Vertical Aerospace (EVTL) has released an update.
Vertical Aerospace has disclosed its Q1 2024 financial results, highlighting a net operating loss reduction, the nearing completion of its advanced VX4 aircraft prototype, and strategic leadership changes to steer the company towards certification and commercialization. The aerospace innovator has also obtained significant UK government grants and investment from its founder, alongside a mutually beneficial settlement with Rolls-Royce to exit an Electric Propulsion Unit contract, ensuring no impact on prototype development or certification timelines. Investors can look forward to a Capital Markets Event later in the year and a fundraising initiative to support ongoing operations.
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