London, March 17, 2021 – Falko Regional Aircraft Limited (“Falko”) a market leading aircraft asset management company focused on the regional aircraft sector has made an investment in Electric Aviation Group (EAG).
EAG is currently the only independent company in the world, solely focused on the development of a hybrid electric regional aircraft (“HERA”) capable of ranges up to 1200 nautical miles fulfilling the role currently performed by regional turboprops.
Kamran Iqbal, Founder and CEO of EAG, thanked Falko for their support of EAG. He added “The last 12 months have been extremely difficult for the entire aerospace sector but now we can see a light at the end of the tunnel. I strongly believe that aviation & aerospace sectors will come out of COVID-19 crisis stronger and more focused, demonstrating the resilience of the aerospace sector to these external shocks”
Falko CEO, Jeremy Barnes, said “We are really excited to support EAG at this stage of its development. EAG complements Falko’s regional market focus and the investment demonstrates our long-term commitment to the development of future technologies aimed at reducing emissions within the aviation sector to assist the UK achieve NetZero leadership.”
Driven by the increasing focus on the environmental impact of the aviation industry, the aerospace sector has increased its commitment to developing green technologies to make the industry sustainable in the future. EAG’s approach is to utilise existing airframe designs and add new technologies that will create a hybrid-electric regional aircraft. EAG aims to be at the forefront of the aviation industry’s drive to a greener future.
Capital Law advised Falko on the transaction.