Electric planemaker Beta Technologies raises over $300 mln in new funding

Electric aerospace company Beta Technologies said on Thursday it had raised more than $300m in equity capital to support the continued production of its all-electric fixed-wing and eVTOL aircraft that can takeoff and land vertically. The investment was led by Qatar Investment Authority (QIA), Qatar's sovereign wealth fund, and saw the participation of other investors including Fidelity and TPG. Beta's longtime customer United Therapeutics also joined as an investor. The funding could accelerate Beta's progress in the air transport industry as it works to lower carbon emissions. In an effort to reduce its climate impact, the global aviation industry is focusing on the advancement of sustainable aviation fuel and next-generation aircraft powered by electric, hybrid and hydrogen propulsion technologies. Last year, Beta said it was pursuing FAA certification of the CX 300 – a conventional takeoff and landing version of its Alia 250 eVTOL aircraft.<br/>