RCS - IP Group PLC - AMSL Aero completes first free flight

IPAnnouncement

18/11/2024 07:00

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RNS Number : 5873M  IP Group PLC  18 November 2024

 FOR RELEASE ON  18 November 2024

 

 

IP Group plc - Australian portfolio company AMSL Aero completes first free
flight of its 'Vertiia' aircraft

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in
breakthrough science and innovation companies with the potential to create a
better future for all, is pleased to note that Australian portfolio company
AMSL Aero has announced that it has completed the first free flight of
Vertiia, Australia's first passenger-capable, emission-free, long range
electric vertical take-off and landing aircraft (eVTOL) aircraft.

The landmark flight is the first by an Australian-designed and built eVTOL,
the new generation of aircraft that take off and land like a helicopter but
fly fast and smoothly like a fixed-wing aeroplane. Since the first untethered
flight, which took place earlier this month, the aircraft has since taken off,
flown and landed successfully more than 50 times.

 

Vertiia is the most complex civil aircraft ever developed in Australia. It has
been designed to fly up to 1,000km on hydrogen at a cruising speed of
300km/hour with zero carbon emissions, carrying up to four passengers and a
pilot.

 

The historic test flight was performed on battery power by remote control in
the Central West region of New South Wales in accordance with Civil Aviation
Safety Authority (CASA) regulations. AMSL Aero will begin hydrogen-fuelled
flight testing of Vertiia in 2025 having already broken records in 2023 by
completing the first tethered battery-powered hover.

 

This year, AMSL Aero received deposits for 26 Vertiia aircraft orders from
civil customers including 20 from Aviation Logistics, which operates the Air
Link, AirMed and Chartair brands covering passenger services, aircraft
charter, air freight and aeromedical flights across Australia.

 

IP Group Australia has an undiluted holding of 34.0% in AMSL Aero while IP
Group's managed private funds* hold an additional 14.7%.

 

*Includes funds managed/advised on behalf of Hostplus & TelstraSuper

 

For more information, please contact:

 

 IP Group plc                       www.ipgroupplc.com
 Liz Vaughan-Adams, Communications  +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Alex Donaldson                     +44 (0) 7516 729702

 

Notes for editors

 

About IP Group

 

IP Group accelerates the impact of science for a better
future. As the most active UK based, early stage science investor, we
develop and support some of the world's most exciting businesses in
deeptech, life sciences and cleantech (led by Kiko Ventures). Through
Parkwalk, the UK's largest growth EIS fund manager, we also back
world-changing innovation emerging in leading universities and research
institutions. Our specialist investment team combines sector expertise with
an international approach. Together we have a strong track record of success,
having backed high-profile companies including Oxford Nanopore Technologies
plc, First Light Fusion, Hysata, and Oxa. IP Group is listed on the Main
Market of the London Stock Exchange under the code IPO. For more information,
please visit our website at www.ipgroupplc.com (http://www.ipgroupplc.com/) .

 

 

About AMSL Aero

AMSL Aero is an Australian sustainable aviation development company founded in
2017 by Andrew Moore (Co-Founder and Chief Engineering Officer), an
aeronautical engineer with 20+ years' experience in the aircraft industry, and
Siobhan Lyndon (Co-Founder and COO), who has 20+ years' experience in the
technology, telecommunications, and professional services sectors. AMSL Aero's
CEO Max York is a 20+ year aviation executive and former CEO of GE Australia.
The company's headquarters are in Bankstown, New South Wales, with flight test
facilities in regional New South Wales. The name "AMSL Aero" is derived from
the initials of the founders, Andrew Moore ('AM') and Siobhan Lyndon ('SL').
AMSL also refers in aviation speak to 'Above Mean Sea Level'. The team at AMSL
Aero includes highly experienced aerospace, electrical, avionics, and
mechanical engineers, all of whom have contributed to this amazing new
aircraft. AMSL Aero is backed by private investors including IP Group
Australia, Telstra Super, Host Plus and St Baker Energy Innovation Fund, and
the Australian Government. Further information about AMSL Aero -
www.amslaero.com

 

AMSL Aero Vertiia Fact Sheet

●   Vertiia is a highly efficient long-range zero-emissions VTOL (Vertical
Take Off and Landing) aircraft due to its unique combination of aerodynamic
efficiency and structural design

●   Vertiia takes off and lands vertically like a helicopter, and flies
fast and efficiently like a fixed wing aeroplane. It is safer, quieter, and
more efficient than a helicopter

●   Vertiia has the potential to operate with zero carbon emissions by
using green hydrogen

●   The initial civil aircraft will be certified for piloted flight, with
autonomy systems installed for future remote piloted applications

●   Vertiia will have a cost to operate in the longer term comparable with
short-range (domestic) airliners but has the advantage of taking passengers
from door to door due to not requiring a runway

●   Vertiia's light air ambulance setup will seat a pilot, a paramedic
and/or doctor and patient, or it can be configured to carry passengers (1
pilot + 4pax) or freight

●   Vertiia will cruise at 300km/hour and its range will be up to 1,000km
on hydrogen power

●   AMSL Aero holds international patents for Vertiia, protecting its core
technological features, including its unique wing tilting mechanism, combined
with its box wing design and flight control system

●   Vertiia is an eight electric motor tilting wing aircraft that can
operate from a helipad or similar size landing site

●   Vertiia has the capability to connect regional hubs within New Zealand
and Australia and, due to the small number of seats, it can conduct on-demand
(unscheduled) services to reduce excess capacity (empty seats)

 

ENDS

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