Climate Tech Fund Statkraft Ventures Invests in Electra to Accelerate Sustainable Aviation
Summary
MANASSAS, Va., July 26, 2023 /PRNewswire/ -- Statkraft Ventures, one of the leading VC funds in energy transition and climate tech, today announced its investment in electric aviation company Electra.aero, Inc. (Electra). The investment will enable Electra to further develop its hybrid-electric ultra-short takeoff and landing (eSTOL) aircraft, reinforcing Statkraft Ventures commitment to advancing sustainable transportation and decarbonization efforts by investing in emerging technologies that reduce emissions.Electras eSTOL aircraft is designed for quiet, efficient, and affordable flight operations from runways as short as 150 feet, bringing air travel closer to local communities and connecting previously underserved regions. "Their visionary approach and groundbreaking technology to electrify aircraft, reducing operating costs and emissions at the same time, align perfectly with Statkraft Ventures mission to support innovative startups that drive the transition to a low-carbon economy. "This investment leverages Statkraft Ventures expertise in sustainable energy transition to accelerate the development and commercialization of Electras nine-passenger production eSTOL aircraft. We are honored to have Statkraft Ventures on our team and look forward to learning from their insight and experience," said John S. Langford, Electras founder and Chief Executive Officer.About ElectraElectra.aero, Inc. is a next-gen aerospace company leading the way in sustainable urban and regional mobility.