, a UK government-industry programme designed
to promote transformative technology in air transport
Notes to editors:
*Based on research from Aviation historians, it is
believed this is the first British-made aircraft to be launched in
the last 20 years.
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company
was founded in 2016 by Stephen Fitzpatrick, an established
entrepreneur best known as the founder of the Ovo Group, a leading
energy and technology group and Europe’s largest independent energy
retailer. Over the past five years, Vertical has focused on
building the most experienced and senior team in the eVTOL
industry, who have over 1,700 combined years 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 de-risk
operational execution and its pathway to certification allows for a
lean cost structure and enables production at scale. Vertical has a
market-leading pre-order book by value for more than 1,400 aircraft
from global customers creating multiple potential near term and
actionable routes to market. Customers include American Airlines,
Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and
FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland,
Gozen Holding and AirAsia, through Avolon’s VX4 placements.
Vertical’s ordinary shares and warrants commenced trading on the
NYSE in December 2021 under the tickers “EVTL” and “EVTLW,”
respectively.
About the VX4 eVTOL Aircraft
The piloted zero operating emissions four-passenger VX4, is
projected to be capable of travelling distances over 100 miles,
achieving top speeds of up to 200mph, while producing minimal noise
and has a low cost per passenger mile. 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
Vertical Media Kit
Available here
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, expectations surrounding pre-orders and
commitments, the features and capabilities of the VX4, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220926005200/en/
Vertical Media Victoria Madden (Head of Communications)
Victoria.madden@vertical-aerospace.com +44 7885 571989
Ambika Sharma nepeanverticalteam@nepean.co.uk +44 7596 474
020
Vertical Investors Eduardo Royes
investors@vertical-aerospace.com +1 (646) 200-8871
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