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Goldman Sachs, Morgan Stanley To Lead Amazon-Backed Beta Technologies $300M GE Deal And IPO As Military-Trained Electric Aircraft Firm Expands
['Paula Tudoran']
News
Don't Miss:Why Beta Technologies Matters for Electric Aviation FutureVermont-based Beta designs, manufactures, and sells high-performance electric aircraft, advanced electric propulsion systems, charging systems, and components.
Electric aviation represents a small but developing corner of the transportation industry, Reuters reported.
“Electric aircraft fit into the same sustainability and clean-mobility narrative that has driven interest in electric cars, though aerospace faces far longer certification and commercialization timelines,” Liu told Reuters.
The collaboration with GE Aerospace is intended to advance hybrid electric propulsion systems that can meet the demands of both defense and commercial aviation, Beta said.
Beta Technologies did not disclose the size or terms of its offering.