Rolls-Royce

Clean, congestion-free air travel gets liftoff

Passenger eVTOL Aircraft

<div>
 
 Vertical Aerospace, a UK-based global aerospace and technology company, specializes in the design, manufacturing, and sale of eVTOL aircraft with zero operating emissions with a primary focus on catering to the Advanced Air Mobility (AAM) market. The company built and flew two prototype eVTOL aircraft in 2018 and 2019 and was developing and progressing toward the certification of its flagship eVTOL, the VX4. As of March 2023, the company had engaged with various regulatory bodies, including the UK Civil Aviation Authority (CAA), the European Union Aviation Safety Agency (EASA), the US Federal Aviation Administration (FAA), and the Japan Civil Aviation Bureau (JCAB), to obtain certification, and claimed to be one of the only eVTOL designers and original equipment manufacturers (OEM) actively seeking certification from the CAA or the EASA for a winged aircraft.
 
 
 The VX4 eVTOL developed by Vertical Aerospace is designed to transport a pilot and accommodate up to four passengers, enabling travel distances of up to 100 miles at a cruise speed of 150 miles per hour. As of March 2023, the VX4 prototype had successfully completed piloted flight tests and was progressing to the next stages of the flight test program. These upcoming phases would involve reaching higher altitudes and speeds, as well as demonstrating the transition from vertical to horizontal flight. The company has invested in certain proprietary features of its aircraft, including the battery system and propeller design.
 
 
 Key customers and partnerships
 
 
 The company has collaborations with renowned aerospace and engineering companies like Rolls-Royce (electric propulsion unit), Honeywell (avionics and flight control), Microsoft (digital systems), GKN (wing), Leonardo (fuselage), and Solvay (composite materials). Vertical Aerospace would leverage their extensive R&amp;D expertise, which allows Vertical Aerospace to enhance its own capabilities, minimize operational risks, and streamline the certification process for its aircraft.
 
 
 As of March 2023, Vertical Aerospace had a pre-order backlog of more than 1,400 aircraft from a wide array of customers around the globe, opening up opportunities for market entry in the near future. The customer base includes renowned entities like American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet, FLYINGGROUP, Japan Airlines (JAL), Gol, Air Greenland, Gozen Holding, and AirAsia. Furthermore, Avolon's VX4 placements contribute to the expanding list of influential partners collaborating with Vertical Aerospace.
 
 
 Funding and financials
 
 
 In 
 <a href="https://www.prnewswire.com/news-releases/vertical-aerospace-lists-on-nyse-following-merger-with-broadstone-acquisition-corp-301446030.html">
 December 2021
 </a>
 , the company was listed on the NYSE (EVTL) through a SPAC deal, where proceeds raised plus the issuance of convertible senior secured notes was ~USD 300 million.
 
 
 Vertical Aerospace recorded an EBIT loss of GBP 98 million (~USD 124 million) in 2022, primarily reflecting employee costs associated with the developments. The company's R&amp;D costs of GBP 49 million (~USD 62 million) reflected a higher R&amp;D team headcount mainly related to investments in certain proprietary features of its aircraft, including the battery system and propeller design.
 
 
 
</div>

<div>
 
 Eve Holding, Inc., a leading aerospace company with operations in Melbourne, Florida, and Brazil, is focused on developing next-generation Urban Air Mobility (UAM) solutions. Its UAM offering encompasses the design and production of eVTOLs, maintenance, and support services for its own and third-party eVTOLs, fleet operations services in collaboration with partners, and an advanced Urban Air Traffic Management (UATM) system. The company is uniquely positioned to develop, certify, and commercialize its UAM solution on a global scale, with its aviation heritage, strategic partnership with Embraer S.A., extensive technology, and intellectual property portfolio.
 
 
 Eve's eVTOL aircraft has a seating capacity for four passengers and a pilot. Once autonomous flight is certified, it would be able to carry up to six passengers. Its unique lift + cruise design, combining fixed wings, rotors, and pushers, ensures safety, efficiency, reliability, and certification. With a range of 60 miles (100 km), Eve's eVTOL provides a sustainable transportation option with reduced noise levels, particularly during cruise. Eve has achieved significant milestones in the development of its eVTOL aircraft, including engineering simulations, subscale test flights, wind tunnel tests, and full-scale ground tests. These advancements have enhanced the technological capability and maturity of its eVTOL, with an expected entry into service in 2026.&nbsp;
 
 
 Key customers and partnerships
 
 
 Eve's partnership with Embraer grants Eve a royalty-free license to Embraer's intellectual property for use in the UAM market, access to skilled Embraer employees, and use of Embraer's global infrastructure. This strategic alignment provides Eve with cost and execution advantages for scaling its UAM solution worldwide.
 
