50 SKY SHADES - World aviation news

Lockheed Martin Ventures leads series A funding round for Electra.aero

Download: Printable PDF Date: 18 Jan 2022 19:29 (UTC) categories:
Lockheed Martin Ventures leads series A funding round for Electra.aero - Finance publisher
Dana Ermolenko
Country: United States Aircraft: Airplanes

Electra announced that it has received an investment in its Series A funding round from Lockheed Martin Ventures. The funding will support Electra's plans to begin flight testing a full-scale hybrid eSTOL technology demonstrator aircraft later this year.   

"Electra's technical approach to sustainable aviation is differentiated, and we are excited to see this concept mature," said Chris Moran, Vice President and General Manager of LMV. "We invested in Electra because of its focus on hybrid-electric technology. Hybrid-electric aircraft have the potential to deliver operational and environmental advantages over other aircraft, including increased payload and range without gambling on battery improvements. We look forward to working with the Electra team and hope to partner on opportunities in the future."

"Hybrid-electric propulsion will influence every aspect of aviation," said John S. Langford, Founder and CEO of Electra. "We are excited to welcome Lockheed Martin Ventures as one of our strategic and key investors in our Series A funding round. Lockheed Martin is a leader in aerospace and defense, and we believe this relationship is a complementary one for Electra and Lockheed Martin. We're honored to have them on our team."

Electra's hybrid-electric, ultra-short takeoff and landing (eSTOL) aircraft can operate from spaces as small as 300x100 feet using its patent-pending distributed electric propulsion and blown lift technology. A small turbine-powered generator also recharges the batteries mid-flight, eliminating the need for new ground charging infrastructure. The quieter and more environmentally friendly aircraft is currently being designed to transport up to 1,800 pounds of cargo or move 7 to 9 passengers up to 500 miles. Electra's aircraft  can operate in a variety of environments ranging from busy urban areas to remote landing strips, and fly missions ranging from on-demand intracity flights to medical missions, cargo transportation, scheduled passenger service, and more. The global urban and regional advanced air mobility market that Electra serves is forecast by analysts to be valued between $250 billion and $1 trillion by 2040.


Loading comments for Lockheed Martin Ventures leads series A funding round for Electra.aero...


Embraer opens 1,000 job vacancies in Brazil

Embraer announced the opening of a thousand job vacancies in Brazil with a focus on production rate recovering, Services and Support area growth, product development and new businesses. Appl...

REGENT announced a strategic investment from Hawaiian Airlines

REGENT announced that Hawaiian Airlines has agreed to strategically invest in the company to support the initial design of its next generation 100-person capacity all-electric seaglider known as the M...

FAA approves airworthiness criteria for Wingcopter, marking important milestone in U.S. Type Certification process

German drone delivery pioneer Wingcopter is delighted to announce that the Federal Aviation Administration (FAA) has issued the Special Class Airworthiness Criteria for the Wingcopter 198 US unmanned...

Piston single, turboprop aircraft values still gaining altitude despite continued growth in inventory levels

The latest Sandhills Global market report on the aviation industry reflects a third consecutive month of inventory expansion across all categories after a long, steady decline. However, the recen...

The drones news