E-Go Aeroplanes Limited – In Administration
Investment Opportunity: Seeking a purchaser for a single-seat aircraft manufacturing business
Client FRP Advisory LLP
E-Go Aeroplanes Limited (in Administration) “the Company” was founded as a result of a design competition based on the Civil Aviation Authority’s “Single-seat de-regulated” category in 2007. After winning the high-tech category, the designers raised £1.7m of capital to create a prototype and subsequently a production aircraft.
The simple canard design and monocoque construction, meets an exacting specification in SSDR microlight aircraft category. The aircraft can be dismantled so that it can be stored and transported easily in a bespoke trailer.
It has a carbon fibre and foam structure, which makes it very light with potential to be converted into a drone with a 90kg payload or install an electric powerplant. It also has potential to be built cheaper in the Far East.
The Company operates from leasehold premises near Cambridge and currently has two employees running day to day operations.
The Company also has a database of over 2,500 aviation enthusiasts that follow the Company’s products and news.
High production costs of the first production single seater model have led Management to seek further capital in September 2016 to modify the aircraft for series production, and develop a multi-seater craft but they have been unsuccessful in raising finance on a solvent basis.
Further company information can be found here.
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