Eric Welch’s Post

AIBOT, a California-based innovator in electric vertical take-off and landing (aiEVTOL) aircraft, has been awarded a $15 million grant from the California Competes Grant Program. This substantial funding, backed by the California Governor’s Office of Business and Economic Development (GO-Biz), marks a significant milestone in both AIBOT's journey and the evolving eVTOL sector. Jerry Wang, AIBOT's Executive Chairperson, expresses gratitude for this grant, which will bolster their role in Advanced Air Mobility, benefiting California’s economy and job sector. This year, amidst intense competition for the California Competes grants, AIBOT's selection highlights the state's commitment to innovative and sustainable technology. The grant will enable AIBOT to enhance its R&D, flight testing, and manufacturing capabilities in California, further advancing aerial mobility and AI technology in the region. #AIBOT #eVTOL #Innovation #CaliforniaCompetes #SustainableTechnology https://lnkd.in/eb3i43U3

🇩🇪 German Politicians in Bavaria have blocked support for eVTOL companies Volocopter and Lilium The decision blocked the approval of loan guarantees at both the state and federal levels, leaving the eVTOL companies seeking other financing options. Volocopter, for instance, is seeking €50 million in loan guarantees for its two-seaters (only one passenger!). The company aims to show off its air taxi at the Paris Olympics, even if this is increasingly uncertain. Honestly, beyond political games, I would argue that the money should be directed towards real aviation decarbonization efforts, not expensive air taxis for rich people to avoid traffic while getting to the airport. If Germany needs to deploy some capital to support sustainable aviation, there are definitely other companies more suited to receive support: electric aviation: VÆRIDION, flyvbird - an airline at your fingertips, CustomCells e-fuels producers: INERATEC , Hy2gen, CAPHENIA, Spark e-Fuels, P2X-Europe GmbH & Co. KG https://lnkd.in/dTVsAGBH

Really good article here on what’s going on in Urban Air Mobility today. Things like unexpected partnerships between aerospace companies, the likelihood of a legacy manufacturer scooping up the startups, and the trade-offs between electric and hydrogen propulsion. Not to mention the infrastructure for all this and the regulatory environment. Exciting times for sure!

"Alaska’s just-announced investment in JetZero, a Long Beach, California-based company seeking to pioneer the blended-wing-body airliner, is part of the company’s long-term innovation strategy." This is the kind of forward-thinking, strategic investment all large organizations should champion to enable step-function changes in capability. If you can't build it in-house, then collaborate with and support startups who can. Bravo, Alaska Airlines, and godspeed JetZero - I can't wait to experience this new paradigm on commercial aviation in the future! #airlines #innovation #CommercialFlight #BlendedWingBody #BWB #CarbonFiber #sustainability #CuttingEdge #NewTechology #NetZero #ClimateChange

Meanwhile, across the Pond, a UK company, Aerovolt is giving non-commercial pilots access to charging infrastructure at several airfields across southern England. Smaller startup companies are willing to take a shot at the global market as well grappling with Tesla and others who have their eyes on this growing market. Heads Up up CTE policy makers and educators in the aviation education sector, these changes are coming and you have to make sure that your students are ready. Adam Breier, Ed.D., Steven Jackson, Leo Gordon https://lnkd.in/em_YuvN4

Our Friday OEM update this week comes from the EVTOL world. 🛩️ Germany have stalled loan approvals for 2 of the industry leaders LILLIUM GmbH and Volocopter. The question asked is what does this mean on the efforts to de-carbonize aviation? Does this promote other European leaders like Vertical aerospace to monopolize and lead the industry, provide the opportunity for earlier stage Evtol's to step up? Or does this represent a shift in focus and encourage APAC to lead the surge? Something to think about over the weekend, we hope you all have a great bank holiday! https://lnkd.in/e7_Rcy6u #Aviation #Part145 #OEM #Part21Aviation #Engineering #AircraftMaintenance #Part145Maintenance #OEMAviation

Eve Air Mobility is an aerospace company dedicated to the development of an eVTOL (electric Vertical Takeoff and Landing) aircraft and the urban air mobility (UAM) ecosystem that includes aircraft development, service & operations solutions and Vector, an urban air traffic management (Urban ATM) system. Eve is pre-revenue; the company said it does not expect meaningful revenues, if any, during the development phase of its aircraft, and it expect financial results to be mostly related to costs associated with the program’s development during this period. Eve entered into subscription agreements with financial and strategic investors, including Embraer, Space Florida and Nidec Aerospace – its electric-motor supplier for $95.6 million in new equity financing. The company said the additional funding will strengthen its balance sheet and will help support its operations and program investments in the upcoming years. Eve’s cash, cash equivalents, financial investments and related party loan receivable was $206.5 million and total liquidity would have been $338.0 million as of June 30th, 2024. For more detailed information on Eve's financial results and strategic outlook, please read the full 2Q24 Earnings Results release on their Investor Relations website. Read the full text on our blog. #AvfoilNews #EveAirMobility #eVTOL #UrbanAirMobility #UAM #Aerospace #ElectricAircraft #FinancialResults #Investing #AviationTechnology #R&D #UrbanATM #Embraer #SpaceFlorida #Nidec #AviationNews #AerospaceInnovation #AircraftDevelopment #TechFinancing #FutureOfFlight #AviationIndustry #SustainableAviation #MobilitySolutions #InnovationInAviation

