- Vertical’s latest VX4 prototype has performed its first
tethered piloted flight.
- “Wheels up” phase of flight test programme follows the UK
Civil Aviation Authority issuing a Permit to Fly.
- Moment marks the latest development in Vertical’s journey
towards certification.
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace
and technology company pioneering zero-emissions aviation, has seen
its latest VX4 prototype perform its first tethered piloted flight
as it begins the “wheels up” phase of testing.
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Vertical’s Chief Test Pilot, Justin
Paines, the only pilot to have flown two different eVTOLs, conducts
the new VX4’s first hover at 17:45 BST on 25 July 2024 (Photo:
Business Wire)
This VX4 performed a piloted flight while loosely tethered to
the ground, during which Vertical measured over 20,000 flight and
system parameters to verify thrust, handling qualities and system
performance.
The tethered piloted flight took place after the UK Civil
Aviation Authority (CAA) had issued Vertical with a Permit to Fly
for its VX4 prototype, having rigorously evaluated the engineering,
design, test data and aircraft, effectively conducting a “mini
certification” programme of the aircraft.
Vertical must submit documentation to the CAA to move through
each flight phase, including extensive, detailed documentation
covering every aspect from safety protocols and engineering
specifications to operational procedures.
Following initial tethered flights, and once it has received
permission from the CAA to expand the flight envelope, the VX4 will
enter the next phase of testing which will start with further
thrustborne flight testing. This will see the VX4 take-off and land
vertically and conduct low speed flight manoeuvres with lift
generated by the propellers.
Wingborne or conventional flight (CTOL) and the final critical
test stage of piloted transition flight will follow, only once the
CAA’s rigorous approval for this final phase of testing has been
granted.
In advance of today’s first tethered flight, this week, the VX4
has successfully completed extensive ground testing, including
powered propulsion testing of its advanced powertrain, which
features proprietary battery packs capable of delivering 1.4 MW of
peak power and which has been designed and built at the
state-of-the-art Vertical Energy Centre.
Stuart Simpson, CEO of Vertical Aerospace, said:
“The first tethered flight of our new VX4 prototype is the
result of 14 months of hard work – taking this advanced aircraft
all the way from design, through to development and now into the
air. This moment is testament to the skill and commitment of
hundreds of talented colleagues in our business who have made our
VX4 aircraft the best eVTOL out there.
“Everyone at Vertical Aerospace remains laser focused on
achieving piloted transition as we continue to progress towards our
ultimate goal of commercialisation and creating a new legacy for
aviation.”
Notes to Editor
Piloted flight test programme explainer:
- Tethered: the VX4 will perform stabilised hover while
loosely tethered to the ground.
- Thrustborne: the VX4 will take-off and land vertically
and conduct low speed flight manoeuvres with lift generated by the
propellers.
- Wingborne: the VX4 will take-off, fly and land like a
conventional aircraft, with lift generated by the wing.
- Transition: The VX4 will transition between thrustborne
and wingborne flight, and vice versa.
About Vertical Aerospace
Vertical Aerospace is a global aerospace and technology company
pioneering electric aviation.
Vertical is creating a safer, cleaner and quieter way to travel.
Vertical's VX4 is a piloted, four passenger, Electric Vertical
Take-Off and Landing (eVTOL) aircraft, with zero operating
emissions. Vertical combines partnering with leading aerospace
companies, including GKN, Honeywell and Leonardo, with developing
its own proprietary battery and propeller technology to develop the
world’s most advanced and safest eVTOL.
Vertical has 1,500 pre-orders of the VX4 worth $6bn, with
customers across four continents, including Virgin Atlantic,
American Airlines, Japan Airlines, GOL and Bristow. Headquartered
in Bristol, the epicentre of the UK’s aerospace industry, Vertical
was founded in 2016 by Stephen Fitzpatrick, founder of the OVO
Group, Europe’s largest independent energy retailer.
Vertical's experienced leadership team comes from top tier
automotive and aerospace companies such as Rolls-Royce, Airbus, GM
and Leonardo. Together they have previously certified and supported
over 30 different civil and military aircraft and propulsion
systems.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 that relate to our current expectations and views of future
events. We intend such forward-looking statements to be covered by
the safe harbour provisions for forward-looking statements as
contained in Section 27A of the Securities Act and Section 21E of
the Exchange Act. 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 design and manufacture of the
VX4, the features and capabilities of the VX4, business strategy
and plans and objectives of management for future operations,
including the building and testing of our prototype aircrafts on
timelines projected, selection of suppliers, certification and the
commercialization of the VX4 and our ability to achieve regulatory
certification of our aircraft product with any of our intended
regulators on any particular timeline or at all, our ability and
plans to raise additional capital to fund our operations, the
differential strategy compared to our peer group, expectations
surrounding pre-orders and commitments, our future results of
operations and financial position and expected financial
performance and operational performance, liquidity, growth and
profitability strategies, our plans to mitigate the risk that we
are unable to continue as a going concern, our plans for capital
expenditures, 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: our
limited operating history without manufactured non-prototype
aircraft or completed eVTOL aircraft customer order; our 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; our potential inability
to produce, certify or launch aircraft in the volumes or timelines
projected; the potential inability to obtain the necessary
certifications for production and operation within any projected
timeline, or at all; any accidents or incidents involving eVTOL
aircraft could harm our business; our dependence on partners and
suppliers for the components in our aircraft and for operational
needs; the potential that certain strategic partnerships may not
materialize into long-term partnership arrangements; all of the
preorders received are conditional and may be terminated at any
time and any pre-delivery payments may be fully refundable upon
certain specified dates; any circumstances; the inability for our
aircraft to perform at the level we expect and may have potential
defects; any potential failure to effectively manage our growth;
our inability to recruit and retain senior management and other
highly skilled personnel, our ability to raise additional funds
when we need or want them, or at all, to fund our operations; our
limited cash and cash equivalents and recurring losses from our
operations raise significant doubt (or raise substantial doubt as
contemplated by PCAOB standards) regarding our ability to continue
as a going concern; 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 March
14, 2024, as such factors may be updated from time to time in our
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. We disclaim 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/20240726777724/en/
Justin Bates, Head of Communications
justin.bates@vertical-aerospace.com +44 7878 357 463
Samuel Emden, Head of Investor Affairs
samuel.emden@vertical-aerospace.com +44 7816 459 904
Vertical Aerospace (NYSE:EVTL)
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