Private Electric Jets in Utah

UT – As co-founder and managing partner of Valkyrie Group, a Park City-based venture capital investment firm, Chad Swensen invested $10 million of Series A funding in the electric jet company Panhwar Jet in August 2020. Now based in Heber, Utah, Panhwar aims to break new ground in electric aviation, disrupting an industry ripe with opportunities for innovation.  Now with Sweeney’s investment Panhwar is developing a prototype of the ElectroBird which is a self-charging private jet that runs entirely on electricity.

Panhwar Jet’s goal is simple: fly faster and longer using entirely electric power. Their goal is to have their aircraft fly more than 2,000 miles with top speeds of 350-400 miles per hour. The company is aiming to achieve this through zero emissions as there is innovation throughout the entire aircraft. They plan to scale back the dependence on the batteries themselves as the extra weight degrades the efficiencies and capabilities of electric aircraft.

Panwhar is focused on reducing the costs for the consumer as they estimate the operating costs to be $100 to $150 per hour for their aircraft. The current prototype does not have AI technology; instead, they are focused on demonstrating the electric power’s capabilities.

 600 people are already on the waiting list. The company was founded in California and Utah is becoming its home base. The state has promised the company over $5 million in incentives once the jet starts flying. Panwhar had a warehouse facility in Park City and a hangar at the Heber Airport.

Panwhar hopes to complete the ElectroBird by the end of October and plans for a first flight at the beginning of November.