Cranfield Aerospace Solutions (CAeS) is pleased to announce that it has secured investment from the Strategic Development Fund (SDF), the investment arm of Tawazun Council of the UAE, and Motus Ventures, taking the current investment round to £14.4million.
CAeS is a pioneer in aerospace design and the manufacture of new aircraft design concepts, complex modifications to existing aircraft and integration of cutting-edge technologies to meet the most challenging issues facing the aerospace industry today. CAeS focus is now firmly on Project Fresson, the unlocking of commercial hydrogen-electric propulsion flight.
Abdulla Naser Al Jaabari, Managing Director and CEO of SDF, commented “We are pleased to invest in CAeS, a leading developer of aircraft powered by hydrogen fuel cells, through our Venture Capital fund. Our interest in hydrogen as a sustainable and clean energy source for aerospace, our confidence in CAeS’s capabilities, and the significance of pragmatically operating within the regulatory environment — all of which CAeS has demonstrated — have contributed to our decision to invest. Additionally, we are confident in the Project Fresson consortium, which is being headed by CAeS. We look forward to working with CAeS, as an active shareholder, and supporting the expansion of the business.”
SDF seeks to invest in strategic sectors including advanced industrial, aerospace, autonomous and mobility technologies. Paul Hutton, Chief Executive Officer at CAeS, commented “We are very excited to welcome our new investors –SDF and Motus Ventures – to join us on our journey in delivering the world’s first fully certified zero-emissions commercial passenger aircraft to the market. To continue the work on Project Fresson we need private investment. The onboarding of SDF and Motus Ventures shows the confidence and trust they have in our experience and ability to deliver the technology needed to create the future of aviation.”