Virginia Venture Partners, the equity investment program of Virginia Innovation Partnership Corporation (VIPC), today announced an investment in Electra.aero, Inc. (Electra). Manassas, Va.-based Electra is working to decarbonize aviation and advance air mobility with its hybrid-electric, ultra-short takeoff and landing (eSTOL) aircraft. Electra will use this investment to develop the aircraft ahead of its first flight, planned for later this year at the Manassas Regional Airport. Electra has also received funding from VIPC’s Commonwealth Commercialization Fund.

The majority of travel in the U.S. for distances less than about 800 miles is currently done by driving. A recent NASA-funded study found that passengers would choose to fly distances over 100 miles ahead of other modes of travel given the option to fly to and from convenient local airports. Electra’s eSTOL aircraft has the ability to take off and land in spaces no larger than a soccer field and gets people and cargo closer to their destination quickly, quietly, and affordably making it the ideal choice for middle-mile passenger mobility and cargo logistics.

“Electra is on a mission to decarbonize aviation and make regional air travel cleaner and more accessible to everyone,” says John Langford, CEO and Founder of Electra. “We are proud to be founded in Virginia, and we are thankful for VIPC’s Virginia Venture Partners investment to help us continue our growth here.”

Electra’s piloted eSTOL aircraft will transport up to nine passengers or 1,800 pounds of cargo for up to 500 miles in all weather conditions. The plane's ability to take off and land in small spaces, with in-flight battery recharging, enables flight operations from places previously inaccessible by flight including converted parking lots, barges, and very short landing strips. Compared to vertical takeoff alternatives, the aircraft can deliver over twice the payload for ten times longer distance, and at much lower operating costs.

“Electra provides high-speed regional air travel that can cut travel time significantly by avoiding busy travel hubs and bringing passengers and cargo closer to their destination,” says Marco Rubin, Senior Investment Director of Virginia Venture Partners. “With deep expertise in electric flight and sustainable aircraft design, the Electra team is well on their way to changing the aviation industry, and we are excited to contribute to this growth.”

VIPC’s investment in Electra draws upon funds made available through the U.S. Treasury Department State Small Business Credit Initiative (SSBCI) Program.