Aura Aero accesses $95m European ‘Innovation Fund’ grant
October 29, 2024
Electric aircraft developer Aura Aero has been selected as a laureate in the European ‘Innovation Fund’ programme, enabling it to access €95 million in funding to accelerate its deployment of low-carbon aircraft.
“With initiatives such as this one, we support startups working to transform our aeronautical landscape, while creating jobs and reinforcing our position as a global leader in sustainable aviation,” said François Durovray, French Minister delegate for transport. “Thanks to innovation and to the expertise of our French companies, we are taking a step further towards responsible air mobility”.
Aura Aero is currently developing its clean-sheet line of twin-seat GA / training aircraft, the ‘Integral’ family, alongside its 19-seat hybrid-electric regional ‘ERA’ aircraft – the latter anticipating a first flight in 2026 ahead of entry into service in 2028. The company also noted that its “ability to scale up, accelerate its deployment and promote the commercialisation of its products has played a major role in the award of this grant” – with a factory at France’s Tououse-Francazal airport to be augmented by an additional facility at Florida’s Daytona Beach International Airport.
The Innovation Fund – financed by the EU Emissions Trading System revenues – is one of the world’s largest funding programmes for low-carbon technologies, having awarded over $7.2 billion to over 120 projects to date. “To be one of the 85 projects selected [in the latest round], in 18 countries, is not only an honour but also the sign of a major move by the European Union in its efforts to industrialise decarbonisation initiatives,” concluded Aura Aero.
