Dutch start-up Maeve Aerospace has received €2.5 million from a European accelerator fund for the development of its full-electric 44-seater regional airliner. The grant could result in another €15 million if the company secures the same amount in co-investments from private investors Electric start-up Maeve secures EU-funding. This would result in €32.5 million in fresh funding.
Maeve is one of the 78 companies that was selected by the European Innovation Council Accelerator (EIC) that are set to receive €470 million in grants and investments for disruptive projects. The council received over 1.000 proposals from start-ups. Projects span various technologies and industries.
Maeve Aerospace is the only company in the aerospace industry that has been granted funding under the 2022 EIC funding. The Dutch company was established as Venturi only in 2021 but changed its name to Maeve earlier this year. As reported earlier on AirInsight, Maeve wants to develop a 44-seater, as it thinks that this is the exact size of a full-electric aircraft that the market wants. In September, Heart Aerospace said it would grow its aircraft from a 19 to a 30-seater, but it now includes two turbogenerators that run on sustainable aviation fuels.
A 60-seater could be feasible in the projected airframe design, but this is limited by the current status of battery technology. The range is expected to be around 550 kilometers. Maeve said in October that it will unveil an updated design of the high-wing 01 next spring.
Commenting on the EIC funding, CEO Jan Willem Heinen says on LinkedIn: “Our employees and fellow founder Joost Dieben see the investment from the EU not only as an important financial step forward, but above all as a sign of the highest possible confidence in the promise Maeve Aerospace makes to civil aviation: within bring a fully electric, emission-free and low-noise aircraft to the market for at least 44 passengers within 8 years. It gives an extra boost to the introduction of our new aircraft design in four months.”
Maeve recently announced it is entering the third round of investments to get the project into the next phase. The company successfully secured €3.4 million in June, which it says is sufficient to complete two prototypes.
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016.
In 2022, he has gone full-time freelance. Richard has been contributing to AirInsight since December 2018. He is also writing for Airliner World and Aviation News. From January 2023, he will add a part-time role with Dutch website and magazine Luchtvaartnieuws. Twitter: @rschuur_aero.