Xcalibur Smart Mapping is to receive up to EUR 40 million in funding from Kartesia Asset Finance (managed by Flexam) and Miralta Credit Opportunities. This investment will enable the Spanish-headquartered operator to strengthen its position as ab leader in airborne geophysics and natural resource mapping.

The funds will be used to expand the company's aircraft fleet, including both fixed wing aircraft and helicopters. This new fleet will increase Xcalibur Smart Mapping's operational and technological capabilities, ensuring more efficient services in the exploration and assessment of key resources such as critical minerals, hydrogen and geothermal energy, essential elements for a global and fair energy transition.

“This funding not only ensures the optimisation of our current operations but also strengthens our ability to take on new global projects more efficiently. It is a decisive step in achieving our strategic goals and reaffirming our leadership in the international market,” says Joaquín López, CEO of Xcalibur Aviation, the company responsible, within Xcalibur Smart Mapping group, for managing the acquisition and availability of aircraft for its subsidiaries.

“Flexam is honoured to support the global expansion of the Xcalibur Smart Mapping group. This transaction fully matches our investment philosophy, which aims at supporting the development of sustainable solutions in energy transition. We look forward to increasing our collaboration with Xcalibur Smart Mapping and our activity in Spain,” notes Florian de Sigy, managing partner at Flexam.

“Our objective is to support the growth of Spanish companies through alternative financing. Xcalibur Smart Mapping is a global leader in airborne geophysics, with a competitive technological advantage that allows it to locate and map essential natural resources for the energy transition while minimising environmental impact,” explains Mariano Echeguren, managing partner of Miralta Credit Opportunities.

Xcalibur Smart Mapping currently operates a fleet of over 40 aircraft, including the Cessna 208 and PAC 750.