E-flights move forward

Bye Aerospace closes $10 million in funding for eFlyer prototypes

Bye Aerospace has received $10 million in funding, the first half from a venture capital group earlier this year followed by a $5 million venture raise.

George Bye

George E. Bye, chief executive of Bye Aerospace, said the investments have allowed his company to begin work on “Serial #001,” the first production-conforming prototype of its two-seat eFlyer 2 aircraft.

The company is based in Englewood, in Denver’s South Metro area.

Bye set out more than a decade ago to figure out how to create electric plane that meet market needs of five-fold lower operating costs, zero emissions, and decreased noise.

Bye Aerospace is developing the FAA FAR 23-certified family of all-electric eFlyer general aviation aircraft, starting with the two-seat eFlyer 2, for professional flight training missions and the eFlyer 4 for air-taxi and advanced training uses. The company estimates the eFlyer will eliminate the release of five million metric tons of CO₂ each year for flight training alone.

This is from the July 23, 2020, issue of Big Pivots. Subscribe for free to the e-magazine by going to Big Pivots.