Israeli electric airplane startup Eviation is being merged into Clermont Aerospace, part of the international Clermont Group of healthcare, financial services and aerospace businesses headquartered in Singapore.
Another Clermont Aerospace company, magniX of Canada, will build the electric engine for Eviation’s Alice commuter aircraft unveiled last June at the Paris Air Show.
The streamlined plane, scheduled for commercial use by 2022, is designed to take nine passengers up to 650 miles – approximately the distance from London to Zurich, or New York to Detroit.
Eviation CEO Omer Bar-Yohay said that 2019 “has been a pivotal year for everyone at the company – we debuted our first electric airplane, announced a partnership with magniX and secured our first commercial contract with Cape Air. Clermont’s investment and expertise in business-building will enable us to accelerate our growth and take Eviation to new heights.”
Clermont Chairman Richard F. Chandler commented, “Air travel connects cultures and communities but remains inefficient, polluting and expensive. Through Eviation and magniX, we are leading the development of affordable and environmentally friendly electric flight.”
Financial details about the 70% Clermont acquisition of Eviation were not disclosed.