Alia VTOL on the production line. Source (All images) | Beta Technologies

Beta Technologies Inc.. (Burlington, Vermont, USA) raised $318 million in Series C equity. Qia led the raise and several of Beta’s largest investors, including Fidelity Management & Research Co. and TPG Rise Climate, increased their stake in Beta. Long-time client United Therapeutics also joined this round as an investor. The funding round was priced at a higher valuation compared to previous equity raises and was significantly oversubscribed. To date, Beta has raised over $1 billion in equity capital.

Over the past 8 years, Beta has developed sustainable products to reduce the costs of transporting goods and people safely and reliably. This new funding will support the continued production, certification and commercialization of these solutions, which include Beta’s fully electric fixed-wing and electric vertical take-off and landing (eVTOL) aircraft, Aliahigh-performance electric propulsion systems, as well as its growing multi-modal charging systems and infrastructure network. “This investment validates the progress and steps toward commercializing electric aviation,” said Kyle Clark, founder and CEO of Beta.

Beta’s fully electric aircraft, optimized for payload and range, are at the center of its vision to make air transport more reliable, greener and cheaper. Beta certifies two variants with the Federal Aviation Administration (FAA): the Alia CTOL (which uses a runway for conventional takeoff and landing) and the Alia VTOL (which is runway independent because it takes off and lands vertically). These aircraft share structural similarities and both leverage Beta’s electric propulsion technologies and fly-by-wire flight control systems. The company plans to certify the cargo and passenger configurations of both aircraft, which is suitable for commercial and military customers.

In addition to aircraft, Beta has designed, certified and manufactures multi-modal charging systems for aviation and industrial peers, as well as land-based electric vehicles (EVs) of all types. Beta’s UL-certified aircraft grid-tied charging systems are being adopted by several customers, including several other aircraft manufacturers, and the company sells charging systems and builds a network of charging systems at airports across the United States . To date, Beta has completed installation of its infrastructure in the eastern and southern United States, and plans to connect the network across the United States and expand globally in the coming years .

Beta airplane flight transition.

In late 2023, Beta opened a nearly 200,000 square foot manufacturing facility, where the team is currently producing aircraft for delivery to customers. The facility has the capacity to produce up to 300 aircraft per year, and activity will continue to increase over time. the next 18 to 24 months — and loading cubes for network deployment. Upon exiting production, these aircraft will begin fulfilling Beta’s deposit guarantee contracts with global operators including Air New Zealand, UPS, United Therapeutics, Blade Urban Air Mobility, Bristow, Helijet, LCI, the US Air Force and the US Army. .

Beta notes that it has been flying its aircraft and charging on its own infrastructure for more than four years, operating in America’s busiest airspace, crossing international borders and completing its deployments. with the US Department of Defense. The company has demonstrated reliability, reduced costs compared to fuel-powered aircraft, and achieved milestones such as crew transition of an eVTOL intended for production.

The company’s approach to commercialization includes ownership and control of key technologies for electric aviation, such as electric motor, inverter, battery packs, high-voltage distribution and flight controllers critical to safety, as well as partnering with the best and oldest aerospace suppliers. on other components where it has proven to be strategic. This approach has optimized production times, clarified certification pathways and diversified sources of revenue within Beta’s activities.

As it strengthens its production and certification efforts, Beta says it will continue to work closely with its customers to ensure the implementation of a robust pilot and maintenance training program, as well as after-sales support systems.