On a wing and a prayer: St Baker gives flying car concept a $5m lift

Entrepreneur Trevor St Baker’s energy investment fund has thrown $5 million into a $23 million capital raising for the development of a flying car that could be operating by 2025.

John McCarthy

Sep 07, 2022, updated Sep 07, 2022

AMSL Aero founders Andrew Moore and Siobahn Lyndon

The project, by AMSL Aero, is developing a vertical take-off and landing vehicle dubbed Vertiia and recently brought in St Baker’s fund along with Telstra Super, HostPlus and IP Group.

It adds to a serious push in Brisbane to develop the flying car concept in time for the 2032 Olympics. The Queensland Council Of Mayors has tabled a deal with Wisk Aero to have the vehicles transporting athletes, locals and spectators ahead of the Olympic Games.

AMSL is also part of the Brisbane consortium, Greenbird, to develop the industry.

But AMSL has a much shorter timeframe and believes it can have accreditation by 2025-26 with both Careflight and the Australian Army seriously considering the flying car concept for rescues and evacuations.

St Baker Energy Investment Fund chief executive Rodger Whitby said the Sydney-based AMSL Aero had demonstrated extraordinary progress in developing the project.

“Whilst operating in a competitive space, AMSL Aero has a clear pathway to market which does not rely heavily on yet to be proven technological advancements.”

It was the fund’s first investment in the aerospace sector. It also holds stakes in battery materials producer Novonix and battery fast charging company Tritium.

The Vertiia will run on a hydrogen fuel cell giving it the potential to be emission free.

The aircraft has a designed cruising speed of 300kp/h and has a goal of exceeding 1000km non-stop.

AMSL Aero co-founder Andrew Moore said once it had certification the Vertiia could go anywhere a helicopter went at a cheaper cost.

He said the $23 million raised would go towards the certification and testing program.

Topics: flying car, Investment, technology

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