Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Read the latest news about Beta Technologies.

Beta Technologies has raised $318 million in fresh capital through a Series C funding round to support efforts to bring its Alia electric aircraft to market. The Vermont-based company announced the closing of the round on October 31, confirming that it has now raised more than $1 billion in equity capital.
The latest raise was led by Qatar Investment Authority (QIA) and was backed by Fidelity Management &amp; Research Company and TPG Rise Climate, as well as medical group United Technologies, which holds purchase agreements for the Alia aircraft. According to Beta, the Series C round was priced at an increased valuation compared to earlier equity capital raises and was oversubscribed.
Beta is developing both VTOL and conventional takeoff and landing versions of the Alia, designated respectively as the <a href="https://www.ainonline.com/aviation-news/futureflight/2024-10-01/beta-unveils-design-five-passenger-electric-aircraft">Alia 250 and CX300 models</a>. The company said the new funds will be used for production, type certification and commercialization of the aircraft, electric propulsion systems and charging infrastructure.
The company is already generating revenues from sales of its grid-tied, universal charging cube systems for aircraft, which are also being used by other manufacturers, such as Archer Aviation. It has also drawn support from U.S. military contracts.
“At QIA, we seek out companies that are well-positioned to become category leaders by addressing critical challenges,” said Mohammed Al-Sowaidi, the sovereign wealth fund’s chief investment officer for the Americas. “Beta is a leader in the electric aviation market and our participation in this funding round is fully aligned with QIA’s efforts to invest in the companies that are making the energy transition a reality.”
<h2>Alia Production Ramps Up For Early Deliveries</h2>
In late 2023, Beta opened its 200,000-square-foot manufacturing facility, which it said will have capacity for an annual production rate of 300 aircraft. The company said it will start deliveries to early customers in the coming months, while it continues to work towards FAA type certification, gradually increasing production rates over the next 24 months.
In addition to United Therapeutics, which plans to use the aircraft for missions such as carrying human organs for transplant procedures, Beta holds several other deposit-backed commitments. These prospective operators include Air New Zealand, UPS, Blade Urban Air Mobility, Bristow, Helijet, leasing group LCI, and the U.S. Army and Air Force.
<img alt="Beta's Alia electric aircraft in flight testing" data-entity-type="file" data-entity-uuid="6838b726-2582-4791-a479-92defc2a674a" src="/sites/default/files/inline-images/BETA_Transition_PBG%20Lightning%20Bolt.jpg" width="2251" height="1501" loading="lazy">
Work has begun with these customers to establish programs for training both pilots and maintenance technicians for the Alia fleet. Beta is establishing an aftermarket support network.
“This investment validates progress and milestones toward commercializing electric aviation,” said Beta founder and CEO Kyle Clark. “For years, we’ve flown across the country and deployed with partners to prove the safety and reliability of our aircraft and chargers. Now we’re beginning to produce products for our customers.”
&nbsp;
&nbsp;

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

Beta Raises $318 Million in Funding as eVTOL Aircraft Production Starts

Qatar Investment Authority leads oversubscribed Series C funding round

With more than $1 billion raised to date, Beta Technologies is starting to produce early examples of its Alia electric aircraft, with deliveries set to begin.

Beta Raises $318 Million as eVTOL Aircraft Production Starts

2024 Corporate Aviation Leadership Summit

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

Vertical Aerospace is also facing a liquidity crunch as major shareholder demands funding Plan B

Lilium Scrambles For Funds as Nasdaq Delisting Looms

News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

News about bills, laws, regulations and other governmental decisions affecting aviation and aerospace. Topics include FAA re-authorizations, taxes on fuel and aviation activities, environmental legislation, ICAO decisions, governmental mediation of labor conflicts and World Trade Organization disputes and decisions.

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

Industry concerned over possible extension of air passenger duty to more business aircraft

In this article

Beta Technologies

More In Finance, Taxes, Insurance

Lilium Scrambles For Funds as Nasdaq Delisting Looms

Vertical Aerospace is also facing a liquidity crunch as major shareholder demands funding Plan B

UK Plans 50% Tax Hike For Business Jet Charter Passengers

Industry concerned over possible extension of air passenger duty to more business aircraft

Jet Out Launches CJ4 Co-lease Program, Cost Calculator

Streamlines leasing options for businesses and individuals

Portside Agrees To Buy Collins Flight Operations System

Deal is expected to close in the fourth quarter

Lilium Set To File For Insolvency Protection to Salvage eVTOL Aircraft

Move comes one week after the German parliament blocked a loan guarantee application

Global Jet Capital Marks 10 Years in Bizcraft Financing

GJC exceeded $4 billion in aircraft financing originations since 2014

MySky Extends Scheduling Software to Part 91 Operators

Software will be integrated with all aspects of the company's spend management platform

IADA Reports Increasing Preowned Business Aircraft Transactions

IADA chair cites "heightened activity over the past month"

AIN Products

SUBSCRIPTIONS

RESOURCES

ABOUT AIN