Statkraft Ventures Invests In Electra’s eSTOL

Statkraft Ventures Invests In Electra’s eSTOL

A leading energy transition and climate tech VC fund, Statkraft Ventures, has invested in Electra, the company announced this week. This investment will accelerate the development of Electra’s hybrid-electric short take-off and landing (eSTOL) aircraft and support commercialization of the vehicle.

Statkraft Ventures invests in companies and emerging technologies that will help to reduce emissions. Electra’s “visionary approach and groundbreaking technology to electrify aircraft, reducing operating costs and emissions at the same time, align perfectly with Statkraft Ventures’ mission to support innovative startups that drive the transition to a low-carbon economy,” commented Alexander Kueppers, Managing Director at Statkraft Ventures, regarding the new partnership.

In 2023, Statkraft Ventures has made several investments, including the following:

• Norwegian tech start-up Zeabuz with an autonomous system for maritime vessels
• Norwegian cleantech company Alva Industries, a designer and manufacturer of electric motors for industrial drones, robotics, and other applications
• Hydrosat, which is developing a constellation of satellites and delivers a continuous thermal monitoring capability with high-resolution data that enables users to track water stress events 

in June, Electra revealed the EL-2 Goldfinch test vehicle for its eSTOL aircraft, a two-seat piloted tech demonstrator. The eSTOL developer also entered into an agreement with Safran Helicopter Engines last month. Safran will develop the 600 kW electric turbogenerator propulsion system for Electra’s nine-passenger eSTOL prototype.

The company will soon launch its summer flight test program with the two-seat tech demonstrator following a series of ground tests to validate its blown lift performance.

As of this week, Electra has recorded more than 1,200 aircraft pre-orders from 30+ global customers.

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