Vertical Aerospace Bags $10M in Grant Funding from the UK Government to Transform the Future of Flight
Portfolio Pulse from Benzinga Newsdesk
Vertical Aerospace (NYSE:EVTL) has received a $10 million grant from the UK Government through the Aerospace Technology Institute (ATI) Programme for developing next-generation propellers for its VX4 aircraft. This marks the third project awarded to Vertical by the ATI Programme, totaling $47 million in UK Government grants, signifying strong governmental support for Vertical's vision in pioneering zero emissions aviation.
February 20, 2024 | 7:18 am
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Vertical Aerospace receives a $10 million grant from the UK Government for VX4 aircraft propeller development, highlighting strong support for its zero emissions aviation goals.
The grant signifies not only financial support but also a vote of confidence from the UK Government in Vertical Aerospace's technology and its potential to lead in zero emissions aviation. This could positively influence investor perception and potentially drive up the stock price in the short term due to the enhanced credibility and financial backing for its VX4 aircraft project.
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