Electric airplane maker Beta Technologies files for IPO

Founded in 2018, Beta has so far developed one electric-powered airplane, dubbed Alia, that can take off on a conventional runway or lift off vertically like a helicopter. The plane has a maximum range of more than 300 miles.

The Alia, which can carry four passengers or about 200 cubic feet of cargo, is going through a lengthy certification process with the Federal Aviation Administration, so it could be several years before the aircraft starts making commercial flights.

The company showed off Alia to the public at two events in June, flying in an “aerial ballet” demonstration at the opening of the Paris air show and landing the first all-electric passenger flight at John F. Kennedy Airport in New York. (The flight was permitted under a preliminary FAA allowance for demonstrations.)

Beta founder and chief executive Kyle Clark, in a letter to investors included in the filing, said he had thought of building electric aircraft since he wrote his college thesis at Harvard about the idea more than 25 years ago.

“The technical art of designing, building and testing flying machines is an unforgiving pursuit of excellence,” Clark wrote in the letter. “Launching Beta as a public company, I look forward to sharing with you the awesome potential electrifying aviation has in transforming an industry and aspects of the economy and society.”

Clark and other Beta executives declined to be interviewed on Monday.

Although Beta has raised more than $1 billion from private investors, its revenue for the first half of 2025 totaled less than $16 million against operating expenses of $170 million, according to the filing.

Once it attains FAA certification, Beta said it has 174 firm orders and options to purchase almost 500 more aircraft from commercial buyers including UPS and Air New Zealand at a price of about $4 million each. The company said it also aims to sell its aircraft to military customers.

To support the electric-powered flyers, Beta is also building a network of airplane charging stations at dozens of airports around the country, including in Marshfield. Beta revealed in the IPO filing that it is developing a larger aircraft that can carry up to 19 passengers, but did not give a timeline for completion.

The company plans to trade under the ticker symbol “BETA” on the New York Stock Exchange. Beta didn’t disclose in its initial filing the number of shares it plans to sell or an expected price range per share for the IPO.

Earlier this month, Beta announced a deal with GE Aerospace to develop hybrid propulsion systems powered by batteries and conventional fuel. One product could be a long-range hybrid aircraft capable of taking off and landing vertically, suitable for military missions.

The skies have become crowded with electric aviation pioneers over the past decade. Beta’s competitors include California-based Archer Aviation, Wisk Aero, backed by Google co-founder Larry Page, and Joby Aviation, which went public one year ago. And in Europe, startups Volocopter and Vertical Aerospace are also developing electric aircraft.

Aaron Pressman can be reached at aaron.pressman@globe.com. Follow him @ampressman.