- Stuart Simpson, Vertical Aerospace’s CFO and seasoned FTSE100 executive,
appointed to CEO as company moves to pivotal phase of certifying its VX4 aircraft and
commercialisation. - Founder and current CEO, Stephen Fitzpatrick, continues his role as Board member,
focused on business strategy and delivering on the company’s vision. - Ben Story, who brings 30 years of fundraising, business strategy and leadership
experience from roles at Rolls-Royce, Citi and Transport for London, appointed to
Vertical’s Board.
Vertical Aerospace Ltd. (“Vertical” or the “Company”) (NYSE: EVTL; EVTLW), a global aerospace and technology company that is pioneering zero emission aviation, has made several leadership appointments as the company moves towards a pivotal phase of certifying its VX4 aircraft and commercialisation.
Stuart Simpson, Vertical’s CFO and seasoned FTSE100 executive with a career which spans 30 years and includes leadership roles across the technology, automotive and logistics sectors, has been appointed to CEO, effective immediately. He will be responsible for leading the execution of the company’s strategy as it progresses towards certification of the VX4 aircraft, bringing it to market, and launching further fundraising activity.
Founder and current CEO, Stephen Fitzpatrick, who recently committed additional capital to the company, will continue to play a prominent role in Vertical as a Board member, focused on business strategy and working with the executive team to deliver on the company’s vision.
Stuart joined Vertical Aerospace in 2023 from Avast, a FTSE100 global leader in digital security and privacy, where he was Group CFO and a member of the leadership team that was responsible for the company’s $9 billion merger with NortonLifeLock in 2021.
Prior to that, Stuart held the roles of Interim Chief Executive Officer, Chief Financial Officer and Chief Operating Officer at Royal Mail Group, overseeing the Group’s return to the FTSE100 during his tenure. Concurrently, he was a Board member at GLS Group, a global, technology led, parcel service provider.
Stuart also has extensive automotive industry experience in the UK and internationally, having held several Director roles at General Motors globally and senior positions at Rolls Royce and Bentley Motor Car Company. The process for appointing a new CFO is underway, with Stuart continuing to oversee the company’s financial function in the interim.
In addition, Vertical has strengthened its Board with the appointment of Ben Story, a former Director and Executive Team member at Rolls-Royce, Board member at Transport for London and Managing Director at Citi. Ben brings 30 years of experience at the highest level of industrial technology, energy, transportation, and global finance and will bring invaluable experience to the company along its path to commercialisation.
Stephen Fitzpatrick, Founder and Board Member, Vertical Aerospace, said:
“I am immensely proud of all that the team has achieved over the past four years as Vertical leads the world into a new era of electric flight and becomes a British engineering success story. Vertical is now ready to move into an incredibly important phase of development as we begin testing our more advanced, piloted, full-scale prototype, progress towards certification and are preparing for industrialisation.
Stuart’s extensive leadership experience in high growth technology based companies make him incredibly well qualified to lead the company into this next phase and I know he shares my passion to bring the benefits of electric aviation to the world. I look forward to seeing what Vertical is going to achieve under his leadership.”
Stuart Simpson, CEO, Vertical Aerospace, said:
“It’s been phenomenal to experience the progress the business has made since I joined, and I could not be more excited to move into this role. I share Stephen’s confidence that our experienced team, technology, and compelling business model of working with leading industry partners position us very well to successfully develop one of the most advanced electric aircraft in the world.
I look forward to working with our formidable team in progressing our path to certification, bringing in additional investment and taking the VX4 to market.”
The changes come as the final assembly of the new generation full-scale VX4 prototype nears completion, with the aircraft on track to begin a robust test flight programme ahead of intended public demonstrations at Farnborough International Airshow and Heathrow Airport later in 2024. This prototype features next generation propellers, will use Vertical’s proprietary battery technology for the first time, and incorporates much more of the company’s leading aerospace partners’ technology. ”
Mike Flewitt, Chairman of Vertical, said:
“Vertical is moving into a really exciting phase of its corporate evolution, and Stuart and Ben are both fantastic appointments to take the business through it. Both have significant strategic and fundraising experience and in their new roles, they will strengthen what is already a very strong team with decades of experience in certifying and bringing new aircraft to market. I look forward to working alongside both and Stephen as we create a new chapter in travel.”
Ben Story, Board Member of Vertical, said
“I’ve been following the exciting progress Vertical has been making in this nascent sector, and the talented team has achieved so much in a relatively short amount of time. I look forward to playing my part in taking the business into this next exciting phase and bringing the VX4 to market.”