 
 The company partnered with Porsche Consulting, Inc. in 
 <a href="https://ir.eveairmobility.com/news-events/press-releases/detail/9/eve-partners-with-porsche-consulting-to-define-evtol-global">
 May 2022
 </a>
 , to help define the eVTOL supply chain, global manufacturing, and logistics macro strategy. In 
 <a href="https://ir.eveairmobility.com/news-events/press-releases/detail/19/blade-and-eve-announce-strategic-partnership-to-expand">
 September 2022
 </a>
 , Eve Announced a strategic partnership with BLADE to expand the urban air mobility ecosystem in India, and further expanded partnership in 
 <a href="https://yqqqphhcg2hvaaua-test001.pj-initial.net/updates/19530">
 June 2023
 </a>
 to accelerate electric air mobility in Europe. In 
 <a href="https://united.mediaroom.com/2022-09-08-United-Invests-Another-15-Million-in-Electric-Flying-Taxi-Market-with-Eve">
 2022
 </a>
 , United Airlines made a USD 15 million investment in Eve Air Mobility and a conditional purchase agreement for 200 four-seat electric aircraft plus 200 options, expecting the first deliveries as early as 2026. Further, in 
 <a href="https://yqqqphhcg2hvaaua-test001.pj-initial.net/updates/19528">
 June 2023
 </a>
 , the company announced a collaboration to bring first electric commuter flights to San Francisco.&nbsp;
 
 
 Funding and financials
 
 
 In May 2022, Eve was listed on the NYSE (EVEX) through a SPAC deal, where the newly combined business raised USD 337 million in gross proceeds to support the development, certification, and commercialization of Eve's UAM plans, including manufacturing, service and support, fleet operations, and air traffic management. In 
 <a href="https://eveairmobility.com/united-invests-another-15-million-in-electric-flying-taxi-market-with-eve/">
 September 2022
 </a>
 , United Airlines invested USD 15 million in post-IPO equity in the company.
 
 
 Eve recorded an EBIT loss of USD 189 million in 2022, primarily reflecting employee costs associated with the development and new warrant expenses. The company's R&amp;D costs of USD 52 million reflected a higher R&amp;D team headcount mainly related to eVTOL and UATM development, as well as higher engineering expenses contemplated in MSA agreements with Embraer S.A. (ERJ) and its subsidiary Atech.
 
 
 
</div>

Eve Air Mobility develops air mobility solutions to advance the urban air mobility ecosystem. Eve's system includes an advanced electric vertical takeoff and landing vehicle project, comprehensive global services and support network, and an air traffic management solution, providing clients with a safe, accessible, and green air mobility ecosystem.

Vertical Aerospace builds technology to revolutionize how people fly, by making air travel personal, on-demand, and carbon-free. Since its inception in 2016, Vertical Aerospace has grown to over 70 world-class engineers and technical experts, recruited from the likes of Airbus, Boeing, Rolls-Royce, and Jaguar Land Rover. In 2019 they launched its second aircraft, the Seraph, making the first company in the world to release flight footage of an aircraft capable of carrying 250kg.

Kowry Energy is an energy services provider. They offer to empower local, independent energy companies to accelerate their operations in serving businesses and communities with reliable, sustainable, and affordable energy access. The company specializes in project development, engineering, procuring equipment and financing, asset management, and energy access, thereby serving small and medium businesses with power at lower costs through hybridization.

Rolls-Royce is an industrial technology company that provides integrated power and propulsion solutions. Rolls-Royce is a power systems provider that designs, manufactures, and supports a range of products and services for air, sea, and land applications. From transportation and energy to the built environment, the company operates in some of the most intricate and crucial sectors of the global economy. The products and services offered by Rolls Royce help their clients connect people, societies, cultures, and economies. They also help meet the growing demand for power generation across numerous industries and allow governments to provide their armed forces with the necessary power to protect their citizens.

<div> Rolls-Royce is an industrial technology company that provides integrated power and propulsion solutions. Rolls-Royce is a power systems provider that designs, manufactures, and supports a range of products and services for air, sea, and land applications. From transportation and energy to the built environment, the company operates in some of the most intricate and crucial sectors of the global economy. The products and services offered by Rolls Royce help their clients connect people, societies, cultures, and economies. They also help meet the growing demand for power generation across numerous industries and allow governments to provide their armed forces with the necessary power to protect their citizens. </div>

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