21st Feb 2023 08:51
(Alliance News) - IP Group PLC on Tuesday said portfolio company AMSL Aero saw its all-electric aircraft take its maiden flight.
The Oxford, England-based intellectual property commercialisation company said that the aircraft, Vertiia, completed its tethered hover by remote control in the Central West region of New South Wales in Australia, according to Civil Aviation Safety Authority regulations.
IP added that this was the first ever flight by an Australian-designed and built eVTOL, which is a type of aircraft that takes off and lands like a helicopter, but flies like a plane.
Vertiia has zero carbon emissions and will carry four passengers and a pilot at a cruising speed of 300 kilometres per hour. AMSL Aero expects to commence deliveries of the Vertiia in 2026 to customers in the aeromedical, cargo, emergency, and regional air mobility sectors.
IP Group Australia has a 35% stake in AMSL Aero.
IP Group shares were down 1.6% at 63.00 pence each in London on Tuesday morning.
By Holly Beveridge; Alliance News reporter
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