Electra.aero announced it has secured $115 million in Series B funding to enter the pre-production and certification phase of the EL9, the first-ever Ultra Short aircraft, which can take off and land in 150 feet, which is roughly 10% of the footprint required for similarly-sized legacy airplanes. Prysm Capital led the funding round. Lockheed Martin Ventures, Honeywell, and Safran are among Electra’s strategic investors, Prysm Capital, Statkraft Ventures, the Virginia Innovation Partnership Corporation (VIPC), and other private investors.
What Electra.aero does: By integrating blown lift technology with hybrid-electric propulsion, Electra’s 9-passenger EL9 Ultra Short provides a range of transformative dual-use capabilities. And it operates with the landing and takeoff versatility of a helicopter, the quiet of an EV, and the cost advantage and safety of a fixed-wing, fixed-propeller aircraft.
With the EL9, commercial operators could connect communities that lack traditional aviation infrastructure, fly into airports with strict noise restrictions, create new opportunities and business models for cargo services, and save travelers significant time.
For defense operators, the EL9 introduced novel logistics and troop transport capabilities, such as the ability to take off and land with a low signature in helicopter-sized spaces in remote, austere areas. It also provided mobile power capabilities while building on the safety, cost, and range advantages of a fixed-wing aircraft.
Electra secured over 2,200 pre-orders valued at over $10 billion for the EL9, marking one of the largest provisional order pipelines in the commercial Advanced Air Mobility sector. And Electra has won over 20 Small Business Innovation Research (SBIR) contracts from the U.S. Air Force, U.S. Army, U.S. Navy, and NASA, and is currently performing on a Strategic Funding Increase contract with the U.S. Air Force to develop the EL9 for military use cases.
The EL9 offers up to 3,000 pounds of payload and a range of up to 1,100 nautical miles, with in-flight battery recharging that eliminates the need for ground charging stations. And the ability to operate from compact spaces and unimproved surfaces such as grass fields, parking lots, and repurposed heliports opens new routes and economic opportunities, making regional air mobility for passengers and cargo more affordable and accessible than ever.
New board member: Jay Park, Co-Founder and Managing Partner at Prysm, has joined Electra’s Board of Directors.
KEY QUOTES:
“We are delighted to welcome Jay and Prysm to the Electra family. They’ve already become an indispensable partner and advisor as we transition from prototype to product with the EL9.”
– Electra Board Chair John Langford
“At Electra, we are on a mission to deliver a new era of aviation, a leap forward in advanced air mobility that is both transformational and practical. The EL9 Ultra Short opens the door to opportunities to establish new commercial routes, connect communities currently lacking aviation infrastructure, and enable entirely novel logistics capabilities for warfighters. We look forward to working with our partners at Prysm to continue the development of this aircraft and chart a new course for aviation.”
– Marc Allen, CEO of Electra
“Electra’s EL9 Ultra Short is a game-changing aircraft that unlocks important new capabilities for commercial and defense users. The EL9 is the flagship of Electra’s future family of aircraft that will transform aviation with hybrid-electric technology. We are excited to partner with Marc, John and the team in their commitment to innovating and expanding air mobility solutions.”
– Jay Park
