Dutch start-up Maeve Aerospace, which is developing an all-electric 44-seater, has bagged up to €17.5 million ($18.6 million) in EU innovation funding.

Previously known as Venturi Aviation, the Delft-based company hopes to achieve service entry in 2030 for its battery-powered Maeve 01.

Echelon 3-c-Venturi

Source: Venturi

Maeve will receive an initial €2.5 million from the European Innovation Council (EIC), with a further €15 million potentially available from co-investments; €17.5 million is the maximum available through the EIC.

Maeve co-founder Jan Willem Heinen says the funding is an “incredible stimulus that expresses the highest possible confidence” in its plans.

It also provides “an extra boost to the introduction of our new aircraft design in four months,” he adds.

At June’s ILA Berlin air show, Heinen revealed that it was considering reducing the number of electric motors on the Maeve 01 to six from eight in early renderings when it was still refered to as the Echelon 01.

In addition to the EIC backing, Maeve hopes “in the short term” to conclude a successful investment round with private investors, it says.

In June, Maeve said it had also raised an initial €3.4 million from several undisclosed investors.