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Drone technology could transform our skies and boost the UK economy by £45 billion by the end of the decade.
From: Department for Transport and Anthony Browne MP
- flying taxis and routine emergency service drones should be a reality by 2028
- new action plan will make sure regulation and infrastructure is in place to support exciting greener, quieter aviation technologies
- comes as Aviation and Technology Minister visits pioneering UK company Vertical Aerospace in Bristol to see technology first-hand
Flying taxis, crime-fighting drones and critical 999 care deliveries could all be a reality by 2030 thanks to the government and industry’s joint Future of Flight action plan, announced by the Department for Transport (DfT) today (18 March 2024).
Setting out a roadmap for drones and novel electric aircraft in the UK, the plan details how technology once confined to the realm of sci-fi could transform our skies, with studies estimating drone technology could boost the UK economy by £45 billion by the end of the decade.
It details plans for the first piloted flying taxi flight by 2026 and regular services by 2028, regular drone deliveries across our skies by 2027 and demos of autonomous flying taxis without pilots on board by 2030 – transforming how people and goods are transported.
Aviation and Technology Minister, Anthony Browne, said:
Cutting-edge battery technology will revolutionise transport as we know it – this plan will make sure we have the infrastructure and regulation in place to make it a reality.
From flying taxis to emergency service drones, we’re making sure the UK is at the forefront of this dramatic shift in transportation – improving people’s lives and boosting the economy.
The plan was unveiled on the same day the minister is due to visit Vertical Aerospace in Bristol – one of the UK companies making flying taxis and at the cutting edge of innovation in aviation.
These greener, quieter flying taxis are already undergoing the Civil Aviation Authority (CAA) authorisation process and have been made possible thanks to rapid advances in battery technology, meaning they are light enough to stay in the air and powerful enough to cover the distances needed.
Some of the other actions set out in the plan include:
- allowing drones to fly beyond visual line of sight (BVLOS) so that the sector can grow without limiting the skies for other aircraft
- breathing life into smaller aerodromes by setting out how they can operate as vertiports for electric aircraft that take off vertically (sometimes known as electric vertical take-off and landing (eVTOL) aircraft)
- developing standards to improve security for drones to boost public safety
- engaging communities and local authorities so that they can enjoy the economic and social benefits of these technologies
First imagined in the Flightpath to the Future in 2022, this joint plan between industry and government sets out the strategic direction of the sector over the next 5 years, striking a balance between innovation, security, safety and cutting emissions.
The benefits of this new technology are already being seen in the UK. West Midlands Police uses drones to tackle violent crime and antisocial behaviour. In July 2023, a drone team was deployed, successfully identifying 2 offenders and another suspect at a speed and distance that would have taken ground officers hours to track down.
Drones are also helping frontline NHS staff save lives. For 6 months between October 2022 and March 2023, the UK drone service provider Skyfarer partnered with University Hospitals Coventry and Warwickshire NHS Trust and Medical Logistics UK to test drones to deliver surgical implants and pathology samples between sites. In one case, drones reliably helped cut delivery times of surgical implants between Coventry and Rugby hospitals from up to an hour to just 18 minutes – a 70% decrease.
The Future of Flight action plan contains measures to make drone applications and assessments easier by creating new and simple digital platforms that operators can use – ensuring companies and public services are no longer shackled by red tape and get drones up and flying quicker.
It will also enable the development of vertiports – mini-airports for drones and electric aircraft that take off vertically – by developing certification standards and reviewing the use of existing infrastructure to deliver at speed, boost safety and security and put the passenger first.
Industry partners will also undertake multiple industry-leading trials to explore new ways to operate drones beyond the visual line of sight and demonstrate electric aircraft – keeping accidents to a minimum and making the most of technological advances. This could include finding and repairing faults quicker on our railways with fewer delays and cancellations for train passengers, providing new connections across the UK and using technology to help our emergency services.
The Future of Flight action plan comes ahead of the fifth meeting of the Future of Flight Industry Group, a joint force established in February 2023 for government and industry leaders to tackle the biggest challenges facing the sector and set ambitious goals as emerging aviation technologies become more commonplace.
