London, 16 September 2021 – UK aerospace start-up AERALIS LTD and a Middle Eastern sovereign wealth fund signed an investment agreement at London’s DSEI show as part of developing AERALIS’s innovative modular aircraft system for transforming the defence light jet market.
The sovereign wealth fund has invested an initial amount of £10.5M in the revolutionary British aerospace firm, which will support the design, development and first flight of the Advanced Jet Trainer, AERALIS’s first platform.
The unnamed wealth fund has committed to investing in the next generation of cutting-edge, market-disrupting solutions and the flexible, affordable and connected aircraft systems designed by AERALIS will serve the fast-evolving requirements across the future of flying training and light combat air.
AERALIS continues to be in discussion with the UK Ministry of Defence and leaders from across the defence industry to explore further options for supporting this ground-breaking technology. AERALIS are already engaged in a range of industrial partnerships including with the MOD RAF Rapid Capabilities Office, Rolls-Royce, Thales UK, Atkins and Siemens.
AERALIS’s founder & CEO Tristan Crawford commented:
“This is a transformational moment for AERALIS. We are delighted to have announced our partnership as we work together to revolutionise the defence aviation sector with an aircraft system that will deliver substantial through-life cost savings, all designed, developed and ultimately built here in the UK with our extensive local eco-system.”