Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering electric aviation, today welcomes the UK Department for Transport's announcement that funding has been awarded to projects working on next-generation zero-emission aircraft and the development of vertical take-off and landing technology.
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Vertical's piloted VX4 prototype during recent flight testing
Among the initiatives receiving support is the "OxCam AAM Corridor" demonstrator, which is bringing together the expertise of Skyports, Bristow Helicopters, NATS, Vertical Aerospace and Oxfordshire County Council, with the aim to accelerate the transition of Advanced Air Mobility (AAM) from trials to commercially viable, regional operations within the UK. The project will culminate in planned test flights by Vertical Aerospace's VX4 aircraft.
Invested as part of the government's Future Flight programme, delivered by Innovate UK, the funding is designed to secure the UK's global leadership in the future of aviation.
Simon Masters, Deputy Challenge Director for Future Flight at Innovate UK, said: "Innovate UK is proud to continue supporting the UK's future flight ecosystem, accelerating the route to commercial operations and delivering real-world impact. These ambitious new projects highlight the strength of the sector and its diverse applications, from reducing emissions, advancing healthcare delivery and protecting our environment. By focusing on regional adoption, we aim to drive faster, more impactful growth and societal benefits for communities across the UK."
The government has committed £2.3 billion in funding over the next 10 years to the Aerospace Technology Institute programme, which helps the sector to manufacture newer, more efficient, electric aircraft.
Michael Cervenka, Chief Commercial and Strategy Officer at Vertical Aerospace, said:
"The UK is perfectly positioned to lead the next generation of sustainable aviation. By uniting world-class expertise in aircraft design, infrastructure, regulation and operations, this project shows how we can turn ambition into reality. Together, we are laying the groundwork for an entirely new mode of travel that will transform regional connectivity, support our economy and put Britain at the forefront of electric flight."
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. Its VX4 is a piloted, four-passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical is also developing a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market.
Vertical combines partnerships with leading aerospace companies, including GKN, Honeywell, and Aciturri, with its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL.
Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL, and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, UK, Vertical's experienced leadership team comes from top-tier aerospace and automotive 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 harbor 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: statements regarding the receipt of anticipated funding for the "OxCam AAM Corridor" demonstrator, the impact on funding or technology development of the VX4, the receipt of any funding in connection with the UK Aerospace Technology Institute programme; the business strategy and plans and objectives of management for future operations, including certification and the commercialization of the VX4 and the hybrid-electric VX4 variant on any particular timeline or at all; as well as statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate," "will," "aim," "potential," "continue," "is/are likely to" and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. 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 the risks and uncertainties relating to the Company's business, industry performance, the regulatory environment, and general business and economic conditions, and other important factors as discussed under the caption "Risk Factors" in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission ("SEC") on March 11, 2025, as such factors may be updated from time to time in the Company's 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.
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Contacts:
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
