The Clermont Group recently announced that the acquisition of Eviation Aircraft has been completed. On 23 January 2019, Clermont entered into an agreement to acquire majority control of Eviation. The acquisition process has now concluded.
Clermont has been issued equity equal to 70% of Eviation’s share capital on a fully diluted basis.
Eviation is working to become the first-to-market manufacturer of an all-electric propulsion aircraft, named Alice. Alice, which targets middle-mile commutes of up to 650 miles, was unveiled at the Paris Air Show in June this year. At the Air Show, Eviation also announced its first commercial contract with Cape Air and expects to begin shipping the aircraft for commercial use in 2022.
Eviation has now been formally incorporated into Clermont Aerospace. The Clermont Group is an international business group headquartered in Singapore. Founded in 1986 by New Zealand-born entrepreneur Richard F. Chandler, the Clermont Group builds businesses in healthcare, financial services and aerospace. Clermont Aerospace also owns magniX, an electric engine company. MagniX recently announced a program with Harbour Air, Canada’s largest seaplane operator, to certify its magni500 motor. The smaller magni250 motors will power Eviation’s Alice. Clermont Aerospace is committed to turning Eviation’s vision of electric flight into a commercial reality.