Bristol-based Vertical Aerospace, a leader in sustainable electric aviation, has secured €47.6 million ($50 million USD) in funding as part of a €171.1 million ($180 million USD) financial restructuring deal with Mudrick Capital Management. This funding bolsters Vertical’s financial stability and supports its ambitious Flightpath 2030 Strategy.
The deal includes an upfront investment of €23.74 million ($25 million USD) and an additional €23.74 million backstop, potentially reduced by third-party funds. Additionally, €123.49 million ($130 million USD) of convertible debt will be converted into equity at $2.75 per share, significantly reducing Vertical’s debt burden.
“This comprehensive deal positions Vertical as a leader in pioneering zero-emission electric aircraft,” said Stephen Fitzpatrick, founder of Vertical Aerospace.
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Advancing the VX4 and Certification Milestones
The funding supports the development and certification of the VX4, a piloted four-passenger eVTOL aircraft with zero operating emissions. Recent progress includes the successful completion of untethered, piloted thrustborne flights in Phase 2. Vertical now works with the UK Civil Aviation Authority to obtain permits for Phase 3 wingborne flight tests.
“The VX4 represents a transformative step in sustainable aviation,” said CEO Stuart Simpson. “This funding enables us to focus on bringing the VX4 to market and leading the global eVTOL sector.”
Backed by Leading Investors
Jason Mudrick, founder of Mudrick Capital, highlighted the potential: “Our investment underscores confidence in Vertical’s innovative solutions and ability to redefine sustainable aviation.”
Shaping the Future of Zero-Emission Aviation
Since its founding in 2016, Vertical Aerospace has accumulated approximately 1,500 pre-orders for the VX4 from major players like American Airlines, Japan Airlines, and Bristow. The company collaborates with global aerospace firms, including GKN, Honeywell, and Leonardo, while developing proprietary technology for batteries and propulsion systems.
As Vertical Aerospace accelerates its piloted flight test program, it cements its position as a front-runner in the race to decarbonize aviation and redefine urban mobility.
