Alpine Vertical launches $20 million equity raise for hVTOL Argon

Alpine Vertical (previously Zeva Aero) has launched a $20 million equity raise to accelerate the development and commercialisation of its hybrid-VTOL (hVTOL) aircraft, the Argon.

The two-seat, fixed-wing light aircraft leverages “a proven airframe with proprietary vertical lift modifications,” explains Alpine Vertical, which intends to integrate a proprietary electric lift system alongside an internal combustion engine. While the latter will be used for forward flight, a rendering suggests two booms mounted atop the aircraft’s high wings will each feature two sets of VTOL propellers. The aircraft is expected to offer a useful load of 605lbs, with a 330 nautical mile range and a 140mph cruise speed.

“Our strategy of integrating proven aviation technologies with our proprietary hybrid VTOL modifications uniquely positions us to capture an underserved segment of the market – providing an accessible and lower-cost alternative helicopters and larger eVTOL designs,” explained Stephen Tibbitts, CEO and chairman of Alpine Vertical.

Crucially, unlike the other eVTOL/VTOL concept currently engaged in the quest for type certification, the Argon will initially be sold under experimental amateur-built certification; “allowing for early revenue generation and accelerated commercialisation,” explained Alpine Vertical. Unlike its eVTOL peers, Alpine notes that its “rapid go-to-market strategy of 24-30 months” is well-placed to ensure early revenue generation while positioning the company for long-term scalability”.

Initial kit sales will commence between 2025 and 2027, with full FAA certification and mass production expected from 2027 onwards. Alpine Aero then expects “on-demand air mobility services” from 2028. The equity raise is being co-ordinated through Castle  Placement, Alpine Aero’s investment bank.