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Vertical Aerospace Founder and CEO Stephen Fitzpatrick Backs Company with Additional $50M Investment Commitment

Author: Benzinga Newsdesk | January 22, 2024 05:46am

Vertical Aerospace (Vertical) (NYSE:EVTL), a global aerospace and technology company that is pioneering zero-emissions aviation, announces today that it has secured $50 million in committed funding from founder, majority owner and CEO, Stephen Fitzpatrick. The investment provides the platform for further funding rounds and extends Vertical's projected cash runway into Q2 2025, supporting the continued development of the certification aircraft design following prototype testing this year. This certification aircraft will then go into final regulatory testing before production.

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