Rolls-Royce announced today that it has signed a Memorandum of Understanding with Mooney Airplane Company to discuss future RR500 TP-powered aircraft applications. The announcement came two days after the company officially launched the RR500 TP at EAA AirVenture 2008.

The RR500 TP engine is the fifth new civil engine program launched by Rolls-Royce in 24 months and features multi-fuel capability, an electronic engine monitoring system, extended time between overhauls and smoothness of operation.

Ken Roberts, Rolls-Royce President of the Helicopters business, said: "We are very pleased to be working with Mooney Airplane Company. Mooney is recognized for producing high performance, feature laden aircraft and we think the RR500 TP is ideally suited to the Mooney product range."

With its robust design and cutting-edge technology that builds upon 190 million hours of small engine flight experience, the 350 to 450 shp RR500 TP is ideally positioned to address the light, fixed-wing general aviation segment. According to the Rolls-Royce ten-year market forecast, 2500 to 3000 of these light aircraft will be delivered annually between 2010 and 2020.

The RR500 TP is a growth version of the RR300, which was launched in 2007 to power the Robinson Helicopter R66, scaled up to deliver increased airflow and power.