Pinegrove Credit Partners and Silicon Valley Bank are providing the aerospace company with a term loan facility to support its Jet1 demonstrator and US manufacturing buildout.
JetZero has closed a senior secured term loan facility of up to $100 million as the US aerospace company advances development of its blended-wing-body aircraft program.
The lender group includes Pinegrove Credit Partners, backed by Brookfield and HRTG Partners, alongside Silicon Valley Bank, a division of First Citizens Bank. JetZero announced the financing on August 31, 2026. The company did not disclose the facility’s interest rate, maturity, amount drawn at closing or other detailed lending terms.
JetZero said it plans to use the financing to accelerate technology maturation, manufacture its full-scale Jet1 demonstrator, continue the buildout of manufacturing and test infrastructure in Greensboro, North Carolina, and provide growth and working capital for its US operations.
The company broke ground on Factory1, its planned Z4 manufacturing and final assembly facility in Greensboro, in June 2026. JetZero’s current operating headquarters remains in Long Beach, California, while the company is developing its future headquarters and production presence in North Carolina.
Jet1 is being constructed with Scaled Composites, a Northrop Grumman company, in Mojave, California. JetZero said the demonstrator was about 40% complete as of June 2026 and is targeting its first flight for the fourth quarter of 2027. Aviation Week separately reported the same development timeline.
JetZero is developing the Z4 for what it describes as the middle segment of the commercial aircraft market, targeting capacity of about 250 passengers and range of up to 5,000 nautical miles. The company says the all-wing configuration is designed to reduce fuel burn and associated emissions by up to 50% compared with conventional tube-and-wing aircraft at equivalent passenger capacity. That performance remains a company design claim ahead of full-scale flight testing and certification.
The company expects the Z4 to enter service in the early 2030s. The new debt facility follows an approximately $175 million Series B financing announced in January 2026 and led by B Capital, with participation from United Airlines Ventures, Northrop Grumman, 3M Ventures, Trucks VC, Marlinspike, Aero X Ventures and RTX Ventures, among others.
JetZero is also exploring a separate financing package with the Export-Import Bank of the United States. The two parties signed a letter of interest in July to evaluate up to $3 billion in potential support for the Greensboro manufacturing campus. JetZero explicitly said that letter is not a financing commitment and remains subject to underwriting, due diligence and approval processes.
