Vertical Aerospace Founder Backs Company with Additional $50M Investment Commitment
Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, announces today that it has secured $50 million in committed funding from founder, majority owner and CEO, Stephen Fitzpatrick.
- Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, announces today that it has secured $50 million in committed funding from founder, majority owner and CEO, Stephen Fitzpatrick.
- This funding comes at an important period for the company as it nears the completion of its second-generation, full-scale piloted VX4 prototype at GKN Aerospace’s Global Technology Centre.
- Stephen Fitzpatrick, CEO & Founder of Vertical, said: “Since founding Vertical in 2016 I have continued to believe in the enormous potential the company has to pioneer zero carbon aviation.
- The Company and Mr. Fitzpatrick have entered into a legally binding term sheet agreement in respect of an equity investment by Mr. Fitzpatrick.