Australia-based eVTOL developer AMSL Aero has successfully raised an additional $23 million that will be used to commence test flights of its Vertiia aircraft within the next three months. AMSL Aero was founded by husband and wife Andrew Moore and Siobhan Lyndon in 2017 with the vision of decarbonising transport by developing an efficient eVTOL.
CEO Moore says: “We are very pleased by the strong support received from investors in this funding round, which will enable our next stage of growth as we prepare for future flight tests and pre-production. We are one step closer to bringing our innovative technology to market and revolutionising the transport industry by creating a benchmark for green aircraft. Vertiia was purpose-built for the aeromedical, emergency services and passenger markets, and provides a new, safe and affordable transport industry for the future.”
The Vertiia uses patented technology and a unique aerodynamic and structural design to reach speeds of up to 300 km/hr and travel up to 250 km. While initially designed to be battery powered, Vertiia's airframe design will also enable hydrogen to be used as a fuel source. Using hydrogen, the aircraft has the potential to exceed a 1,000 km flying range at a cost per passenger equivalent to using a rideshare service.
The funding round was led by St Baker Energy Innovation Fund (StBEIF), a leading investor in early-stage growth companies in the energy sector. IP Group Australia participated after leading AMSL Aero's previous funding round in 2019, with TelstraSuper and Hostplus also investing.
AMSL Aero previously partnered with Australian aeromedical organisation Careflight and has received contracts from the Australian Department of Defence through the Defence Innovation Hub.
StBEIF CEO Rodger Whitby says: “The founders are absolute pioneers for the aircraft industry and are literally steering the wheel behind Australia's next fleet of energy-efficient travel options. Andrew's experience in aerodynamics and engineering, coupled with Siobhan's proven capability to grow the business, as seen through the winning of key defence contracts and established trials with well-respected customers, has driven AMSL to be positioned as it is today The prospects are promising for this business. We believe it will play a large role in the future of safe, energy efficient and time-saving intercity aircraft travel.”
IP Group Australia managing director Michael Molinari adds: “AMSL Aero is set to be a major player in the aircraft industry as it pioneers energy-efficient, safe and affordable aeromedical and intercity travel. Vertiia has the potential to significantly decarbonise air travel globally and in the near term improve medical access and patient outcomes for Australia's rural and remote communities. We are proud to continue supporting AMSL Aero, following our first investment in the company through our partnership with the University of Sydney, where Vertiia's project work began.”