After the electric cargo plane of Elroy Air, Milano Investment Partners SGR invests in the solar-powered aircraft Skydweller Aero, the Spanish-US aerospace start-up specialized in the development of an unmanned aircraft that can potentially fly over the earth for 90 days and as a satellite have numerous applications from telecommunications to geolocation, to terrestrial and maritime surveillance. The management company of Alternative Investment Funds (FIA) specialized in Venture Capital, founded by Angelo Moratti and the CEO Paolo Gualdani, invested in Skydweller Aero through the Cliffs fund, an alternative fund, intended for investments in the deep-tech vertical, with predominance in early-stage companies in the American market. It is part of the Venture Capital platform of MIP SGR launched last December after the success of MIP I.
In recent months, Skydweller Aero has closed a new round of financing with 8 million dollars more than the target, bringing to 40 million the collection through investors in the sector including Leonardo, Marlinspike Capital specialized in the defense sector and Advection Growth Capital. To convince Milano Investment Partners to invest in the solar-powered drone are the prospects of the electric aviation sector which represents a solution towards the energy transition and environmental sustainability, in addition to the countless applications of eVTOL (Electronic Vertical Take Off and Landing) in the field aviation: the latest concerns the Japanese airline All Nippon Airways, which has announced a partnership with Joby Aviation, the Californian start-up that is developing a vertical take-off and landing aero-taxi model. The airline’s goal is to use electric aircraft to reduce travel times between Osaka train station and the man-made island of Kansai International Aeroport.
According to Milano Investment Partners SGR, the investment in Skydweller Aero is part of the Cliffs fund’s portfolio strategy to intervene in those initiatives that will have an important role in the evolution of aviation. As in the case of the Skydweller drone which has the functions of a nearby satellite and whose solar-powered propulsion will allow its power supply in a sustainable mode, as well as perpetual like the sun. An alternative to satellites used for data collection, without the complexity of space launch and in-orbit management. In telecommunications it will be possible to reach remote areas of the planet and allow connection to be made more easily.
The solar-powered aircraft project, initially Solar Impulse, was born 14 years ago and has already been invested 190 million dollars. In 2017 Solar Impulse was sold to become a Skydweller and be transformed into an unmanned aircraft, powered by both batteries and hydrogen, as well as solar energy. Like other aircraft built with innovative technologies, there is currently no on-the-fly certification framework. Its CEO and co-founder Robert Miller is optimistic that it will bring this technology to market very soon.