Blow to county’s green aviation dreams
It was a major investment, but Gloucestershire entrepreneur Dale Vince has pulled the plug on a pioneering green aviation business, dealing a financial blow to another county-based eco-flight pioneer.
Dear readers,
A shorter edition today, as yours truly is off for a few days this week.
The main story below resulted from some research we were doing into one of Gloucestershire’s biggest businesses, a group of companies that generates more than half a billion pounds a year.
All of those businesses started here in the county, and all thriving. We say that because the story below shows that even with that Midas touch it doesn’t go right for you all the time.
The unfortunate knock-on effect of the collapse of the company in question looks like it will cause a major blow to another green aviation pioneer, also based in Gloucestershire.
We’ve had to skip the usual diary dates and business briefing notes, I’m afraid. But we did find time to showcase a story about an exciting partnership between a number of organisations in the county determined to make what is already a great place to live even better!
Have a great week.
Best regards,
Andrew Merrell (editor).
Charity of the week: The Summerfield Charitable Trust
A major initiative to support older people across the Cotswolds has been launched following a £1 million investment from the Summerfield Charitable Trust. Age-Friendly Cotswolds is a three-year initiative designed to improve the quality of life for older people and create lasting, community-led change.
It brings together local voluntary sector organisations to work alongside older people to strengthen their connection, wellbeing and influence across towns and rural communities.
David Owen, chairman of Trustees at The Summerfield Trust, said: “We’re really pleased to have worked with Gloucestershire VCSE Alliance to develop this initiative and with Age UK Gloucestershire, The Churn Project, Tetbury Area Youth & Community Trust and Cotswold Friends to deliver it.
“The Age Friendly Cotswolds initiative reflects a shared commitment to listening to local voices and shaping environments where everyone can live well as they age.
The initiative will focus on four priority themes: health and wellbeing, social and civic participation, empowerment and resilience, and impact and influence.
Sarah Bourne, chief executive officer, for The Churn, said: “The Initiative recognises older people as a strength within our communities and supports them to remain active, involved and influential in shaping local life.”
Matt Lennard, CEO at VCSE Alliance, said: “We are confident that these partners will make a genuine difference to people’s lives.
“Our older population deserves to be celebrated, and this work reinforces the reality that older people are vital assets to our communities.”
Read the full press release here in our PR Wire channel.
Future thinking…
Probably Gloucestershire’s biggest catalyst when it comes to apprenticeship training, an organisation that knows it all, helps companies train staff from all manner of sectors and tailor training to suit, has a specialist team on hand to help make everyone’s journey as easy as possible, is due to stage a special opening evening.
Gloucestershire College is due to stage a special Apprenticeship Open Evening on Wednesday 25 February 2026 from 5pm to 8pm at its Gloucester Campus in Llanthony Road. It’s free to attend.
Many of Gloucestershire’s best employers, big and small, will be on hand to chat to anyone who wants to know more and there are still spaces for other businesses to join - for free.
Programmes at the college cover everything from construction, professional services, engineering, dental, catering, teaching and hairdressing to cyber security and computing. Apprenticeships range from entry-level to Level 6 degree (equal to a university degree). More here.
* The Raikes Journal is a community interest company. Everything you read by us is made possible by our incredible Founding Partners: QuoLux, Willans LLP, Gloucestershire College, Merrell People and Randall & Payne, our sponsors, our Founding Members and wonderful paying subscribers.
If you upgrade to become a paid subscriber you’ll be part of this CIC too. You’ll help make us sustainable, be able to see past the paywalls, comment on our stories, and know you’re making possible the county’s only editorially-led platform dedicated to delivering quality journalism for Gloucestershire about its businesses, charities, education and training sectors.
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Big blow to county’s green aviation dreams
It was a major investment, but Gloucestershire entrepreneur Dale Vince has pulled the plug on a pioneering green aviation business, dealing a financial blow to another county-based eco-flight pioneer.
As we researched a story on the rise and rise of Green Britain Group yesterday, the Gloucestershire business empire built by energy tycoon Dale Vince, we purposely overlooked a piece of news of interest to anyone interested in aviation.
