The company is leading the race to develop an all-electric vertical take-off and landing (EVTOL) aircraft
A Bristol-based company working to develop a ‘flying taxi’ has secured a fresh $100m cash injection. Vertical Aerospace said it would use the finance package to carry out a design review, open a new energy centre for battery production and retrofit the firm’s third prototype for hybrid-electric flight testing in the first half of 2027.
The New York-listed company is also planning to fund a production facility in the UK in future.
The finance package included $40m from US-based Mudrick Capital Management and a $25m issuance from Yorkville Advisors – two major current stakeholders – as well as a $35m equity investment from new and existing investors.
It is understood the deal is being managed by bankers at Jefferies.
Stuart Simpson, chief executive of Vertical Aerospace, said: “We are focused on converting operational progress and partner engagement into continued advancement of our certification and commercialisation strategy.
“The support, reflected in these financings via new investors alongside further commitments from existing investors, demonstrates strong confidence in Vertical’s market position and progress, providing near-term flexibility to execute the next phase of our plan.”
Vertical Aerospace was set up by Ovo Energy founder Stephen Fitzpatrick a decade ago and is based on Chapel St in Bristol. The business floated on the New York Stock Exchange in 2021 and is leading the race to develop an all-electric vertical take-off and landing (EVTOL) aircraft.
The latest injection of capital follows a period of operational and commercial momentum for the company which earlier this year became only the second firm of its kind to complete a piloted transition flight in a full-scale tiltrotor eVTOL.
In July, Vertical also carried out a number of demonstrations at Farnborough Air Show, including the first public piloted eVTOL flight, showcasing how its aircraft will operate in real-world environments.
Last year, the company said its aircraft could be ready for commercial use by 2028 if it secured financing. Vertical is planning to build a factory at Cotswold Airport, near Kemble in Gloucestershire, next to its existing flight test centre.
The business is already in advanced discussions with the UK government about a grant worth up to £10m to support the development of production facilities in Britain. It said this week it had also received “confirmed interest” from the Ministry of Defence in its hybrid-electric and autonomous capabilities.








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