Jetoptera completes VTOL propulsion tests, issues $1.5 million in equity
VTOL manufacturer Jetoptera has completed flight tests on its new fluidic propulsion system and has followed up with an equity issue of $1.5 million.
The fluidic propulsion system will be used to power Jetoptera’s upcoming passenger VTOL, the J2000. The aircraft is expected to have a cruise speed of 200mph, a maximum range of 200 miles and a maximum take-off weight of 2000lbs.
Fluidic propulsion was tested on a glider prototype, which Jetoptera has been using to test all of its experimental VTOL components before finalising a prototype build of the J2000.
Jetoptera CEO, Denis Dancanet said: “Following on from fluidic propulsion’s first flight two months ago, we have developed a glider-based platform to test FPSTM systems of various sizes, shapes and power. This summer, more tests will follow employing the flying test bed for wing flight evaluations. Separately, Jetoptera’s technology maturation plan also includes upcoming VTOL and hovering demonstrations.”
Fluidic propulsion is claimed to offer greater efficiency than other vectored-thrust based alternatives. The system will be simpler and more compact than a turbojet and will offer the same fuel efficiency as using a turbofan.
Dr Andrei Evulet, CTO of Jetoptera said: “The glider test bed is the perfect tool for us, allowing testing over the entire flight envelope expected for Jetoptera’s cargo and manned aircraft product line.
“It allows a rapid deployment of the best designs down selected from static and wind tunnel tests. It shows clearly the advantages of using the propulsion system for other wing-borne flight applications as well. This test is a key step in the FPSTM maturation program, which has yielded positive results and sets us on the right path for future certification testing.”
Just after completing its test flight, the pre-revenue company issued $1.5 million in equity with a minimum accepted investment of $250,000. This follows on from its initial $1.5 million offering in 2017, which had a minimum investment of $50,000.