In the public accounts the group made a point of underlining its purchase of a controlling share in Scottish business Ecojet Airlines Ltd in October 2024.
“The airline aims to revolutionise air travel by deploying hydrogen-electric propulsion technology to eliminate carbon emissions from flights.
“The directors hope that an equity financing round will allow the company to meet the capital requirements of obtaining an Air Operating Certificate from the UK Civil Aviation Authority,” said the report.
At least that was its hope, when the accounts for the year ending 30 April 2025 were signed off - before being published on 2 February 2026.
But the statement overlapped with news that the ambitious young Scottish-based business Ecojet was actually in trouble, and in the last few days it has emerged that the firm has filed for liquidation.
An attempt to secure more funding from investors is thought to have failed.
It’s news that not only scuppers Vince’s hopes, and those of everyone who worked for the company, but also a potentially lucrative deal with Ecojet and a Gloucestershire business making great strides in making ‘green aviation’ a reality.
Ecojet had signed a deal with Cotswold Airport-based ZeroAvia, an aviation firm backed by Microsoft’s Bill Gates, no less, to buy up to 70 engines from the Kemble-based business.
Raikes has been unable to determine just how much that deal was worth, but “potentially lucrative” just about sums it up.
Despite the drastic measures when it comes to Ecojet, Vince told Flight Global.com he was still convinced in the future of a greener future for aviation.
“We remain committed to electrifying all forms of transport – aviation is the last frontier and the hardest.
“It’s taking longer than we hoped to get the technology and regulatory pieces of the puzzle in alignment, and so we’re pausing work at this time.
“This is a vital frontier in the move to net zero, green living, whatever you choose to call it - and it’s absolutely doable.
“It’s a matter of when not if,” said Vince, whose Ecotricity Group received 17,000 shares in Ecojet in October 2024 in return for an investment of a little over £1 million.
Ecotricity’s most recent accounts also show that someone at the company, which has built its name on the supply of green energy, still really loves aviation.
The company declared nearly 46,000 miles of air travel last year - an increase on the previous year. The equivalent to six tonnes of CO2.
When it was first unveiled, Ecojet pledged to begin operating domestic routes from Edinburgh by early 2024 using a small fleet of turboprop planes, expected to be De Havilland Canada DHC-6 Twin Otters.
It planned to switch to larger 70-seater planes for longer routes as it established itself, but that strategy changed with the business announcing it would instead be using a small fleet of ATR 72-600s.
Planes were expected to operate using sustainable aviation fuel and later convert to zero-emission hydrogen cell powertrains.
That’s where Gloucestershire-based ZeroAvia comes in. Ecojet had signed a deal for up to 70 of its hydrogen-electric engines.
Ecojet’s liquidation comes as something of a surprise for those closely watching the firm, which declared in its last published accounts for the 12 months to 31 August 2024 - and approved by its board in 14 August last year - that “operational funding and support” from its shareholders was “expected to continue for a period of at least one year after the date of signing the financial statement.
Provisional liquidators Paul Dounis and Mark Harper from insolvency firm Opus appointed to the firm on 14 January “following a voluntary liquidation initiated by the company’s board”, Opus says.
“Ecojet was a start-up business and has no material assets. The members have elected to fund the liquidation process to ensure that the company’s employees receive their full statutory entitlements,” it adds.
Raikes has contacted ZeroAvia for comment, but had heard nothing back at the time of publication.
A posting on its website just before Christmas announced it had completed a further round of financing, led by Barclays Climate Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, Summa Equity, and AP Ventures, with participation from the National Wealth Fund and the Scottish National Investment Bank.
“With additional investment secured, ZeroAvia has extended its cash runway for the next two years and will continue to fully industrialise its hydrogen power and propulsion technology for the aviation and defence markets,” said the statement.
And just before that, in November, it declared its application to the Innovation Fund for a €21.4m grant to support the introduction of hydrogen-electric aircraft in Norway had been selected for grant agreement preparation.
The project will support the retrofit of 15 Cessna Caravan aircraft with ZeroAvia’s ZA600 hydrogen-electric engines and the establishment of the supporting airport hydrogen fuel technologies, with operations planned to commence in 2028.