VERTICAL AEROSPACE secured $50m in new funding from MUDRICK CAPITAL as part of $180m transaction, including conversion of $130m of debt into equity, to strengthen its financial position and advance Flightpath 2030 Strategy.
MAGNIX completed testing of its magni650 electric propulsion unit (EPU) at NASA’s Electric Aircraft Testbed (NEAT) in Sandusky, OH; it successfully performed at an altitude of 30,000 ft at maximum continuous power of 700 kilowatts (kw).
