Vertical Aerospace (NYSE: EVTL) announced it will lead the ECLiPSE programme, a £3.4 million initiative to develop high-power charging and thermal management technology for electric aircraft, according to a company press release.

The project includes up to £1.75 million in funding from the UK Department for Transport's Zero Emission Flight Demonstrator programme, subject to completion of a grant agreement. The funding is part of a broader £43 million UK Government package for next-generation aviation technology.

Vertical will lead the programme in partnership with the University of Bath and engineering consultancy InnCat Ltd. The ECLiPSE project — short for Electrified Charging & Liquid-cooling Provision for Support of E-flights — aims to reduce infrastructure costs, simplify site integration and enable faster aircraft turnaround times.

The announcement was made at the Farnborough International Airshow.

Stuart Simpson, CEO of Vertical Aerospace, said: "To unlock commercial electric aviation, the industry needs the infrastructure that allows aircraft to recharge quickly, operate efficiently and scale economically."

Heidi Alexander, UK Secretary of State for Transport, said: "The next generation of flight is taking off in the UK. By powering up electric and hydrogen-powered planes, we're bringing passengers closer to the flights of the future – while creating skilled jobs, backing UK businesses and spreading economic growth to all 4 corners of the country."

Vertical separately disclosed it is in advanced discussions with the UK Government on a package to establish a full-production site in the UK, which would include an additional grant of up to £10 million ($13.5 million). If completed, total direct UK Government funding support for Vertical would reach approximately £48 million ($64 million). That package remains subject to legal, subsidy control, due diligence and ministerial approval processes.

The Bristol-based company is developing the Valo eVTOL aircraft and holds approximately 1,500 pre-orders from customers including American Airlines, Avolon and Japan Airlines.