JetZero has closed a senior secured term-loan facility of up to $100 million to advance development of its Z4 blended-wing-body aircraft, with funding tied to programme milestones rather than released as a single tranche. The package supports the Jet1 full-scale demonstrator, manufacturing preparation and the buildout of the company’s Greensboro, North Carolina campus, where the Z4 is planned to be produced.
The financing was led by Pinegrove Credit Partners and Silicon Valley Bank, with support from Brookfield and HRTG Partners. JetZero is targeting a 250-seat aircraft with a range of about 5,000 nautical miles, and claims the design could cut fuel burn by up to 50% compared with conventional tube-and-wing jets of similar size.
The first full-scale Jet1 demonstrator is being assembled by Scaled Composites in Mojave, California, with first flight targeted for the fourth quarter of 2027. JetZero broke ground on its Greensboro production site in June, advancing plans for a larger manufacturing base as it moves the programme from development towards industrialisation.