JetZero has closed a senior secured term loan facility of up to $100 million led by Pinegrove Credit Partners and Silicon Valley Bank to accelerate development and U.S. manufacturing of its Z4 all-wing commercial aircraft.
The financing will support technology maturation, manufacturing of the full-scale Jet1 demonstrator and construction of JetZero’s manufacturing and testing facilities in Greensboro, North Carolina.
Capital will also provide working capital for the company’s broader U.S. operations.
JetZero is developing the Z4 for the approximately 250-passenger middle market.
The company is targeting a range of as much as 5,000 nautical miles and says its all-wing architecture is designed to reduce fuel consumption and emissions by up to 50% relative to conventional tube-and-wing aircraft carrying a comparable number of passengers.
The performance targets remain dependent on the aircraft successfully completing development, testing and certification.
The lender group includes Pinegrove Credit Partners, backed by Brookfield and HRTG Partners, together with Silicon Valley Bank, a division of First Citizens Bank.
JetZero is currently building its Jet1 full-scale demonstrator with Scaled Composites, a Northrop Grumman company.
The demonstrator was approximately 40% complete as of June 2026, with its first flight scheduled for the fourth quarter of 2027.
JetZero broke ground on Factory1, its Z4 manufacturing facility in North Carolina, in June.
The company plans to hire more than 14,000 workers in the state over a 10-year period as the program scales.
The Z4 is currently expected to enter service during the early 2030s.
KEY QUOTES:
“Through this facility, we will fund tooling and production facilities in North Carolina, advancing aerospace innovation and reindustrializing America.”
Tom O’Leary, CEO And Co-Founder Of JetZero
“JetZero is moving from demonstration to production, and that transition is where capital structure matters most.”
Craig Caukin, Partner At Pinegrove
