Vertical Aerospace (NYSE: EVTL) issued a first-half 2026 business update, reporting flight test progress, new partnerships, and approximately $100 million in financing commitments from existing and new investors.

The Bristol, UK-based eVTOL developer said it completed piloted transition flights with two full-scale aircraft and conducted five consecutive days of public flight demonstrations at the Farnborough International Airshow in front of more than 140,000 visitors. The company said it became only the second company globally to complete a piloted transition flight in a full-scale tiltrotor eVTOL.

Vertical said it had approximately $134 million in cash and cash equivalents as of August 13, 2026. The company expects net cash outflows of approximately $150 million over the next 12 months, covering certification, manufacturing readiness, and hybrid-electric development. It said current liquidity and financing proceeds are expected to provide at least 12 months of runway.

The company entered advanced discussions with the UK Government for up to £10 million ($13.5 million) in support for a planned production facility and signed a non-binding memorandum of understanding with UK Export Finance for potential export-linked financing.

Vertical also announced a partnership with Near Earth Autonomy to support autonomous flight capabilities and joined Honeywell Aerospace-led Project VERTI-GO, described as Europe's equivalent of the FAA's eVTOL Integration Pilot Program.

The company targets a Critical Design Review by year-end 2026, the opening of an early aircraft production facility in the third quarter of 2026, and an expanded energy center in the fourth quarter. Hybrid-electric flight testing is planned for the first half of 2027.

CEO Stuart Simpson said in a statement that the period has been "one of the most significant" in the company's history, citing flight milestones, Farnborough demonstrations, ecosystem expansion, and financial progress.