Vertical Aerospace has launched a review of strategic alternatives as it looks to secure support for the next phase of growth for its eVTOL programme in Bristol. The British electric aviation developer has hired Jefferies as financial adviser, while operations, certification work and commercial commitments will continue during the process.
The review is centred on potential strategic and financial partnerships as Vertical moves from development towards certification, industrialisation and commercialisation. Chief executive Stuart Simpson said the timing is appropriate as the company’s focus shifts to executing that transition.
Vertical has not set a timetable for the review and gave no assurance it will lead to a transaction or strategic change. The company recently secured about $100 million in new financing and earlier in the year completed a broader financing package of up to $850 million to support flight testing, certification and initial production.