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CycloTech Secures Investment
  • 29 Apr 2024 11:07 PM
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CycloTech Secures Investment

On Feb. 28, CycloTech announced that it had raised €20M ($21.7M) to fund its work on a novel propulsion system for aviation. The investment from Breeze Invest and Konos Holdings will go towards further development of the CycloRotor, the Austrian company’s electrically driven propulsion system that features 360-degree thrust vector control, and the eventual certification of the system by the European Union Aviation Safety Agency (EASA). It marks CycloTech’s progress towards meeting its target of raising €53M ($57M) by the year’s end, the company said in a press release. “We are convinced that CycloTech’s unique technology will revolutionize how we move from A to B in the long term,” said Breeze Invest Managing Director Maximilian Schönfeldt in a statement.

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