Electro.Aero completes Seed Round, signs major commercial contract

Company Name: Electro.Aero

Announcement Date: 13/06/2019
Announcement Category: Investment
Announcement Content:

Perth-based electric aviation technology company Electro.Aero recently completed its seed round of $950k on the back of successfully completing a number of commercial prototyping contracts. The company also welcomed Altium co-founder and industry legend Dr David Warren to its Advisory Board. Dr Warren is a strong supporter of the company's vision and technology, and was a major investor in the Seed Round.

With contracts completed for NASA, Bell Helicopter, XTI, UWA and others, Electro.Aero recently signed a major commercial agreement with one of Australia's largest aircraft manufacturers to supply electric propulsion systems for their aircraft. With a direct channel into the booming Chinese market through this manufacturer, the Electro.Aero team is working towards production readiness by the end of 2020. The company is now raising Series A to achieve full commercialisation of the Electro.Aero L.E.A.P.™ propulsion system.

Co-founded by engineer Josh Portlock and pilot Richard Charlton, Electro.Aero has achieved several world firsts in electric aviation, such as owning and operating the world's first commercial electric aircraft. Operating out of their head office and tech lab at busy Jandakot Airport, Electro.Aero has developed world-leading IP in the areas of electric ducted fans and integrated electric propulsion systems for light aviation.

Announcement URL:
About Electro.Aero:

Electro.Aero is developing the L.E.A.P.™ electric propulsion system for light aviation. This revolutionary technology enables a whole new generation of clean, quiet, cost-effective light aircraft. Electro.Aero does not design or build the actual aircraft - just the propulsion system - and sells the full turnkey solution directly to aircraft manufacturers.

Go to Company Profile for: Electro.Aero

Announcement Contact: [email protected]