Vertical Aerospace is a UK-based aerospace company developing an eVTOL (electric vertical takeoff and landing) aircraft called Valo for the advanced air mobility market. Valo is a winged, tilt-rotor aircraft designed to carry a pilot and up to four passengers (scalable to six), travel up to 100 miles at 150 mph cruise speed, with zero operating emissions. Vertical is also developing a hybrid-electric variant using a gas turbine alongside the battery system, extending range to over 1,000 miles and broadening the aircraft's use to defense, cargo, and air ambulance missions — all within the same airframe. The company is pre-revenue and entirely focused on designing, certifying, and eventually manufacturing Valo. Vertical is pursuing type certification from the UK CAA and EASA, targeting approval in 2028, with FAA and other jurisdictions expected to follow. Vertical's business model has two primary revenue streams: direct aircraft sales to operators such as airlines, lessors, and helicopter operators, and a recurring Battery-as-a-Service model where operators return to Vertical for proprietary replacement batteries one to two times per year. Management targets gross margins above 40% on battery revenue and projects batteries will represent roughly half of total revenue over time. Vertical acts as an asset-light integrator, sourcing components from Tier 1 suppliers and performing final assembly in-house. The company holds conditional pre-orders from American Airlines, Avolon, Marubeni, and others, though all remain non-binding until certification is achieved.