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Aeralis taps into mystery Middle Eastern wealth fund

16th September 2021 - 16:30 GMT | by Shephard News Team

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A Middle Eastern sovereign wealth fund is ploughing an initial £10.5 million into Aeralis. (Photo: Aeralis)

An initial £10.5 million is being invested from the Middle East in helping Aeralis to progress its eponymous modular aircraft.

Aeralis announced on 16 September that it has signed an investment agreement with an unnamed Middle Eastern sovereign wealth fund.

The UK-based aircraft designer added in a statement during DSEI 2021 that the wealth fund has invested an initial £10.5 million ($14.5 million) to ‘support the design, development and first flight’ of its Advanced Jet Trainer (AJT) platform.

Aeralis CEO Tristan Crawford hailed the deal as a ‘transformational moment’.

Shephard recently reported that Aeralis has added Atkins and Siemens Digital Industries Software to its integrated design team, with a first AJT flight planned for 2024.

Other configurations for the modular Aeralis platform will include light attack, jet training and aerobatic display.