Cranfield Aerospace Solutions and Britten-Norman have delayed their merger plans and are instead negotiating a strategic partnership to develop a hydrogen-electric powered version of the BN-2 Islander aircraft.
Britten-Norman and Cranfield Aerospace Solutions (CAeS) signed a Heads of Terms Agreement to merge, aiming to create a zero-emission hydrogen-electric commuter aircraft based on the Islander, with entry into service planned for 2026. CAeS investors will invest up to £10 million in the new business.
HydrogenOne, a London-listed clean hydrogen fund, invested £5 million in Cranfield Aerospace Solutions. The investment is part of a consortium funding round of up to £10 million to support the merger with Britten-Norman to develop the world's first zero-emissions commercial aircraft.
Britten-Norman and Cranfield Aerospace Solutions (CAeS) signed a Heads of Terms agreement to merge, creating a zero-emissions sub regional aircraft company. A consortium led by HydrogenOne Capital Growth Plc will invest up to £10 million in the new company.
Cranfield Aerospace Solutions and Marshall Aerospace and Defence Group signed a memorandum of understanding to collaborate on aerospace and aviation engineering, including concept design, conversion, modification, and support.
| Site | Largest | Latest |
|---|---|---|
| United Kingdom | $6.20M | 2023-05-03 |