📰 🚩 Archer Making Strides in Reducing eVTOL Development Costs Great news for the future of urban air mobility! Archer Aviation is making significant progress in reducing costs associated with developing its Midnight eVTOL aircraft. The company expects to see a decrease in operating expenses during Q2 2024, after incurring high costs in Q1 due to non-recurring expenses and lawsuit charges. This is a positive sign for Archer's progress towards bringing the Midnight to market. The Midnight is a four-passenger electric vertical takeoff and landing aircraft expected to be available in early 2025. Archer is on track to achieve its ambitious goal of 400 test flights with the Midnight this year, and has even begun final assembly of the first production-conforming aircraft at its headquarters in Santa Clara, California. Archer's dedication to cost reduction is a major step forward for the eVTOL industry. By streamlining their development process, Archer is paving the way for more affordable and accessible urban air transportation solutions. #eVTOL #airtaxis #futureofmobility #urbanAirMobility #transportation #futureofflight #FutureOfTravel #USDOT #FAA https://lnkd.in/geyvJ2pR

Eve Air Mobility Secures $94M Equity Financing to Advance #eVTOL Development Eve Air Mobility has announced a significant milestone with the securing of $94 million in new equity financing. This funding, sourced from a diverse group of investors including industrial giants like Embraer and Nidec Aerospace, will support the ongoing development and manufacturing of Eve’s eVTOL aircraft. Key Points: - Funding Details: The capital raise includes the sale of 23.5 million new shares at $4.00 per share, alongside the exchange and issuance of warrants. This private placement aims to yield $94 million in gross proceeds before expenses. - Strategic Investors: The participation of major industrial companies underscores strong market confidence in Eve’s vision and technological capabilities. - Financial Position: The new equity, combined with existing cash reserves and long-term credit lines, places Eve in a robust financial position for future growth and innovation. - Product Development: Eve’s eVTOL design features eight dedicated propellers for vertical flight and fixed wings for cruise, with dual electric motors for propulsion redundancy. This design promises lower operational costs, fewer parts, optimized structures, and minimal noise. - Operational Expansion: Beyond aircraft development, Eve is advancing Vector, an Urban Air Traffic Management software, to enhance and scale Advanced Air Mobility operations globally. - Next Steps: Assembly of the first full-scale eVTOL prototype is nearing completion, with a test campaign to follow. The equity funding is expected to close in the coming weeks, subject to standard conditions. Statements from Leadership: Eduardo Siffert Couto, CFO of Eve Air Mobility, expressed gratitude for the investor confidence, highlighting that the combined new equity, cash, and credit lines ensure a strong position for continued development. This strategic funding round marks a pivotal step in Eve’s journey to revolutionise urban air mobility with cutting-edge eVTOL technology. #Aviation #eVTOL #UrbanAirMobility #Aerospace #ElectricAviation #SustainableTransport #Innovation #TechFunding #Investment #FutureOfFlight #AdvancedAirMobility #EveAirMobility <Source: https://lnkd.in/eBZATVNv>

There are many, many hundreds of different electric aircraft being developed around the world right now. Some will never get off the drawing board, some will make it to a flying prototype and only a handful will likely make it through to a fully certified passenger carrying aircraft. They say that you need to budget of about a billion dollars to bring a new aircraft to market. Tens of billions of dollars have already been thrown at start ups in a scattergun approach as investors take punts on which aircraft will make it through. But there will not be enough money for most of them as investors start to favour the front runners (which are now clearly emerging). Sadly most will not get there and there will be lots of losers and a few winners in this space. However, a fully certified aircraft just gets you to the start line. From there you need to create new business models and use cases that work. The industry will start with these front runners flying from airports and helipads in short hops that will only work if the cost is justified by the time saving. There will be much excitement when the first operations start (and maybe a flurry of extra investment into the second wave of aircraft). However, the whole industry is predicated on a revolution where new landing sites in new locations will be approved due to quieter, safer operations than helicopters can deliver. There is still some way to go to see which countries/states/cities will make the required land use planning rule changes to enable new vertiports. Investment into new Skyportz® locations when they are approved is a much less risky bet than investment into aircraft. For the vertiport industry we don’t mind which aircraft get through as they will all be looking for new landing sites. For those who have punted on aircraft it will become apparent soon that this investment needs to be doubled down into operational networks to facilitate viable businesses for their favoured aircraft. It may be that this shift to vertiport investment will further starve the struggling aircraft developers of funds as the investment focuses on the sure bet front runners and their vertiport infrastructure needs. #investmentopportunities #aam #airtaxis #vertiports #skyportz #mobility #evtol