Climate tech venture capital fund Statkraft Ventures has made an investment in Electra.aero that will enable the electric aviation company to further develop its hybrid-electric ultra-short take off and landing (eSTOL) aircraft.

Electra's eSTOL aircraft is designed for quiet, efficient and affordable flight operations from runways as short as 150 ft, bringing air travel closer to local communities and connecting previously underserved regions. By offering a viable air travel option for shorter regional routes, the Electra eSTOL aircraft provides an eco-friendly alternative to lengthy road trips in personal cars, cutting both travel times and emissions. Electra recently unveiled its technology demonstrator and will begin flight testing later this summer.

"We are excited to partner with Electra as it is leading the change towards more sustainable aviation," says managing director Alexander Kueppers. "Its visionary approach and groundbreaking technology to electrify aircraft, reducing operating costs and emissions at the same time, align perfectly with Statkraft Ventures' mission to support innovative startups that drive the transition to a low-carbon economy."

This investment leverages Statkraft Ventures' expertise in sustainable energy transition to accelerate the development and commercialisation of Electra's nine passenger production aircraft. Electra currently holds over 1,200 aircraft pre-orders from more than 30 global customers, both established aircraft operators as well as new entrants.

“Statkraft Ventures brings a deep commitment to supporting companies and technologies that reduce emissions and address the threat of climate change. We are honoured to have it on our team and look forward to learning from its insight and experience,” says Electra CEO John S Langford.