Virginia, USA-based Electra.aero has raised US$115 million in funding to develop its EL9 Ultra Short aircraft into pre-production and certification.
The company is developing its aircraft, the EL9 to be capable of taking off and landing in just 150ft, about 10% of the space required by similar-sized conventional aircraft.
The funding round was led by Prysm Capital, with managing partner Jay Park joining Electra’s board of directors. “We are delighted to welcome Jay and Prysm to the Electra family,” said John Langford, Electra board chair.
The 9-passenger EL9 combines blown lift technology with hybrid-electric propulsion to achieve VTOL-like versatility with fixed-wing safety and cost advantages. The aircraft can operate from compact spaces and unimproved surfaces including grass fields, parking lots, and repurposed heliports.
“At Electra, we are on a mission to deliver a new era of aviation, a leap forward in advanced air mobility that is both transformational and practical,” said Marc Allen, CEO of Electra.
With a range of up to 1,265 miles (2,000km) and a payload capacity of 3,000 lbs (1,360kg), the EL9 features in-flight battery recharging that eliminates the need for ground charging infrastructure. The company says this capability will allow commercial operators to connect communities lacking traditional aviation infrastructure and operate at airports with strict noise restrictions.
Electra reports securing over 2,200 pre-orders valued at more than US$10 billion for the EL9. The company has also won more than 20 Small Business Innovation Research contracts from US defense agencies and NASA.
“Electra’s EL9 Ultra Short is a game-changing aircraft that unlocks important new capabilities for commercial and defense users,” said Jay Park of Prysm Capital.
For military applications, the EL9 could provide logistics and troop transport capabilities in remote areas using helicopter-sized landing zones while offering mobile power capabilities and maintaining the range advantages of fixed-wing aircraft.
Strategic investors in Electra include Lockheed Martin Ventures, Honeywell, and Safran, alongside Prysm Capital, Statkraft Ventures, and the Virginia Innovation Partnership Corporation.
The company employs around 80 employees and describes itself as a first mover in the Ultra Short aviation category.
