Elixir Aircraft closes financing of $43 million for new factory

French aircraft manufacturer Elixir Aircraft has finalised its total capital financing budget of €40 millions ($43.4 million) over the next five years. The funding will be allocated to the construction of a new factory in La Rochelle. It will also be used to recruit 500 staff to expedite delivery rates. €13 million  ($14.1 million) was raised in new capital through various investor fundraising. Investors included Innovacom and Bpifrance. The company had also previously received €13 million in subsidies, which were announced by the French President at the Paris Air Show 2023 as part of its ambitions to reduce emissions in its France 2030 plan. The remaining €14 million ($15.2 million) will be financed through bank loans. Bpifrance Amorcage Industriel fund director Raphael Didier said: ""Bpifrance is proud to support Elixir Aircraft in the next stages of its development, by committing to multiple financing levers in its fundraising: with the Bpifrance Amorcage Industriel fund, and with the various innovation support schemes, notably within the framework of France 2030."" ""After a decade of hard work, Elixir Aircraft has reached a turning point,"" said Elixir Aircraft president Arthur Leopold-Leger. ""Design, certification and first deliveries have been achieved. Now it's time for mass production."" Elixir Aircraft has delivered 19 of its fourth generation aircraft, which has been EASA CS-23 certified. It has a further 200 on pre-order.