Bye Aerospace, Inc., the developer of the “Sun Flyer” family of electric aircraft, has announced the completion of a major investment by the SUBARU-SBI Innovation Fund.

Bye Aerospace is an aerospace engineering company that designs and builds advanced electric aircraft for the general aviation and aerospace/defense markets. The investment, which closed on November 6, 2018, will be used to advance the FAA certification process for the Sun Flyer 2 electric plane. The Sun Flyer 2 is expected to be the first electric aircraft certified by the FAA.

George E. Bye, Founder and CEO of Bye Aerospace, expressed his gratitude for the investment. “On behalf of our team, my sincere thanks to the SUBARU-SBI Innovation Fund for their vision, their passion for our industry and their belief in electric propulsion,” he said. “This is Bye Aerospace’s largest individual investment to date.”

Itaru Ueda, Manager of the SUBARU-SBI Innovation Fund, said, “We believe Sun Flyer 2 will be the first electric airplane to receive FAR Part 23 type certification. Electric aircraft are receiving lots of attention, and we expect the future of small electric airplanes to be led by Bye Aerospace.”