Ascendance Flight Technologies will continue progress on its hybrid electric VTOL aircraft ATEA following new investment totalling €21 million.
The new funds give Ascendance the resources to fly its full-scale prototype, begin certification and scale-up actions for its first aircraft, and help its clients and partners to reduce the carbon emissions of their aircraft thanks to the company’s hybrid technology.
French Tech Souveraineté, operated by Bpifrance as part of the France 2030 plan, CELAD, Expansion Aerospace Ventures, SC Mahé, Adrien Montfort (CTO Sorare) via Snaw Ventures, and ARIS Occitanie have contributed to this funding round alongside investors Habert Dassault Finance, Céleste Management, IRDI, and M-Capital, which have made significant reinvestments.
Jean-Christophe Lambert, Co-founder & CEO of Ascendance Flight Technologies, said: “This fundraising round is critical for sustainable aviation in France. It is a logical step forward in our roadmap for the industry’s energy transition. It will accelerate the technical and commercial development of our products while also contributing to our central aim, to build a sustainable model for cleaner air mobility. We are very proud to have brought together these renowned financial partners, whose quality and complementary nature will ensure that they can support the company through its upcoming development stages.”
Adrien Muller, Director of Investments at Bpifrance, commented: “Via French Tech Souveraineté, Bpifrance is delighted to support the teams at Ascendance Flight Technologies in this crucial new phase of the company’s development. Ascendance Flight Technologies aims to revolutionize and decarbonize civil aviation through its innovative industrial project. This investment is fully in line with the climate and industrial components of our roadmap.”
Benoit Habert, Managing Director of Habert Dassault Finance, commented: “We’re impressed at the pace at which the company is growing, the implementation of its roadmap, and the commitment of its teams. Habert Dassault Finance has therefore decided to increase its share ownership by taking part in this second round.”
Vincent Gardeau, President of CELAD, added: “We were drawn to Ascendance Flight Technologies’ innovative, disruptive and decarbonized project and the teams enthusiasm. Taking part in this wonderful venture is an opportunity to support France’s environmentally friendly aeronautics ecosystem. The synergies between our companies are clear, particularly in our IT and electronics expertise in embedded systems. CELAD is an industry player with a long-term commitment to helping AFT achieve its ambitions.”
Ascendance is now entering an intensive prototyping and scale-up phase with the recent delivery of its integration and test flight facilities at Muret L’Herm aerodrone near Toulouse. The company will continue with its roadmap with the aim of delivering its first aircraft in 2026. The coming years will bring major steps forward in its two priority development areas:
- Building the first flight-capable full-scale prototype of its ATEA aircraft and continuing with the aircraft certification process that is currently under way with the European Union Aviation Safety Agency (EASA)
- Fulfilling its first contracts and partnership agreements to integrate STERNA, its patented modular hybrid propulsion system, into existing aircraft
The company, which announced the signature of 245 Letters of Intent (LoI) for its ATEA aircraft in 2022 and carried out full-scale testing of its hybrid technology, is also continuing to expand its personnel. Stéphane Viala, previously SVP Engineering as ATR, recently joined the company. 50 positions will be created over the next 18 months to bring new skills to its teams and allow Ascendance Flight Technologies to fulfil its ambitions.