**Funding boost for Valo certification** Vertical Aerospace, the Bristol-based eVTOL developer listed on the NYSE under EVTL, announced on August 10 that it has secured approximately $100 million in financing commitments. This injection of capital is intended to accelerate the certification and industrialization of its Valo aircraft, a four-passenger electric vertical take-off and landing (eVTOL) vehicle. The funding comes from three sources: Mudrick Capital, the company's largest shareholder, will provide $40 million through an existing convertible note facility (with $5 million already drawn and an accelerated $35 million expected before August 12); a group of existing and new investors will subscribe to $35 million in shares with warrants at $1.05 per unit; and $25 million will come from a preferred equity facility with Yorkville Advisors Global. However, the $35 million tranche from Mudrick Capital is still subject to a non-binding agreement in principle, so the total is described as "commitments" rather than fully received funds. **Key milestones and funding priorities** The primary use of these funds will be the Critical Design Review (CDR), a pivotal step in any aerospace program that freezes the certifiable design before building conforming aircraft for regulatory testing. Vertical aims to complete the CDR by the end of 2026, paving the way for the construction and testing of certification aircraft under the oversight of the UK Civil Aviation Authority (CAA) and in coordination with the European Union Aviation Safety Agency (EASA). The funds will also support the expansion of the Vertical Energy Centre, with the goal of tripling battery production capacity, and the establishment of future production facilities in the UK. Additionally, the company plans to modify its third prototype to begin hybrid-electric flight tests in the first half of 2027. **Progress and timeline adjustment** Vertical has achieved a significant technical milestone: in April, it completed a piloted transition flight between vertical and wing-borne flight on a full-scale eVTOL, claiming to be the first to do so under CAA regulatory oversight. At the Farnborough Airshow, the company performed five flight demonstrations over five days, including the first public piloted transitions of an eVTOL at that event. Despite these successes, the certification timeline has slipped. After previously targeting 2028, Vertical now expects type certification of the Valo in 2029, citing the need to replan remaining certification work, including the construction and testing of conforming aircraft. **The Valo aircraft and market outlook** The Valo is a piloted eVTOL designed to carry four passengers and a pilot, featuring eight tilt-shift propellers for vertical take-off and wing-borne cruise. It has a cruise speed of 150 mph (about 240 km/h) and a range of 100 miles (about 160 km) for the fully electric version. The aircraft targets CAA/EASA certification under SC-VTOL "Enhanced" category, a stringent safety framework for commercial passenger operations. Honeywell supplies avionics and flight control systems, while Vertical develops critical components in-house, including batteries and propellers. The hybrid-electric variant, still in development, would extend range to up to 1,000 miles (about 1,600 km) and payload up to 1,100 kg on shorter routes, aiming beyond urban air taxi to logistics, special missions, and defense applications. Vertical claims about 1,500 conditional pre-orders, valued at an estimated $6 billion.