Overview
- JetZero announced on Monday that lenders have provided a senior secured facility of up to $100 million to fund completion of its full‑scale demonstrator, Jet1, and related manufacturing work.
- Scaled Composites is building Jet1 in Mojave and the company reported the airframe was about 40% complete as of June 2026 with a target first flight in the fourth quarter of 2027.
- The loan is led by Pinegrove Credit Partners and Silicon Valley Bank with participation from Brookfield‑backed Pinegrove and HRTG Partners, and lenders structured draws around program milestones with room to expand capacity as gates are met.
- JetZero says the Z4 all‑wing design is sized for roughly 250 passengers and about 5,000 nautical miles and could cut fuel use and emissions by up to 50%, a company claim that still requires full‑scale flight testing and certification to validate.
- The company broke ground in June on an 8‑million‑square‑foot Factory1 in Greensboro that JetZero expects to support Z4 production and create more than 14,000 jobs while the program will need further testing, certification steps, and likely more capital before commercial service in the early 2030s.