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Thu, Feb 29, 2024

Elixir Aircraft Raises Money to Secure 5-Year Nest Egg

€40 Million Will Establish New Factory, Expedited Production

French LSA-alike manufacturer Elixir Aircraft has snagged €40 million in additional financing over the next five years, bolstering their expansion plans.

The team is palpably hurried, with 200 aircraft orders awaiting fulfillment and only 19 completed aircraft. Elixir has had very impressive luck making the sales rounds all across western Europe, but they have to actually build the aircraft in order to keep selling them. The upstart company simply doesn't have the production throughput to pump out hundreds of aircraft at scale right now, requiring an expansion to its facilities in La Rochelle, France and a much larger employee family. 

That's exactly where the money is headed, too. Recruiting will account for a good chunk, and a new factory will account for the rest. The biggest chunk of funds comes from Innovacom and Bpifrance via their new Amorçage Industriel fund, to ensure its industrial development. The French have been pretty good about keeping funding in the family lately, particularly in the case of Elixir. If they can manage to make good on all 200+ preorders of their lightweight 2-seater, they could find themselves with an enviable position as the go-to light sport and GA trainer of all Europe. Their marketing has been quite smart, too, speaking much about the need for new pilots in the airline industry while emphasizing the "low carbon" aspect of the aircraft. It's a fun approach, since most Rotax 912-powered planes aren't really what comes to mind when thinking about "sustainability", but if it works, it works.

"After a decade of hard work, Elixir Aircraft has reached a turning point," said Arthur Léopold-Léger. "Design, certification and first deliveries have been achieved. Now it's time for mass production. The decarbonization of aviation can only be achieved by replacing the more than 230,000 older-generation single-engine piston aircraft. With this total financing of 40 million euros, Elixir Aircraft is giving itself the means to achieve its objectives: nearly 400 aircraft produced per year by 2030, thanks to several hundred employees. I see Elixir Aircraft getting stronger and more structured. In the last two months, we've delivered six aircraft - a record for our company! With this financing, we're going to continue our efforts and become one of the leaders in global general aviation!"

FMI: www.elixir-aircraft.com

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