IP Group's AMSL Aero electric aircraft hails maiden flight

(Sharecast News) - Australia's AMSL Aero, a portfolio company of UK science and innovation investor IP Group, on Monday said its Vertiia electric vertical take-off and landing aircraft (eVTOL) had completed its first untethered flights. The hydrogen-powered Vertiia is Australia's first long-range, passenger-capable and emission-free aircraft, IP said in a statement.

Its landmark flight under battery power and under remote control earlier this month was the first by an Australian-designed and built eVTOL - which takes off and lands like a helicopter but flies like a fixed-wing aeroplane, it added.

Since the first untethered flight the aircraft has since taken off, flown and landed successfully more than 50 times.

Vertiia has been designed to fly up to 1,000km on hydrogen at a cruising speed of 300km/hour with zero carbon emissions, carrying up to four passengers and a pilot.

The maiden test flight was performed in the New South Wales. AMSL Aero will begin hydrogen-fuelled flight testing of Vertiia in 2025.

IP Group said AMSL Aero had received deposits for 26 Vertiia aircraft orders from civil customers including 20 from Aviation Logistics, which operates the Air Link, AirMed and Chartair brands covering passenger services, aircraft charter, air freight and aeromedical flights across Australia.

The company has an undiluted holding of 34.0% in AMSL Aero while IP Group's managed private funds hold an additional 14.7%.

Reporting by Frank Prenesti for Sharecast.com