Faradair Aerospace Limited was formed in September 2014
The company was officially launched to the public in November 2014 yet it was an idea and promise that had been made some 25 years ago. As a 16 year old, Neil Cloughley did not have any idea about Faradair Aerospace Limited, but he did see his father build a new unmanned air vehicle (UAV) company in the mid 1980’s, which was sadly before its time.
So a promise was made then and after 12 years in the commercial aerospace sector and some 25 years later, Neil formed Faradair with a vision to create a new type of hybrid aircraft, with intention to finish the work started by his father.
But this is not just a personal family story, this is also about the ability to form a company that tackles two of the biggest problems faced by aviation today – noise and emissions. It is also about a market opportunity that has been forgotten, primarily due to these two problems and also ‘costs’. The 50 seat regional jet has not been a successful model of local air transport and the value of prime airport landing and take off slots, is resulting in an ever greater need to pack more people into every slot.
As international travel increases, the pressure on main airports increases and slowly we will have to transition our regional air transport to smaller airfields, requiring aircraft that are quiet, economical to operate and low emissions capable. This experience from within the commercial aircraft sector, prompted Neil to form Faradair and begin that transition to a viable regional air transport competitor to road and rail.
As with any startup, the path is difficult and reliant on family and friends to pull the structure together. However Faradair is unlike many startups in the sense that it has established it’s foundations properly, enlisting the help and fantastic service of law firm Veale Wasbrough Vizards in Bristol. Protection of IP, registration of Trademark and partner agreements that all provide a solid base from which the company operates, Faradair is better prepared than many new companies to face the market and to attract investors.
By the end of 2015, the company had attracted its first Angel Investors and by early 2016, the company was nominated for ‘New Business of the Year 2016’ by Cirencester Chamber of Commerce, which it duly won. Faradair Aerospace Limited has established a fantastic set of global brand partners, completing the initial phase of growth and development.
The company is now focused on phase two of its development programme, focused on the hybrid propulsion system development and in 2018 it will begin phase three of the development programme, building the first BEHA prototype aircraft.
Faradair has presented at numerous conferences in 2015 and is set to continue its development as one of the UK’s most exciting and innovative new aircraft development programmes throughout 2016 into 2017.