Duncan Walker, Chief Executive of Skyports and Chairman of the Future of Flight Industry Group, said:
The UK is home to one of the world’s most important aerospace industries and is in an ideal position to be a pioneer in the next era of aviation. The government and industry have a joint commitment to support the development, industrialisation and introduction of new aviation technologies. Continued collaboration will ensure that we capitalise on the significant domestic and international market opportunities presented by the future of flight.
By supporting research and development in electric aircraft and drones, and with the help of key partners like the CAA, the action plan aims to usher in a new era of eco-friendly aviation and boost the economy with new investments, ensuring the UK captures the full potential of this emerging global industry as a force for good and a driver of growth.
Sophie O’Sullivan, Head of Future Safety and Innovation at the UK Civil Aviation Authority, said:
Aviation stands on the cusp of its next, potentially biggest, revolution since the invention of the jet engine. Drones, eVTOL and other different vehicles have the potential to change transportation options forever.
We welcome the firm direction the government’s Future of Flight action plan provides for the industry as it continues to innovate. Our role in this bright future of aviation will be enabling technological advances and providing regulatory support while ensuring that all forms of new aviation technology enjoy the same high safety standards as traditional aviation.
Anne-Lise Scaillierez, CEO of UK drone trade association ARPAS-UK, said:
Drones help professional teams capture data from the sky in a safer, cheaper, smarter and greener way and, in the future, they will help transport cargo and people. ARPAS-UK and the industry are looking forward to actively and collectively implementing the actions in the plan so that we can accelerate the safe use of drones by end-user industries. We thank the DfT, CAA and all involved parties for making it happen.
Not only is the Future of Flight action plan a testament to the government’s commitment to advancing aviation technologies, but it gives industry the confidence to continue breaking barriers in the sector. Vertical Aerospace, whose pioneering innovation in electric vertical take-off aircraft is creating a cleaner, quieter way to travel, is just one of several UK-based manufacturers that will benefit from the plan.
Stephen Fitzpatrick, Founder and CEO, Vertical Aerospace, said:
]]>The UK has a long heritage in aerospace and the publication of this plan sets out how we will lead the next revolution of flight. With government and business working together, we can unleash the huge economic, environmental, and social benefits of zero emissions flight globally. Vertical is hugely proud to be at the forefront of leading this new chapter.
UK Civil Aviation Authority (CAA) issues its first eVTOL Design Organisation Approval to Vertical
Aerospace (Vertical), underlining regulatory confidence
- Vertical submits its certification basis proposal to the CAA for its VX4 aircraft, with technical
familiarisations to follow shortly - Japan Civil Aviation Bureau (JCAB) announces acceptance of VX4 validation programme; success will
allow the aircraft to be operated in Japan - Vertical has now formally commenced its certification journey with four aviation regulators in the UK,
Europe, USA and Japan
London, UK; New York, USA – March 2023 Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces further progress on its path to certification for the VX4, including securing the first ever Design Organisation Approval (DOA) issued to an eVTOL manufacturer by the UK Civil Aviation Authority.
Design Organisation Approval
UK and European aerospace companies cannot hold a Type Certificate without being granted a DOA. The
DOA authorises Vertical to conduct design activities and issue design approvals within the DOA’s scope
of approval. As an approved Design Organisation, Vertical will have increasing authority and privileges as
we progress through the design and certification programme of the VX4. This approval means the CAA is
satisfied that Vertical can design a safe and reliable aircraft and aviation-related products to the highest standards. This is expected to streamline the steps towards obtaining Type Certification.
The process for achieving DOA involved a rigorous assessment of Vertical’s procedures, its quality management system, the competence of its technical workforce, and the necessary facilities and equipment to support the design activities to certify the VX4 aircraft.
Certification progress
Earlier this month, the CAA announced its intention to adopt European Union Aviation Safety Agency’s
(EASA) Means of Compliance to SC-VTOL, the standards against which European and now UK manufacturers will design eVTOLs. Vertical continues working closely with the CAA on the Type
Certification of its VX4 aircraft, having recently submitted its certification basis proposal to the regulator.
Taken together, this progress provides essential regulatory clarity to Vertical on the requirements for the
development of its VX4 aircraft and further discussions will continue with the CAA in coming months,
including robust technical familiarisations. This positions the UK, alongside Europe, as a market with a clear regulatory framework for the design and manufacture of these novel electric aircraft.
