Vertical Aerospace Business Summary

Vertical Aerospace Ltd. (EVTL) is a pre-commercial aerospace pioneer specializing in the development and commercialization of electric vertical take-off and landing (eVTOL) aircraft. The company employs a capital-light original equipment manufacturer (OEM) model, outsourcing major component fabrication to Tier-1 partners such as Honeywell, Leonardo, and Aciturri to maintain high capital efficiency. Revenue generation is structured around the direct sale of its flagship "Valo" aircraft—a certifiable 4-to-6 passenger successor to the VX4 prototype—complemented by a high-margin "razor-razorblade" recurring revenue stream from proprietary battery replacements, projected to contribute 25% of total revenue by 2035. Positioned as a leading European contender against Joby Aviation, Archer Aviation, and Lilium, Vertical differentiates itself through its rigorous adherence to UK CAA and EASA "Category Enhanced" safety standards and a diversified global order book of 1,500+ aircraft valued at approximately $6 billion. The company is led by CEO Stuart Simpson, a former FTSE 100 executive (Avast, Royal Mail) who assumed the role in July 2025, succeeding founder Stephen Fitzpatrick. Fitzpatrick, the billionaire founder of OVO Energy, remains the lead investor and a key board member. The executive bench includes COO Mark Higson (formerly CEO of Modulaire Group), Chief Commercial & Strategy Officer Michael Cervenka (ex-Rolls-Royce), and VP of Airworthiness Steve Vellacott, who previously served as CTO of Lilium. Recent 2026 appointments have further expanded the C-suite, including Chief Data & Information Officer Juan Carlos Sacristan and VP of Powertrain Richard Moore, a battery expert from Lotus. Vertical’s strategic trajectory is overseen by Chairman Dómhnal Slattery, the founder of aircraft leasing giant Avolon, with significant institutional backing from Mudrick Capital, American Airlines, and Honeywell.