Electra raises new capital for its EL9 aircraft development

Electra.aero, Inc. (Electra) today announced it has secured US$115 million in funding to enter the pre-production and certification phase of the EL9, the ultra-short takeoff and landing aircraft. The EL9 can take off and land in 150 feet (45 m) roughly 10% of the footprint required for similarly-sized existing airplanes.

By integrating blown lift technology with hybrid-electric propulsion, Electra's 9-passenger EL9  offers a range of dual-use capabilities. It operates with a helicopter's landing and takeoff versatility, the quiet of an electric vehicle, and the cost advantage and safety of a fixed-wing, fixed-propeller aircraft. With the EL9, commercial operators may connect communities that lack traditional aviation infrastructure, fly into airports with strict noise restrictions, create new opportunities and business models for cargo services, and save travelers significant time.

The EL9 introduces new logistics and troop transport capabilities for defense operators, including the ability to take off and land with a low signature in helicopter-sized spaces in remote, austere areas.

Electra has secured more than 2200 pre-orders valued at over US$10 billion for the EL9. Additionally, Electra has won over 20 Small Business Innovation Research (SBIR) contracts from the U.S. Air Force, U.S. Army, U.S. Navy, and NASA, and is currently performing on a Strategic Funding Increase contract with the U.S. Air Force to develop the EL9 for military use cases.

"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. "The EL9 Ultra Short opens the door to opportunities to establish new commercial routes, connect communities currently lacking aviation infrastructure, and enable entirely novel logistics capabilities for warfighters. We look forward to working with our partners at Prysm to continue the development of this aircraft and chart a new course for aviation."

The EL9 delivers up to 3000 pounds (1361 kg) of payload and a range of up to 1100 nautical miles (2037 km). Its in-flight battery recharging eliminates the need for ground charging stations. 

Lockheed Martin Ventures, Honeywell, and Safran are among Electra's strategic investors, as well as Prysm Capital, Statkraft Ventures, the Virginia Innovation Partnership Corporation (VIPC), and other private investors. Electra has roughly 80 employees.

(article source: Electra.aero, via PR Newswire / editor: Anton van Rijsbergen)
(image source: Electra.aero, via PR Newswire)