JetZero has completed a senior secured term loan facility worth up to US$100 million, building on recent milestones for its all-wing aircraft programme. Designed for the mid-market segment, the aircraft will carry around 250 passengers over distances of up to 5,000 nautical miles and is expected to reduce fuel consumption and emissions by up to 50% compared with conventional tube-and-wing aircraft of a similar capacity. The funding will support technology development, manufacture of the Demonstrator Jet1 aircraft, expansion of JetZero’s US manufacturing and testing facilities in Greensboro, North Carolina, and working capital for its US operations.
Tom O’Leary, JetZero CEO and co-founder commented: “Through this facility, we will fund tooling and production facilities in North Carolina, advancing aerospace innovation and reindustrializing America. Not only has the time come to reshape aviation, but the Z4 will lead the way.” The Z4 is expected to enter service in the early 2030s.
The group of lenders includes Pinegrove Credit Partners, backed by Brookfield and HRTG Partners, alongside Silicon Valley Bank, a division of First-Citizens Bank.
“JetZero is moving from demonstration to production, and that transition is where capital structure matters most,” added Craig Caukin, Partner at Pinegrove. “We structured this facility around the program’s real milestones. Together with our limited partners, we will be looking to expand the capacity of this facility when the opportunity presents itself.”
JetZero is continuing to build Jet1, its full-scale demonstrator aircraft, in partnership with Scaled Composites, a Northrop Grumman company. Construction was 40% complete as of June 2026, with the maiden flight planned for the fourth quarter of 2027. In June 2026, JetZero broke ground on Factory1, its Z4 production facility in North Carolina, where it plans to create more than 14,000 jobs over the next decade.
