Richard Chandler Boosts Investment in Electric Aerospace Technology
Back in May, I looked at a growing trend in our region: the electric aerospace industry. At the time, local companies such as Magnix and Zunum Aero were raising capital for research in electric aviation and experts estimated that there were roughly 100 global companies developing electrically propelled aircraft. The Puget Sound region could soon see further advances in the industry, as billionaire Richard Chandler is backing Redmond-based Magnix with a sizable investment.
According to a report published by the Puget Sound Business Journal, Chandler is inspired by the innovation of the Wright brothers and says it’s time to “fly smarter” because “global airlines’ emissions are no longer sustainable.”
As Chandler said in a statement, “Mankind has harnessed the power of air travel to connect nations, accelerate trade and commerce, and further our prosperity. Mobility and economic vitality are now virtually intertwined. However, this mobility comes with a financial and environmental cost.”
Chandler is also funding Eviation Aircraft, which recently unveiled an electric airplane that seats nine—called Alice—at an air show in Paris. Magnix, which was founded by Chandler’s uncle, is building Alice’s motors. As PSBJ outlines, Eviaton Aircraft and Magnix are both part of Chandler’s new aerospace unit, led by Roei Ganzarski.
In a letter to PSBJ, Chandler writes that “Alice is one of the first commercial-scale electric aircraft, a technological leap which promises to change the culture of air travel for future generations.” And so it would seem, the sky is truly the limit when it comes to the electric aviation industry.