- Vertical and Leonardo to collaborate on the development of
the fuselage for Vertical’s VX4 electric aircraft
- Leonardo is lending its expertise, honed on numerous civil
and defence aerospace programs, to Vertical’s aircraft
- The collaboration is for an initial six certification
aircraft but may scale up to mass production of 2,000 VX4s per
year, to meet Vertical’s market-leading pre-order book
- The partnership between Vertical and Leonardo builds on
Vertical’s unparalleled ecosystem of partners that already includes
Honeywell, Rolls-Royce, Microsoft, GKN and Solvay
Vertical Aerospace (“Vertical”) (NYSE:EVTL), a leading aerospace
and technology company that is pioneering zero-emissions aviation,
today announced that it has agreed a joint development program with
Leonardo for the design, testing, manufacture and supply of the
carbon composite fuselage for Vertical’s VX4 electric aircraft.
Vertical and Leonardo will work together on optimising
lightweight composite structures, modular design, systems
installation, and structural testing for the co-development of the
aircraft’s fuselage. This is currently in place for at least six
certification aircraft, up to the successful certification of the
VX4. The agreement has also stated the potential to scale fuselage
production to 2,000 aircraft a year to meet Vertical’s existing
market-leading order book demand. Vertical has what it believes is
the largest conditional pre-order book (by value) in the eVTOL
industry, of up to 1,350 aircraft worth $5.4 billion from American
Airlines, Avolon, Bristow and Iberojet, including pre-order options
from Virgin Atlantic and Marubeni, and through Avolon’s placements,
airlines JAL and Gol.
Leonardo has long-established expertise in composite
aerostructures development and manufacturing on civil and defense
programs. The aerospace firm also has a close relationship with
Vertical’s strategic composite materials supplier, Solvay. Vertical
and Solvay are jointly developing advanced materials and
manufacturing technologies that will enable high volume manufacture
of the VX4.
Vertical’s partnership with Leonardo builds on its unparalleled
ecosystem of partners, including Rolls-Royce, Honeywell, Solvay,
GKN and Microsoft. Vertical continues to grow its team of
experienced engineers and aviation executives and expects to begin
the VX4’s test flight programme later in 2022.
Vertical’s VX4 is paving the way for advanced air mobility and
is expected to revolutionise the way we travel. The near silent,
entirely electric, piloted aircraft is expected to have a range of
over 100 miles and to reach top speeds of up to 200mph. With a
four-passenger capacity, the zero operating emissions VX4 will also
have a low cost per passenger mile, similar to that of a taxi.
Michael Cervenka, President of Vertical said: "Vertical
is pioneering electric aviation and is on a mission to transform
the way people travel. I have been hugely impressed by Leonardo’s
highly innovative and industry leading technical and manufacturing
capabilities and our partnership has got off to a flying start. I'm
thrilled that Leonardo will be joining us in this journey. We have
a market-leading pre-order book for our VX4, and this partnership
will ensure that we can scale the programme to meet demand."
Lucio Valerio Cioffi, Leonardo’s General Manager, said:
“Advanced air mobility is part of Leonardo’s mandate to innovate
using our cutting edge, human-centred technology and
industrialisation expertise. We’re proud to collaborate with
Vertical as part of our strategic vision in this brand new
sector.”
Giancarlo Schisano, Managing Director of Leonardo’s
Aerostructures Division said: “Leonardo, as partner to the
world’s leading commercial aircraft manufacturers, is specialised
in the production and assembly of major structural composite and
metallic components for commercial aircraft. Leonardo strives to
bring new technologies, materials and processes into our
established practices in our production sites. This will be the
case at our Grottaglie plant in Southern Italy, where we will focus
our VX4 activities; the plant is one of the most advanced
facilities in Europe to produce composite aerostructures.”
The continuous development and integration of cutting-edge
solutions across all domains, such as Advanced Air Mobility, is a
key element of Leonardo’s BeTomorrow2030 Strategic Plan.
