In support of Europe's Green Deal Strategy and Recovery Plan, VoltAero has been selected by the European Innovation Council as one of the start-ups and SMEs (small and medium enterprises) to receive multi-million-euro funding.
Based in Médis, France, the company was chosen for an initial 2.1 million euro grant and is also designated for blended financing at a higher value that includes an equity portion of up to 11 million euros.
VoltAero was among the very top-rated companies in a jury's assessment of 2,077 candidates for this European Union project's funding. Receiving a ‘seal of excellence’, the Cassio project was recognised for its motivated team, aviation knowledge and experience, as well as a sound business model and commercial analysis.
“The European Innovation Council's grant is another vote of confidence for our commitment in taking electric aircraft to an entirely new level,” explains Marina Evans, VoltAero's director general and co-founder. “This is a recognition of how hybrid-electric aircraft can unleash a revolution in fast, convenient and eco-efficient regional travel, in which our Cassio airplane family will have an important role.”
Jean Botti, VoltAero's CEO and chief technology officer, adds: “The European Union project funding keeps us on track for our highly pragmatic and realistic strategy to create an all-new hybrid-electric aircraft family, with the goal to initiate deliveries of production-version Cassio airplanes in 2023.”
“We support visionary entrepreneurs who create transformative solutions to pressing societal and environmental challenges, supporting the Green Deal and the Recovery Plan for Europe,” says Mariya Gabriel, the European Union's commissioner for innovation, research, culture, education and youth. “These start-ups and SMEs are set to scale up, creating jobs and growth and giving Europe the global lead in green technologies and solutions.”
VoltAero is developing a family of hybrid-electric aircraft for uses that include commercial flights on point-to-point regional routes, operations by air taxi/charter companies, deployment in various utility-category applications and for private owners. The aircraft will be offered in three versions accommodating from four to 10 seats, with each sharing a high degree of modularity and commonality.