Merged entity plans zero-emissions sub regional aircraft by 2026
Aircraft manufacturer Britten-Norman and Cranfield Aerospace Solutions (CAeS) are merging to launch a zero-emissions sub regional aircraft for entry into service in 2026.
The companies have signed a Heads of Terms agreement and the merger is due to complete in mid-2023, subject to final due diligence.
A consortium of CAeS investors comprising HydrogenOne, Safran Corporate Ventures and investment firm Strategic Development Fund (SDF) will invest up to £10m in the new company, including up to £5m investment from HydrogenOne once the merger is finalised.
Cranfield University and Motus Ventures will retain shares in the new business. Britten-Norman's current owners will also join the new business.
The combined entity will incorporate seven sites in London, Cranfield, Gosport, Isle of Wight, Southampton, Miami and Malta and will employ around 220 people.
“The merging of Britten-Norman and Cranfield Aerospace Solutions will create a new market leader in green aircraft manufacturing, bringing together joint strengths in aerospace manufacturing, certification and innovation,” said William Hynett, chief executive of Britten-Norman. “The investment will give a huge boost to UK aviation exports and will deliver the first OEM sub-regional aircraft powered by hydrogen.”
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