Japanese validation
Vertical has also formally commenced its certification efforts in Japan, following the Japan Civil Aviation
Bureau’s (JCAB) acceptance of the VX4’s validation programme. Successful validation of the VX4’s Type
Certificate will allow the aircraft to be operated in this key market. Vertical is well-positioned in Japan, having partnered with Japan Airlines (JAL), through the placement of up to 100 VX4 pre-orders with Avolon, as well as with Marubeni Corporation for up to 200 VX4 pre-orders. In January 2023, Marubeni made a pre-delivery payment to Vertical for the reservation of its first 25 VX4 aircraft delivery slots out of the 200 VX4 conditional pre-orders. In March 2023, it was announced that Marubeni would be one of the operators of the Advanced Air Mobility showcase for the 2025 Osaka World Expo to fly with Vertical’s VX4.
JCAB formally becomes the fourth aviation regulator Vertical is working closely with, including the CAA on
Type Certification and concurrent validation with EASA and the US Federal Aviation Administration (FAA).
Vertical is also in discussions with the National Civil Aviation Agency of Brazil on the VX4’s future validation programme. The establishment of this broad coalition of regulators will enable Vertical to deliver the VX4 into service internationally, with its airline, helicopter operator, aircraft lessor, business aviation and tourism group customers.
Stephen Fitzpatrick, Vertical’s Founder and CEO, said “I am immensely proud that Vertical is the first British
electric aircraft company in history to receive a DOA from the UK aviation regulator. This approval is a critical step forward in our mission to decarbonise air travel and bring the UK’s first electric aircraft to market.
We are grateful for the CAA’s commitment to advancing sustainable aviation, which allows us to build on
the UK’s proud aerospace tradition.”
Paul Harper, Vertical’s Head of Certification, said “Receiving a DOA from the CAA is a huge testament
to our team and the hard work we are doing to ensure safety is at the core of the VX4. It represents a
significant milestone on our journey to Type Certification and we would like to thank the CAA for their
guidance and continued support. I believe that in formally working with JCAB, as the fourth aviation regulator Vertical is committed to certifying with, we are on track for establishing the most detailed understanding of global regulators’ needs and differences for eVTOLs. This will give us a competitive edge in bringing the VX4 into service.”
Garry Lathey, Design and Certification Manager at the UK Civil Aviation Authority, said: “We are committed to enabling innovators such as Vertical take their ideas to market in a safe, secure and sustainable way. The granting of Design Organisation Approval to Vertical is an essential step on their journey bringing an eVTOL aircraft into service. It emphasises our commitment to making the UK a key destination for aviation innovators.
It’s also vital that this work has an international impact and so in all our efforts we aim to work collaboratively with other regulatory bodies around the world to support the future of eVTOL flight and maintain the high safety standards that the public expects.”
- Vertical Aerospace’s DOA number is UK.21J.1001.
- The type of DOA is: Small Aeroplane with eVTOL limitation
- Vertical’s engineering design organisation is now compliant with the UK regulatory requirements of
Part 21 Subpart J.
About Vertical Aerospace
Vertical Aerospace (NYSE: EVTL) is pioneering electric aviation. The Company was founded in 2016 by
Stephen Fitzpatrick, an established entrepreneur best known as the founder of the OVO Group, a leading
energy and technology group and Europe’s largest independent energy retailer. Vertical has focused on
building the most experienced and senior team in the eVTOL industry, who have previously certified and
supported over 30 different civil and military aircraft and propulsion systems.
Vertical’s top-tier partner ecosystem, including Rolls-Royce, Honeywell Aerospace, Leonardo and GKN
Aerospace, is expected to de-risk operational execution and its pathway to certification allowing for a lean
cost structure and enabling production at scale. Vertical has a leading pre-order book for more than 1,400
aircraft from a diverse global customer base, creating multiple potential near term and actionable routes
to market. Customers include airlines, aircraft lessors, helicopter operators and tourism groups, including
American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and FLYINGGROUP, as well as Japan
Airlines (JAL), Gol, Air Greenland, Gozen Holding and AirAsia, through Avolon’s VX4 placements.
Vertical’s VX4 eVTOL is projected to be capable of transporting a pilot and up to four passengers, traveling distances of up to 100 miles, and achieving a cruise speed of 150 miles per hour, while producing minimal noise and zero operating emissions.
Having been issued with its Permit to Fly from the UK’s Civil Aviation Authority in September 2022, Vertical’s VX4 prototype has successfully undertaken piloted flight tests. Vertical is now in the next stages of the flight test programme, which is expected to reach higher altitudes and speeds, as well as demonstrating the transition from vertical to horizontal flight.
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