Beta Technologies earlier this week filed for an initial public offering in the United States. Beta recently reported that it is partnering with GE Aerospace to co-develop a hybrid electric turbogenerator for defence and civil applications, with GE Aerospace will making a USD300 million equity investment in the company.
Apart from GE, major shareholders include TPG, Amazon and CEO Kyle Clark.
Morgan Stanley and Goldman Sachs are leading the IPO, and Beta plans to list on the NYSE under the symbol BETA.
According to the company’s website:
“BETA has led the AAM industry in electric flight distance and hours flown generating valuable real-world data. BETA’s aircraft are engineered for all-weather performance and have been tested to operate reliably in a wide range of environmental conditions across the U.S. and Europe. ALIA’s electric propulsion and battery systems — which are developed in-house — offers reliable, high- tempo performance, as well as a quieter sound profile than conventional aircraft. Together, GE Aerospace and BETA will collaborate to develop an additional offering to enable the AAM industry.”
For more information
https://www.techinasia.com/news/electric-aircraft-maker-beta-technologies-files-ipo
(Image: BETA Technologies)