St Baker tips millions into Australian long range electric vertical take off technology

Coal baron and self-described “futurist” Trevor St Baker has once again thrown his financial weight behind the electrification of transport, this time backing Australian electric aircraft start-up, AMSL Aero.

St Baker, though his St Baker Energy Innovation Fund, will tip $5 million into AMSL Aero – the company behind ‘Vertiia’, which claims to be the world’s most efficient electric vertical take-off and landing (eVTOL) aircraft technology.

The investment from StBEIF forms part of a $23 million Series A funding round, which attracted a range of big name co-investors, including IP Group, Telstra Super and Hostplus.

AMSL Aero’s Vertiia eVTOL is powered by clean electricity and hydrogen fuel and touted as the first eVTOL to be able to fly 1,000km.

AMSL Aero says its patented technology and use of hydrogen and fuel cells sets it aside from competitors, promising to make the Vertiia travel faster and further using less energy.

The Vertiia is designed for a cruising speed of 300km an hour and to travel 250km completely on battery power.

Like other eVTOL’s, it takes off vertically like a helicopter, thus eliminating the need for a runway and – in this way – potentially revolutionising personal and emergency transportation.

Two years ago, AMSL launched a prototype of its Vertiia eVTOL in Sydney, in partnership with air-rescue organisation CareFlight, claiming it as the world’s first electric air ambulance.

At the time, Australia’s then deputy PM and leader of the National Party, Michael McCormack, likened the Vertiia prototype to the “futuristic technology” in the Hanna-Barbera cartoon from the 1960s, The Jetsons.

In reality, eVTOL technology is very much in the now, with a number of major industrial giants putting their weight and R&D resources into advancing it and other zero emissions – and potentially, zero pilot – aviation technologies.

St Baker’s interest in the eVTOL industry may have been spurred by exposure to it via another Australian company his fund has backed – electric vehicle charging infrastructure success story, Tritium.

In April of this year, Tritium partnered with Hyundai on a world-first flying taxi hub called “Air-One” in Coventry, in the UK, installing a 350kW fast-charger at the “vertiport” to power trials of Hyundai’s Supernal Aero eVTOL.

StBEIF CEO Rodger Whitby said on Wednesday that AMSL Aero attracted the fund’s attention due to the extraordinary progress it had demonstrated, including on its plans to fly certified flights in coming years.

“The founders are pioneers of the electric aircraft industry in Australia and are at the forefront of Australia’s future fleet of energy-efficient air transport options,” Whitby said.

“Whilst operating in a competitive space, AMSL Aero has a clear pathway to market, which does not rely heavily on yet to be proven technological advancements.”

Whitby said that while the investment was the fund’s first in the aerospace sector, it complemented other e-mobility companies in its portfolio.

“The investment fits well alongside battery technology (Novonix), DC fast chargers (Tritium) and charge point operator (Evie), which will all play a role in providing the infrastructure to launch a successful eVTOL industry,” he said.

In turn, AMSL founders Andrew Moore and Siobhan Lyndon said they were attracted to StBEIF because of its track record in overseeing high tech companies “achieve many multiples of its initial investments.”

“We are one step closer to bringing our innovative technology to market and revolutionising the transport industry by creating a benchmark for green aircraft,” said Moore.

“Vertiia was purpose-built for the aeromedical, emergency services and passenger markets and provides a new, safe and affordable transport industry for the future.”

One of St Baker’s largest investments has been the 1,320MW Vales Point coal-fired power station, which was acquired from the NSW government at the cost of just $1 million. The power station, one of the state’s oldest, is expected to operate until at least 2029.