E-GO AEROPLANES STILL SEEKING INVESTMENT

27 Jan 2014

British start-up company, e-Go aeroplanes, is reporting that it has so far received £500,000 of the investment it needs to put its innovative single-seat aircraft into production. However, it needs a total of £650,000 so is still seeking more money.

e-Go is using Cambridge-based Syndicate Room to raise the cash. e-Go is offering
23.78% equity for the total of £650,000 which values the company at £2,083,389.

"In the past few days, the Financial Times and Telegraph have both published articles on e-Go’s fundraising with a great photo of the view from the cockpit in flight," says David Boughey, e-Go's sales and marketing director.

"Both reported some of the detail incorrectly! They wrote that we had achieved our investment target which is not yet correct. The £500k achieved to date is a great milestone but only one on our way to our true target, something we are still working on and making good progress."

e-Go's premises, also near Cambridge, have had some famous visitors over the past month to see the futuristic looking, de-regulated aircraft.

"Astronaut Michael Foale arrived in early January," says David. "Michael, who holds dual UK-US nationality, recently retired from NASA and shared with us his desire for working on 'green' aviation technology and development of electric aircraft.

"Michael spent several hours being shown around the e-Go Centre accompanied by his family. He had animated discussions covering various aspects of the e-Go design with Exec Chairman, Malcolm Bird and several other team members.

"Michael was keen to try the cockpit for size and also encouraged his family members to take the simulator controls!"

"Our second world class aviator was Paul Bonhomme – World Champion in the Red Bull Air Race series in 2009 and 2010. Paul’s day job flying heavy jets for British Airways and his Zivko Edge 540 in the [Red Bull] race calendar means he has a vast wealth of aviation experience. He had been expressing an interest in the e-Go project for some time and it was great to host him at the e-Go Centre.

"Paul found the cockpit comfortable, despite being over 6ft; his smile in the photograph says it all. With the canopy fitted, Paul commented on how fantastic the view was, something that most pilots comment upon."

At the end of January, e-Go has another package of flight testing with Keith Dennison introducing the controls of the aircraft to John Brownlow and Dodge Bailey. "This will obviously give us more flexibility in the future to utilise the skills of our three talented test pilots."

LINKS
e-Go aeroplanes

Syndicate Room