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Sat, Nov 05, 2022

VoltAero secures funding in first Series B round

Up & Comer Sees Investment from Italian Investor TESI 

VoltAero has strengthened its relationship with Italian investor and strategic partner Tecnologie E Servizi Innovativi S.r.l. (TESI) after the firm bought into their most recent funding round.

The €32 million is hoped to cover certification and production of the first member of the VoltAero electric-hybrid family of aircraft, the Cassio 330. TESI's involvement as investor helps to strengthen ties between the two, positioning the Cassio 330 for production after the EASA certification process began in October 2021. TESI will produce the airframe for the first Cassio 330 prototype at its Cicerale, Italy facility, building the 5-seat, 330-kw aircraft as the program ramps up to its maiden flight in 2023.

“TESI’s decision to become both a strategic investor and an industrial partner is a clear sign of VoltAero’s technology and business model credibility as we take this important step closer to reality for the Cassio airplane family with the Series B funding round,” said Jean Botti, VoltAero’s CEO & Chief Technology Officer, who is participating in this week’s Abu Dhabi Air Expo in the United Arab Emirates.

“We have been impressed by VoltAero’s highly intelligent approach with Cassio, applying its dual-source electric-hybrid propulsion concept for regional aviation that will be both sustainable and operationally safe,” stated Luigi Punzo, CEO of TESI. He heaped praise on the hybrid powered design not too different from a roadgoing gas/electric auto. The Cassio will rely on electric power for high-performance phases of flight with an internal combustion engine used to recharge its on board batteries in flight during cruise.

“We have been impressed by VoltAero’s highly intelligent approach with Cassio, applying its dual-source electric-hybrid propulsion concept for regional aviation that will be both sustainable and operationally safe,” stated Luigi Punzo the CEO of TESI.

FMI: www.voltaero.aero, www.aeronet.it

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