Post by PB on Jun 11, 2021 10:33:48 GMT
11/06/21
Reported in today's Telegraph via MSN... Could this be a window into future commuting where airfield's such as Blackbushe could play their part? Or just a headline?
Richard Branson and Rolls-Royce back £3bn plan for electric air taxis
Report written by Oliver Gill
Sir Richard Branson’s Virgin Atlantic and Rolls-Royce are among a clutch of firms backing a £2.8bn British project to build up to 1,000 electric vertical takeoff planes.
Vertical Aerospace, the brainchild of Ovo energy founder Stephen Fitzpatrick, is to float in the US by merging with a blank-cheque company, it was announced overnight.
American Airlines and leasing firm Avolon have pre-ordered aircraft with Virgin Atlantic agreeing to a pre-order option. Total orders are valued at $4bn (£2.8bn).
Vertical’s planes are expected to reach speeds of more than 200mph, be “near silent” and have zero emissions.
Richard Branson, founder of Virgin Group, poses for a photograph on board of his new cruise liner, the Scarlet Lady at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon Dawson © Reuters Richard Branson, founder of Virgin Group, poses for a photograph on board of his new cruise liner, the Scarlet Lady at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon Dawson
Other investors include a venture capital firm owned by Microsoft. Mr Fitzpatrick will remain Vertical’s largest shareholder. He said: “The UK is already a global leader in aerospace innovation and we believe Vertical Aerospace will be the British engineering champion to drive the aviation industry forward.”
British entrepreneur Hugh Osmond is chairman of Broadstone, the special purpose acquisition vehicle into which Vertical will merge. He said: “Transportation is one of the next big sectors of the global economy to be disrupted at scale. Vertical has a clear commercial plan to challenge short-haul air travel, and to create new markets where neither cars nor public transport can cope with demand.
“Stephen has built an outstanding management and engineering team with extensive experience in navigating the aviation regulatory approval processes."
The investment comes as the aviation industry, battered by the pandemic, faces a renewed backlash from environmental campaigners who seek to “flight-shame” the public into reducing air travel. Executives are now racing to find ways to reduce the sector’s carbon footprint and boost their environmental, social and governance scores.
Analysts say making Vertical’s plans a reality will depend on the length of time it will take watchdogs to certify new electric aircraft.
Warren East, chief executive of Rolls-Royce, said: “Rolls-Royce is the leading supplier of all-electric and hybrid-electric power and propulsion systems for aviation and this exciting opportunity demonstrates our joint ambitions to lead the way in the new urban air mobility market.”
Domhnal Slattery, chief executive of Avolon told Reuters: "If you think about transportation strategically, this is the next big frontier.
“Whether it is airlines operating this as an add-on product or ride-sharing businesses in different jurisdictions, I think it is going to take a lot of different forms over time."
Reported in today's Telegraph via MSN... Could this be a window into future commuting where airfield's such as Blackbushe could play their part? Or just a headline?
Richard Branson and Rolls-Royce back £3bn plan for electric air taxis
Report written by Oliver Gill
Sir Richard Branson’s Virgin Atlantic and Rolls-Royce are among a clutch of firms backing a £2.8bn British project to build up to 1,000 electric vertical takeoff planes.
Vertical Aerospace, the brainchild of Ovo energy founder Stephen Fitzpatrick, is to float in the US by merging with a blank-cheque company, it was announced overnight.
American Airlines and leasing firm Avolon have pre-ordered aircraft with Virgin Atlantic agreeing to a pre-order option. Total orders are valued at $4bn (£2.8bn).
Vertical’s planes are expected to reach speeds of more than 200mph, be “near silent” and have zero emissions.
Richard Branson, founder of Virgin Group, poses for a photograph on board of his new cruise liner, the Scarlet Lady at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon Dawson © Reuters Richard Branson, founder of Virgin Group, poses for a photograph on board of his new cruise liner, the Scarlet Lady at Dover Port in Dover, Britain, February 21, 2020. REUTERS/Simon Dawson
Other investors include a venture capital firm owned by Microsoft. Mr Fitzpatrick will remain Vertical’s largest shareholder. He said: “The UK is already a global leader in aerospace innovation and we believe Vertical Aerospace will be the British engineering champion to drive the aviation industry forward.”
British entrepreneur Hugh Osmond is chairman of Broadstone, the special purpose acquisition vehicle into which Vertical will merge. He said: “Transportation is one of the next big sectors of the global economy to be disrupted at scale. Vertical has a clear commercial plan to challenge short-haul air travel, and to create new markets where neither cars nor public transport can cope with demand.
“Stephen has built an outstanding management and engineering team with extensive experience in navigating the aviation regulatory approval processes."
The investment comes as the aviation industry, battered by the pandemic, faces a renewed backlash from environmental campaigners who seek to “flight-shame” the public into reducing air travel. Executives are now racing to find ways to reduce the sector’s carbon footprint and boost their environmental, social and governance scores.
Analysts say making Vertical’s plans a reality will depend on the length of time it will take watchdogs to certify new electric aircraft.
Warren East, chief executive of Rolls-Royce, said: “Rolls-Royce is the leading supplier of all-electric and hybrid-electric power and propulsion systems for aviation and this exciting opportunity demonstrates our joint ambitions to lead the way in the new urban air mobility market.”
Domhnal Slattery, chief executive of Avolon told Reuters: "If you think about transportation strategically, this is the next big frontier.
“Whether it is airlines operating this as an add-on product or ride-sharing businesses in different jurisdictions, I think it is going to take a lot of different forms over time."