Photo courtesy of Beta Technologies
The funding will take Beta from the test aircraft it flies now through the construction of a factory and the first deliveries to the U.S. Air Force in 2023, said Kyle Clark, founder and chief executive officer. Fidelity offered to fund the entire round, but the amount was increased to add investors, including Amazon’s Climate Pledge Fund, which seeks startups that can help the internet retailer reach net-zero carbon emissions by 2040, he said.
“We were way over-subscribed and ended up having a super-strategic and valuable investor set in our first institutional round of funding,” Clark said in an interview. “We were fortunate to have customers early on and have the internal funding to make it this far, which puts us in a wonderful position to maintain a focused path toward commercialization.”
Operator
Good morning, and welcome to the United Therapeutics Corporation First Quarter 2021 Earnings Call. My name is Phyllis, and I will be your conference operator today. [Operator Instructions]
I will now turn the conference call over to Mr. Dewey Steadman, Head of Investor Relations at the United Therapeutics.
Dewey Steadman
Head of Investor Relations
Good morning. It s my pleasure to welcome you to the United Therapeutics Corporation First Quarter 2021 Earnings Call. Accompanying me on today s call are Dr. Martine Rothblatt, our Chairperson and Chief Executive Officer; Mr. Michael Benkowitz, our President and Chief Operating Officer; Mr. James Edgemond, our Chief Financial Officer and Treasurer; and Dr. Leigh Peterson, our Senior Vice President of Product Development. Remarks today will include forward-looking statements representing our expectations or beliefs regarding future events. These statements involve risks and uncertainties that may cause actual results to dif
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