EV Aircraft startup Beta Technologies seeks to raise $825M in an IPO Skip to main content

Featured

Denmark's data centres have quite a small number of people working!

Politicians often express great enthusiasm when tech giants announce plans to build data centres in Denmark. “It’s an apple that has fallen into our lap, and to stick with the Apple theme, we’re on cloud nine,” Torsten Nielsen (K), who was mayor of Viborg Municipality at the time, said when Apple first announced its data centre back in 2015 . He expected 10,000 new jobs to be created in the municipality. This prospect of hundreds—if not thousands—of new jobs is often cited as a huge benefit to society. Among other places, in West Jutland, where Microsoft is planning to build three large data centres. “I am very pleased when large companies as Microsoft choose to make significant investments in Denmark and help create new jobs. I am confident that this new data center region in the municipalities of Esbjerg and Varde can help develop West Denmark and contribute to growth, new jobs and even greater progress,” Stephanie Lose (V), then minister for economic affairs, said in Microsoft’s pre...
Post a Comment
Read more

EV Aircraft startup Beta Technologies seeks to raise $825M in an IPO

Electric aircraft maker Beta Technologies is gearing up for an IPO that could bring in up to $825 million, according to a recent SEC filing. The company plans to price its shares between $27 and $33, which would give it an estimated valuation of around $7.2 billion if shares sell at the top of that range.

Beta Technologies

Founded in 2017 by Kyle Clark, Beta has taken a distinctive route in the electric aviation race. Based in Vermont, far from Silicon Valley’s startup scene, Clark—a Harvard graduate, former professional hockey player, and flight instructor—has built the company with a focus on practical engineering and long-term partnerships rather than flashy hype.

Interestingly, Beta has avoided traditional venture capital funding, instead securing $1.15 billion from major institutional backers like Fidelity and the Qatar Investment Authority.

The IPO filing comes even as the U.S. government remains in partial shutdown. Thanks to recent SEC guidance, companies like Beta and Navan have been able to move forward with their IPOs without waiting for full staff review, allowing offering statements to become automatically effective after 20 days.

Adding to its momentum, Beta recently struck a strategic partnership with GE Aerospace to co-develop a hybrid-electric turbogenerator for the next generation of aircraft. As part of the collaboration, GE Aerospace is taking an equity stake in Beta and investing $300 million to accelerate the company’s electric aviation ambitions.

Comments

Post a Comment

Popular Posts