JetZero secures $100 million to advance blended-wing aircraft development

JetZero has secured a credit facility of up to $100 million to advance the development of its Z4 blended-wing-body (BWB) aircraft. The financing, led by Pinegrove Credit Partners with support from Brookfield, HRTG Partners, and Silicon Valley Bank, will fund the construction of the Jet1 full-scale demonstrator, technology development, and new manufacturing and test facilities in Greensboro, North Carolina.

The Z4 aircraft utilizes an unconventional design where the fuselage and wings form a single lifting surface. JetZero claims this configuration could reduce fuel consumption and emissions by up to 50% compared to traditional tube-and-wing aircraft. The commercial version is designed to carry approximately 250 passengers with a range of up to 5,000 nautical miles.

Scaled Composites, a Northrop Grumman company, is currently building the Jet1 demonstrator, which is expected to make its first flight in the fourth quarter of 2027. The company has also broken ground on a new facility in North Carolina, which it expects could create more than 14,000 jobs over the next decade as it works toward an early-2030s entry into service.