UK/INTERNATIONAL. Urban-Air Port (UAP) has announced a new investment from Supernal, previously the Urban Air Mobility Division of Hyundai Motor Group. The funding will help support UAP’s plans to develop 200 vertiport sites across the world in the next five years.
UAP said that investment will contribute to the delivery of the partners’ shared vision of integrating advanced air mobility (AAM) into existing transit networks and creating a seamless passenger journey.
As reported, last September UAP announced a deal with Hyundai to develop 65 Urban-Air Port vertiports in locations across the US, the UK, the EU and Asia Pacific.
UAP’s vertiport sites will provide essential infrastructure to help enable mass adoption of future electric vertical take-off and landing (eVTOL) aircraft – such as cargo drones and air taxis – as public acceptance grows and will transform the way goods and people are transported around urban areas.
UAP also announced this week that the world’s first fully operational hub for eVTOLs, Air-One, will open for public visitation in the UK city of Coventry on 25 April, with a demonstration event which will run through to 15 May.
The demonstration will show how AAM can help unlock the potential of sustainable mobility and how the industry will work to help reduce congestion, cut air pollution and decarbonise transport.
“With Supernal’s investment and expertise and connection to Hyundai Motor Group, we can supercharge the rollout of sustainable, intermodal and scalable ground infrastructure that will unleash the future of advanced air mobility globally” – Urban-Air Port Founder and Executive Chairman Ricky Sandhu
The new injection of funds from Supernal is the first time a major eVTOL company has invested in an AAM ground infrastructure developer.
As part of the agreement, Urban-Air Port has also named Adam Slepian, Global Head of Partnerships & Business Development at Supernal, to its board of directors.
In another move to strengthen ties, Matthew Sattler, Manager of Infrastructure and Ecosystems Partnerships at Supernal, joins UAP’s board of advisors.
UAP said the close collaboration between the two companies will ensure knowledge and expertise are shared across two crucial components of the industry.
Urban-Air Port Founder and Executive Chairman Ricky Sandhu said: “Cars need roads. Trains need rails. Planes need airports. eVTOLs need Urban-Air Ports. Despite the unparalleled potential of eVTOL aircraft to revolutionise mobility, the importance of the ground infrastructure that enables them is too often overlooked.
“With Supernal’s investment and expertise and connection to Hyundai Motor Group, we can supercharge the rollout of sustainable, intermodal and scalable ground infrastructure that will unleash the future of advanced air mobility globally.
“We are assembling a group of aligned financial and corporate venture capital investors that will extend our leadership. I look forward to welcoming further investors into UAP.”
The urban air mobility market is forecasted to grow by +9% annually, reaching US$12.7 billion by 2027 and up to US$1 trillion in the next 20 years. However, UAP noted that the lack of ground infrastructure remains one of the biggest barriers to the growth of the AAM industry.
For example, UAP observed, only 3% of industry investment in 2021 (US$150 million) was in the physical ground infrastructure, despite 33 times that figure (US$5 billion) announced for the development of eVTOL vehicles in the same period.
UAP said Supernal is convening both public and private stakeholders to responsibly shape the AAM industry and develop its own eVTOL aircraft. The company plans to launch its first commercial flight in 2028.
Hyundai Motor Group President and Supernal CEO Jaiwon Shin said: “At Supernal, we are on a mission to transform how people and society move, connect, and live; therefore, it is essential we not only develop electric air vehicles, but also help shape the broader advanced air mobility market from the ground up.”
He added: “We are pleased to continue working with Urban-Air Port and support its efforts to create ground infrastructure that works seamlessly with eVTOLs and integrates the advanced air mobility industry with existing modes of transportation.”
Read our recent in-depth interview with Ricky Sandhu on the potential for Urban-Air Ports and the commercial opportunities that will arise from them here.