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company
was founded in 2016 by Stephen Fitzpatrick, an established
entrepreneur best known as the founder of the Ovo Group, a leading
energy and technology group and Europe’s largest independent energy
retailer. Over the past five years, Vertical has focused on
building the most experienced and senior team in the eVTOL
industry, who have over 1,700 combined years of engineering
experience, and have certified and supported over 30 different
civil and military aircraft and propulsion systems. Vertical’s
top-tier partner ecosystem is expected to de-risk operational
execution and its pathway to certification allows for a lean cost
structure and enables production at scale. Vertical has a
market-leading pre-order book (by value) for a total of up to 1,350
aircraft from American Airlines, Avolon, Bristow and Iberojet,
which includes conditional pre-order options from Virgin Atlantic
and Marubeni, and in doing so, is creating multiple potential near
term and actionable routes to market.
Vertical’s ordinary shares listed on the NYSE in December 2021
under the ticker “EVTL”. Find out more: vertical-aerospace.com
About Leonardo
Leonardo, a global high-technology company, is among the top
world players in Aerospace, Defense and Security and Italy’s main
industrial company. Organized into five business divisions,
Leonardo has a significant industrial presence in Italy, the United
Kingdom, Poland and the USA, where it also operates through
subsidiaries that include Leonardo DRS (defense electronics), and
joint ventures and partnerships: ATR, MBDA, Telespazio, Thales
Alenia Space and Avio. Leonardo competes in the most important
international markets by leveraging its areas of technological and
product leadership (Helicopters, Aircraft, Aerostructures,
Electronics, Cyber Security and Space). Listed on the Milan Stock
Exchange (LDO), in 2020 Leonardo recorded consolidated revenues of
€13.4 billion and invested €1.6 billion in Research and
Development. The company has been part of the Dow Jones
Sustainability Indices (DJSI) since 2010 and has been confirmed
among the global sustainability leaders in 2021. Leonardo is also
included in the MIB ESG index.
About VX4 eVTOL Aircraft
The four passenger, one pilot VX4 is projected to have speeds up
to 200mph, a range over 100 miles, near silent when in flight, zero
operating emissions and low cost per passenger mile. The VX4 is
expected to open up advanced air mobility to a whole new range of
passengers and transform how we travel. Find out more:
vertical-aerospace.com
Vertical Media Kit Available here
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Any express or implied statements contained in this press
release that are not statements of historical fact may be deemed to
be forward-looking statements, including, without limitation,
statements regarding the certification and the commercialization of
the VX4, the differential strategy compared to its peer group, and
the transition towards a net-zero emissions economy, as well as
statements that include the words “expect,” “intend,” “plan,”
“believe,” “project,” “forecast,” “estimate,” “may,” “should,”
“anticipate,” “will,” “aim,” “potential,” “continue,” “are likely
to” and similar statements of a future or forward-looking nature.
Forward-looking statements are neither promises nor guarantees, but
involve known and unknown risks and uncertainties that could cause
actual results to differ materially from those projected,
including, without limitation, Vertical’s limited operating history
without manufactured non-prototype aircraft or completed eVTOL
aircraft customer order; Vertical’s history of losses and the
expectation to incur significant expenses and continuing losses for
the foreseeable future; the market for eVTOL aircraft being in a
relatively early stage; the potential inability of Vertical to
produce or launch aircraft in the volumes and on timelines
projected; the potential inability of Vertical to obtain the
necessary certifications on the timelines projected; the potential
that certain of Vertical’s strategic partnerships may not
materialize into long-term partnership arrangements; the impact of
COVID-19 on Vertical’s business; as a foreign private issuer and
intend to follow certain home country corporate governance rules,
Vertical not be subject to U.S. proxy rules and will be subject to
Exchange Act reporting obligations that, to some extent, are more
lenient and less frequent than those of a U.S. domestic public
company; and the other important factors discussed under the
caption “Risk Factors” in Vertical's prospectus pursuant to Rule
424(b) filed with the U.S. Securities and Exchange Commission
(“SEC”) on December 1, 2021, as such factors may be updated from
time to time in Vertical’s other filings with the SEC. Any
forward-looking statements contained in this press release speak
only as of the date hereof and accordingly undue reliance should
not be placed on such statements. Vertical disclaims any obligation
or undertaking to update or revise any forward-looking statements
contained in this press release, whether as a result of new
information, future events or otherwise, other than to the extent
required by applicable law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220208005207/en/
Vertical Media Samuel Emden
nepeanverticalteam@nepean.co.uk +44 7816 459 904
Vertical Investors Eduardo Royes
investors@vertical-aerospace.com +1 (646) 200-8871
Leonardo Media Hub – Aeronautics Stefano Somma
stefano.somma@leonardo.com +39 3357317483
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