EU innovation fund invests in Dutch electric aircraft

Maeve Aerospace, a Netherlands-based start-up developing a 44-seat electric plane, has received a million-euro grant from the European Commission. The grant supports the development of a fully electric, emission-free and low-noise aircraft for at least 44 passengers, that the company intends to bring to the market within 8 years.

Maeve Aerospace, which is previously known as Venturi Aviation, secured €3.4 million in private investment last summer. The new grant from the European investment fund European Innovation Council (EIC) consists of a lump sum of €2.5 million, plus €15 million in co-financing if the start-up manages to raise the same amount from private investors.

The startup, based in Delft, regards the investment from the EU not only as an important financial step forward, but especially as a sign of the confidence in Maeve Aerospace's promise to civil aviation.

Maeve’s flagship is the Maeve 01, an aircraft with eight electric motors and a cruising speed of 264 knots (nearly 500 kilometres per hour). The flying range of this new aircraft should be around 550 kilometres, which is enough for the Amsterdam – London stretch.