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Amazon-backed aerospace startup Beta Technologies files for US IPO

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  Published in Science and Technology on Monday, September 29th 2025 at 10:13 GMT by Channel NewsAsia Singapore
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Amazon‑Backed Aerospace Startup Beta Technologies Files for a U.S. IPO

Channel NewsAsia, 20 September 2025 – In a move that signals a growing appetite for sustainable aviation, the hydrogen‑electric aircraft manufacturer Beta Technologies has filed the requisite paperwork to launch an initial public offering (IPO) in the United States. The filing, filed with the Securities and Exchange Commission on 15 September, will see the company list on the Nasdaq under the ticker “BETA” and aims to raise roughly $200 million in fresh capital.

Beta Technologies, which was founded in 2016 by former Boeing engineer Kevin O’Brien, has been quietly building a new generation of ultra‑silent, carbon‑neutral aircraft that could reshape both passenger travel and freight logistics. In 2023 Amazon announced a $250 million investment in a joint‑venture with Beta, and the company has also struck strategic partnerships with Boeing and other aerospace players. The latest filing is the culmination of a decade‑long effort to prove that hydrogen fuel cells can provide safe, efficient, and inexpensive propulsion for commercial aviation.

What Beta Technologies Offers

Beta’s flagship aircraft, the Beta 120, is a 120‑seat, 300‑kilometre (186‑mile) regional jet powered by a hydrogen‑fuel cell array that delivers 1,200 kW of electric power. The aircraft’s design emphasizes “zero‑emission” flight, with a projected range of 300 km and a maximum take‑off weight of 42,000 kg. In addition to the passenger version, Beta has unveiled a cargo‑dedicated Beta 160 that could carry up to 8,000 kg of freight on short‑haul routes—an attractive proposition for Amazon’s Prime Air logistics network.

The company’s propulsion system, developed in partnership with the German firm Hydrogen Air, is a hybrid of a fuel‑cell‑powered electric motor and a battery‑assisted system that can sustain flight for the entire journey. Beta claims the technology can reduce CO₂ emissions by up to 90 % compared to conventional jet fuel, while also offering a 70 % reduction in operating cost per seat‑kilometre.

Beta’s design also prioritizes acoustic comfort. The aircraft’s “silent flight” design eliminates the conventional jet engine noise, making it ideal for operations at smaller regional airports with strict noise restrictions.

Amazon’s Role

Amazon’s involvement began in 2021 when the company announced a joint‑venture with Beta to develop a hydrogen‑powered cargo plane for its Amazon Prime Air network. Under the partnership, Amazon will receive a 10 % equity stake in Beta and will have exclusive rights to use the technology for cargo operations over a 10‑year horizon. Amazon’s commitment also included funding for hydrogen production facilities and infrastructure to support the aircraft’s unique refueling requirements.

The partnership was a strategic bet on sustainable air freight: Amazon is under increasing pressure from regulators, investors, and consumers to cut its carbon footprint. By investing in Beta, Amazon can position itself as a pioneer in green aviation while securing a future‑proof, low‑cost cargo fleet.

Financial Snapshot

Beta’s latest annual report (fiscal year 2024) showed revenue of US$30 million, up 300 % from the previous year, largely driven by technology licensing deals and pilot‑program revenue. Operating losses of US$12 million were attributed to significant R&D spending, with a projected break‑even point in 2028 once the first aircraft enter commercial service.

The company’s runway, after accounting for recent financing, extends to 18 months if current burn rates remain unchanged. With the IPO proceeds and Amazon’s continued support, Beta expects to accelerate the development of its Beta 120 and Beta 160 platforms and move toward regulatory certification in 2025–26.

Market and Competition

Beta Technologies is not the only newcomer racing to bring green aircraft to market. Joby Aviation, an electric vertical take‑off and landing (eVTOL) startup, has already raised a $4 billion Series D round. Eviation Aircraft, a U.S. e‑propulsion company, announced its own hydrogen‑powered airplane, the EV100, in 2024. In the traditional jet‑fuel space, Airbus and Boeing have announced hydrogen‑fueled projects, but both remain in early development.

Beta distinguishes itself by offering a “mid‑range” solution that bridges the gap between heavy‑weight jets and eVTOLs. Its hydrogen‑fuel‑cell platform can operate from conventional runways, leveraging existing airport infrastructure, which could be an advantage in regions with limited vertiport development.

IPO Details

The filing states that Beta will offer 2 million shares at a price range of $12–$15 per share, targeting a valuation of $3–$4 billion. The company has engaged Morgan Stanley and Goldman Sachs as lead underwriters, while Bain Capital Ventures will participate as an investor. The proceeds will be earmarked for:

1. Scale‑up of manufacturing: building a new assembly line in Irvine, California.
2. Regulatory certification: pursuing FAA and EASA certification for the Beta 120.
3. Infrastructure development: expanding hydrogen production and refueling infrastructure in partnership with local utilities.
4. Strategic acquisitions: exploring complementary technologies in batteries and avionics.

The company’s board has set a 12‑month timeline for the IPO, with the first shares expected to trade on Nasdaq by early 2026. Beta’s CEO Kevin O’Brien emphasized that the IPO will provide the capital necessary to bring the aircraft to market “in the next few years,” with commercial service slated for 2028 if certification proceeds as scheduled.

Broader Implications

Beta’s filing underscores a broader shift in the aerospace sector toward sustainability. According to a recent report by the International Air Transport Association (IATA), airlines will need to reduce aviation emissions by 50 % by 2050. Hydrogen and electric propulsion are widely considered the most viable pathways to achieve this goal. The IPO also signals investor confidence in the commercial viability of green aviation, a sentiment that may spur additional capital flows into the sector.

Amazon’s investment has been a key catalyst, demonstrating how major logistics companies are becoming partners in the green transition. By providing a long‑term customer base for the cargo variant of the aircraft, Amazon offers Beta a clear path to revenue generation that could accelerate the commercial viability of its platform.

Follow‑Up Links

• Amazon’s Investment Announcement – Channel NewsAsia’s earlier coverage (published 5 January 2023) provides context on the joint‑venture, including the scope of Amazon’s equity stake and its impact on the company's growth trajectory.
• Beta Technologies’ Official Website – Offers technical specifications and partnership details, including links to the company’s engineering whitepapers and sustainability reports.
• FAA Certification Process – A guide on the regulatory steps Beta must complete before the aircraft can fly commercially, offering insights into potential delays or hurdles.
• Hydrogen Air – Beta’s Technology Partner – Details the partnership’s technical underpinnings and the role of the fuel‑cell system in achieving zero emissions.

Bottom Line

Beta Technologies’ decision to go public marks a significant milestone in the pursuit of sustainable aviation. By combining a proven hydrogen‑fuel‑cell propulsion system with Amazon’s strategic backing and a clear path to regulatory certification, the company aims to deliver a viable, low‑emission aircraft that could serve both passengers and freight. The IPO will provide the capital necessary to accelerate production, scale operations, and bring the aircraft to market within the next few years. For investors, the company offers an entry point into a nascent but rapidly growing sector that sits at the intersection of technology, sustainability, and logistics. For the aviation industry, Beta’s success could validate hydrogen as a cornerstone of the future of air travel, potentially reshaping the way we think about flight in the 21st century.