MONTE and Ampaire Announce Preferred Partner Relationship and Order for 50 Hybrid-Electric Caravans
MONTE is delighted to announce that it has signed an agreement with Ampaire, a leader in hybrid-electric aviation, to form a Preferred Partner relationship and to acquire 50 Eco Caravans, Ampaire’s hybrid-electric upgrade of the Cessna Grand Caravan.
MONTE’s order comprises a firm commitment for 25 Eco Caravans and an option over another 25 Eco Caravans. As a part of this agreement, MONTE and Ampaire have also agreed a Preferred Partner relationship, whereby MONTE will become Ampaire’s preferred Eco Caravan financing partner and Ampaire will become MONTE’s electric-hybrid Caravan provider.
Ampaire’s Eco Caravan can reduce fuel and emissions as much as 70 percent on shorter trips and 50 percent on longer ones, while preserving payload capability and extending range. When flown on sustainable aviation fuel, it is effectively carbon neutral. The Eco Caravan’s operating cost is 25 to 40 percent lower than the Cessna Grand Caravan depending on the type of missions flown. The aircraft can recharge its batteries in flight, meaning it can use any airport that Caravans fly from today, regardless of ground charging capability.
Timothy Eyre, Investment Director, MONTE said: “MONTE is looking to build a fleet of low emission and zero emission aircraft to lease or finance for regional aircraft operators worldwide. Ampaire has emerged as the leading hybrid-electric technology provider and its Eco Caravan will be very attractive for a segment of our operators. We are excited to have signed another key technology partnership and are looking forward to working with the Ampaire team to finance the Eco Caravan.”
Kevin Noertker, CEO, Ampaire said: “The Eco Caravan is our starting point for a revolution in air travel. It brings cost per available seat mile down to the range of driving, benefiting operators and their passengers. It dramatically shrinks the aircraft’s carbon footprint. The propulsion technology is scalable and we intend to quickly move toward larger regional aircraft and even the single-aisle jet market over time.”
About MONTE
MONTE is a pioneer in financing low emission and zero emission technologies in the regional aviation market. MONTE is exclusively focused on supporting the aviation industry’s transition to net zero carbon emissions by providing financing and leasing solutions for low and zero emission technologies to regional aircraft operators. MONTE has a goal of becoming the first carbon neutral aircraft leasing company in the world by 2027.
About Ampaire
Los Angeles-based Ampaire was formed in 2016 with a mission to become the world’s most-trusted developer of practical, compelling electric aircraft. The company is upgrading existing passenger aircraft to hybrid electric power–the quickest, most capital efficient approach to making commercial electric air travel a reality with available technology. Ampaire has scored a series of industry firsts since the 2019 maiden flight of its Electric EEL technology testbed aircraft, including the longest flight for a hybrid electric aircraft - 1,135 statute miles en-route from Los Angeles to Oshkosh, Wisconsin. For more information about Ampaire, https://www.ampaire.com/.