Bristow Group Inc. (NYSE: VTOL), one of the Houston's largest helicopter transportation companies, unveiled plans to develop a fleet of hybrid-electric aircraft and expand its logistics operations.
Bristow Group and Electra.aero Inc., a Virginia-based developer of clean aviation technology, signed an agreement to cooperate on the technical development, certification, marketing and future operations of Electra's hybrid-electric aircraft, the firms announced Aug. 26. Through the partnership, Bristow and Electra expect to produce 50 hybrid-electric, short-takeoff and -landing aircraft.
Bristow plans to explore new markets for operations through the partnership, including using the Electra aircraft for "middle mile" retail distribution logistics, the company said.
"Just as Bristow pioneered the vertical transportation market some 70-plus years ago, this [memorandum of understanding] sets the stage for early collaboration and development between Bristow and Electra for a new class of aircraft that will allow us to take advantage of the unique capabilities of electric and hybrid power generation technologies to substantially lower carbon emissions and operating costs," said Chris Bradshaw, president and CEO of Bristow Group.
The Electra hybrid-electric aircraft can operate from small runways — as small as 300 feet by 100 feet — and is designed to transport a cargo load of up to 1,800 pounds. The aircraft could also carry five to seven passengers on trips of between 400 and 500 miles, the company said.
Electra was founded in 2020. The company expects certification for its commercial aircraft to be granted by 2026.
"As our principal launch operational customer, Bristow will benefit from early access to Electra's aircraft, which will deliver more than twice the payload, fly longer ranges, and have substantially lower operating costs than vertical take-off alternatives — with much less certification risk," said John Langford, founder and CEO of Electra.aero.
Bristow had been eyeing a jump into more consumer-facing business segments in recent months. With a fleet of approximately 240 aircraft, Bristow has historically made a significant portion of its revenue flying helicopters for the oil and gas industry. In April, Bradshaw told the Houston Business Journal that the company aimed to expand its services in the advanced air mobility sector.
The expansion of Bristow's business into new segments was prompted by a number of factors, Bradshaw said, including the global shift in focus toward the energy transition and reducing carbon dioxide emissions. Recent turbulence in the offshore oil and gas industry also contributed to some of the expansion efforts.
Bradshaw was formerly president and CEO of Houston-based helicopter company Era Group, which announced plans to merge with Bristow Group in January 2020. Bradshaw retained his leadership roles for the combined company when the merger closed in June 2020.
