Vertical Aerospace has revealed that Stephen Fitzpatrick, the company’s founder, majority owner and CEO, has committed up to US$50 million in funding to extend what the company calls its ‘cash runway’ from the end of this year to the second quarter of next year and will allow the development toward certification of the VX-4 eVTOL to continue as planned.
In addition, the company has revealed plans to display the aircraft at this summer’s Farnborough Airshow as well as to and from London’s Heathrow Airport.
Since Vertical has already revealed that it does not expect certification of the VX-4 before the end of 2026, it is apparent that although the new investment eases the fiscal situation dramatically, there remains a significant funding gap between Q2 2025 and certification and the expectation of significant revenues in late 2026. It would seem that the cash injection from Stephen Fitzpatrick is intended to not only provide financial relief but also encourage investment from other investors.
Stephen Fitzpatrick, CEO and 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 has achieved significant technical progress both in its prototype programme and its certification plans in 2023, that I believe is not reflected in our share price. Given the success I have seen in the past 12 months, I am more confident than ever in our world-class team, and I am delighted to further support the company with additional funding.”
Meanwhile, Mike Flewitt, Chairman of Vertical, said: “I am delighted that Stephen has committed to further funding Vertical. His vision and funding to date have enabled Vertical to be a frontrunner in the Advanced Air Mobility industry, and I look forward to both our demonstrations and the completion of additional funding rounds to deliver on the promise the VX-4 has to offer our customers and their passengers. We are on track to deliver a transformative UK-developed electric aircraft to our customers across the globe.”
