Vertical Aerospace

Vertical Aerospace. It is a British aerospace manufacturer focused on designing, manufacturing, and certifying electric vertical takeoff and landing (eVTOL) aircraft for the advanced air mobility market. Founded in 2016 by entrepreneur Stephen Fitzpatrick, the company aims to develop zero-emission aircraft for urban and regional air transport. Headquartered in Bristol, it has pursued an aggressive timeline toward type certification with regulatory bodies like the European Union Aviation Safety Agency and the UK Civil Aviation Authority.

History

The company was established in 2016 by Stephen Fitzpatrick, who is also the founder of the Ovo Energy group. Initial development work began quietly, with the company emerging publicly in 2018 following the reveal of its first prototype, a two-seat aircraft named the VA-X1. In 2020, Vertical Aerospace launched its next-generation program, which would evolve into the VX4 aircraft. A significant milestone occurred in 2021 when the company announced a merger with a special-purpose acquisition company, Broadstone Acquisition Corp., to become a publicly listed entity on the New York Stock Exchange. This period also saw the appointment of former Rolls-Royce executive Michael Cervenka as Chief Executive Officer, succeeding Fitzpatrick. The company has since concentrated its engineering and testing efforts at its facilities in Bristol, a major hub for the British aerospace industry.

Aircraft

The company's primary product is the VX4, a piloted, four-passenger eVTOL aircraft designed for commercial operations. The VX4 utilizes a lift-plus-cruise configuration with multiple fixed propellers for vertical flight and a distinct rear pusher propeller for forward cruise. Its development builds upon lessons learned from earlier prototypes like the VA-X1 and the subsequent Seraph demonstrator. Key suppliers for the VX4's propulsion and systems include Rolls-Royce for the electric propulsion unit, Honeywell for the fly-by-wire flight control system and avionics, and Solvay for advanced composite materials. The aircraft is designed to have a cruise speed of 150 mph and a range of over 100 miles, targeting operations in urban environments and between regional hubs.

Operations and partnerships

The company has built a broad ecosystem of operational and industrial partnerships to support its market entry. It has established agreements with multiple launch customers, including American Airlines, Virgin Atlantic, and Japan Airlines, for conditional pre-orders totaling hundreds of aircraft. For manufacturing and operational scaling, it has partnered with GKN Aerospace for series production of airframes and collaborates with Microsoft for digital twin and simulation technology through the Microsoft Azure platform. Further strategic partnerships include work with Leonardo S.p.A. on certification support and with Skyports to develop vertiport infrastructure. These collaborations are intended to create an integrated ecosystem for future urban air mobility services.

Funding and financials

Initial funding was provided by founder Stephen Fitzpatrick and private investment. A major capital infusion came via the 2021 merger with the special-purpose acquisition company Broadstone Acquisition Corp., which valued the combined entity at approximately $2.2 billion and provided around $300 million in gross proceeds. The company is listed on the New York Stock Exchange under the ticker symbol EVTL. Other significant investors include American Airlines, Microsoft, and Honeywell, which participated in a private investment in public equity round concurrent with the merger. The company's financial strategy involves using raised capital to fund the extensive research, development, and certification campaign required for the VX4 program ahead of anticipated commercial revenue.

Regulatory certification

The company is pursuing a concurrent certification basis for its VX4 aircraft with both the European Union Aviation Safety Agency (EASA) and the UK Civil Aviation Authority (CAA), under the special condition SC-VTOL framework. It has submitted its certification plans and is engaged in the detailed compliance process, working closely with regulatory bodies. The company leverages expertise from partners like Honeywell and Leonardo S.p.A. on complex systems certification. Achieving type certification is the critical path to commercial service, with the company targeting the mid-2020s for entry into service, contingent on successful completion of a rigorous flight test campaign and validation of all safety and performance requirements.

Category:Aerospace companies of the United Kingdom Category:Advanced air mobility Category:Companies based in Bristol