This marks the significant advancement of November’s agreement in principle, aimed at strengthening Vertical’s balance sheet by approximately $180m and accelerating its Flightpath 2030 strategy.

The vertiport is being constructed adjacent to Bicester Motion’s existing general aviation grass runways and is due to be completed in early 2025.

By committing up to $50m and converting substantial debt into equity, Mudrick and Stephen Fitzpatrick are supporting Vertical, its leadership team and partners as it progresses through the certification programme.