Spain-based aerostructures supplier and engine components manufacturer Aciturri is to acquire a stake in Dovetail Electric Aviation, becoming a key industrial strategic partner and lead investor in Dovetail's seed investment round, Tranche 2.

"We are thrilled to announce our commitment to Dovetail Electric Aviation," says Alvaro Fernandez Baragaño, CEO of Aciturri Aeroengines and chief diversification officer of the Aciturri group. "This partnership represents a significant opportunity to drive innovation in the aviation industry and broaden our contribution to a more sustainable future. We look forward to working closely with Dovetail Electric Aviation to bring its groundbreaking technology to market."

Dovetail CEO David Doral adds: "Aciturri's involvement brings not only financial support but also significant capabilities that will greatly enhance our technology roadmap and accelerate our path to market. Its track record and expertise in high technology aerostructures and engine parts will add immense value to our operations, helping us bring our innovative solutions to market faster and more efficiently."

Dovetail is initially targeting certification of its first battery-electric powered aircraft in 2026, as a first step to bringing a product to the market. Later on, it will focus on the certification of electric-hydrogen aircraft conversions, with preliminary work currently underway on the integration of a first hydrogen-electric powertrain that will extend the range of the battery-powered aircraft.

With this agreement Aciturri becomes the lead investor in the second tranche of Dovetail's seed investment round. With a total target of $7 million, Dovetail split its seed round in two tranches. The first one closed last year, with the airlines Rex in Australia, and Volotea and Air Nostrum in Europe, as the most relevant investors. In this second tranche Aciturri is leading the round, to be closed shortly with the addition of at least one institutional venture capital fund.