Fuyo Lease Group announces investment in Bye Aerospace

Fuyo General Lease Co., Ltd. has undertaken a third-party allocation of new shares in Bye Aerospace Inc. (Colorado, USA), a developer of small electric aircraft; and has entered into a capital alliance to support its business.

Amid global demand for measures to combat climate change, the aviation industry is also making efforts to achieve decarbonization, such as the International Air Transport Association (IATA) adopting a target of zero greenhouse gas emissions by 2050 and through other developments like electric aircraft, hydrogen powered aircraft and the spread of sustainable aviation fuels (SAF) are also accelerating.

Bye Aerospace is working to develop and manufacture small electric aircraft, the "eFlyer" series, that can achieve zero emissions, training for new pilots and inter-regional air passenger and cargo transport at significantly lower costs.

The global electrification of small aircraft, of which there are approximately 130,000 one-engine piston aircraft in operation in the U.S. alone (as of the end of 2019), is expected to reduce CO2 emissions by the equivalent of 135 million tons per year (based on Bye Aerospace's estimations); (equal to about 10% of Japan's CO2 emissions in fiscal 2019).

Fuyo Lease Group has identified "aircraft" as one of its strategic fields in its medium-term management plan "Frontier Expansion 2021". Through our investment in Bye Aerospace, we will work to expand the aviation business field by grasping the trends of global innovation in zero-emission technologies and contribute to decarbonization of aviation.

The Fuyo Lease Group is dedicated to helping build a more sustainable society by implementing the concept of Creating Shared Value (CSV), which aims to grow as a company while proactively addressing social issues.

Related Links
Bye Aerospace

Aerospace News at SpaceMart.com

Tweet

Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Monthly Supporter
$5+ Billed Monthly

paypal only

SpaceDaily Contributor
$5 Billed Once

credit card or paypal

Three-year 'exit ban' lifted for Irish man stuck in China
London (AFP) Jan 28, 2022
An Irish businessman who was stuck in China for nearly three years can now return home, after travel restrictions were lifted, the government in Dublin said on Friday. Richard O'Halloran has been unable to leave Shanghai because of a legal dispute involving the Chinese owner of his employer. Foreign minister Simon Coveney said O'Halloran would be heading back to Ireland "shortly" after the authorities removed the so-called "exit ban". "This has been a difficult time for Mr O'Halloran and his ... read more