INDUSTRY WATCH

QIA – the sovereign wealth fund of the State of Qatar – led the raise and several of BETA ’ s largest investors , including Fidelity Management & Research Company and TPG Rise Climate increased their ownership in BETA .

Longtime customer United Therapeutics has also joined this round as an investor . The financing round was priced at an increased valuation relative to prior equity capital raises and was meaningfully oversubscribed . To date , BETA has raised more than $ 1 billion in equity capital .

Over the past eight years , BETA has developed sustainable products that lower the cost of transporting goods and people safely and reliably .

This new funding will support the continued production , certification and commercialization of those solutions , which include BETA ’ s all-electric fixed-wing and eVTOL aircraft ALIA , advanced high performance electric propulsion systems , as well as its multimodal charging systems and growing infrastructure network .

Mohammed Al-Sowaidi , Chief Investment Officer for Americas , QIA , said : “ At QIA , we seek out companies that are well-positioned to become category leaders by addressing critical challenges with innovative solutions . “ BETA is a leader in the electric aviation market and our participation in this funding round is fully aligned with QIA ’ s efforts to invest in the companies that are making the energy transition a reality .”

BETA ’ s all-electric aircraft , which are optimized for payload and range , sit at the center of its vision to make air transportation more reliable , greener , and cheaper .

BETA is certifying two variants of its all-electric aircraft with the FAA : ( i ) the ALIA CTOL , which uses a runway to take off and land conventionally ; and ( ii ) the ALIA VTOL , which is runway independent as it takes off and lands vertically .

These aircraft share structural similarities and both leverage BETA ’ s high performance electric propulsion technologies and fly-by-wire flight control systems .

BETA plans to certify cargo and passenger configurations of both aircraft . This wide offering , which suits commercial and military customers , allows BETA to reach the largest addressable market .

“ This investment validates progress and milestones toward commercializing electric aviation ,” said Kyle Clark , BETA ’ s Founder and CEO .

“ For years , we ’ ve flown across the country and deployed with partners to prove the safety and reliability of our aircraft and chargers . Now , we ’ re beginning to produce products for our customers . This continued belief and trust in this team and our vision will be good for the investors and good for the world . We are grateful for their shared vision .”

In addition to aircraft , BETA has designed , certified and is manufacturing multimodal charging systems for its aircraft and industry peers ’, as well as ground EVs of all types .

BETA is the only producer of UL Certified grid-tied charging systems for aircraft , and their chargers have been adopted by multiple customers including several other aircraft manufacturers . BETA is selling charging systems as well as building a network of charging systems at airports across the United States .

www . intelligentcio . com INTELLIGENTCIO NORTH AMERICA 73