JetZero raises $100m as Z4 nears flight test

The financing arrives as the blended-wing aircraft programme moves from demonstration towards production, with the Jet1 demonstrator's first flight scheduled for the fourth quarter of 2027.

JetZero has closed a senior secured term loan facility of up to $100 million to support development of its Z4 all-wing airliner.

The Z4 is designed for the middle market, with capacity for around 250 passengers and a range of up to 5,000 nautical miles. Its blended-wing design is intended to cut fuel burn and emissions by up to 50 per cent relative to conventional tube-and-wing aircraft of the same capacity. Proceeds from the facility will go towards technology maturation, manufacturing of the Demonstrator Jet1 and the buildout of JetZero's manufacturing and test facilities in Greensboro, North Carolina, alongside growth and working capital for the company's US operations. The Z4 is expected to enter service in the early 2030s.

Tom O'Leary, JetZero CEO and co-founder, says: “This facility is targeted for pace. Through this facility, we will fund tooling and production facilities in North Carolina, advancing aerospace innovation and reindustrializing America.”

Craig Caukin, partner at Pinegrove, adds: “JetZero is moving from demonstration to production, and that transition is where capital structure matters most.”

The lender group includes Pinegrove Credit Partners, backed by Brookfield, and HRTG Partners, alongside Silicon Valley Bank, a division of First-Citizens Bank. JetZero continues to build Jet1, its full-scale demonstrator, with Scaled Composites, a Northrop Grumman company. The build was 40 per cent complete as of June 2026, with first flight scheduled for the fourth quarter of 2027. JetZero broke ground on Factory1, its Z4 production facility in North Carolina, in June 2026, and plans to hire more than 14,000 people in the state over the next decade.