Statkraft Ventures has announced its investment in electric aviation company Electra to enable it to further develop its hybrid-electric ultra-short takeoff and landing (eSTOL) aircraft.

The eSTOL aircraft is designed for runways as short as 150 feet and provides a viable travel option for short regional routes, providing an eco-friendly alternative to lengthy road trips in personal cars by cutting trip times and emissions.

“We are excited to partner with Electra as they are leading the change towards more sustainable aviation,” said Alexander Kueppers, managing director at Statkraft Ventures. “Their visionary approach and groundbreaking technology to electrify aircraft, reducing operating costs and emissions at the same time, align perfectly with Statkraft Ventures’ mission to support innovative startups that drive the transition to a low-carbon economy.”

According to Electra, the investment will leverage Statkraft Ventures’ expertise in sustainable energy transition to accelerate the development and commercialization of Electra’s nine-passenger production eSTOL aircraft.

John S. Langford, Electra’s founder and chief executive officer, added, “Statkraft Ventures brings a deep commitment to supporting companies and technologies that reduce emissions and address the threat of climate change. We are honored to have Statkraft Ventures on our team and look forward to learning from their insight and experience.” ‍

Electra recently unveiled the technology demonstrator for its eSTOL aircraft and will begin flight testing later this summer. The company currently holds over 1,200 aircraft pre-orders from more than 30 global customers, both established aircraft operators as well as new entrants redefining the transportation of people and goods.

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