Rolls Royce

The British multinational engineering firm’s interest has increased to 73.1%

The composite technology hub will manufacture fan blades and fan cases that are expected to significantly reduce weight in a jet engine, lowering both fuel consumption and emissions

The firm says it will now begin integrating the electrical propulsion system to enable the zero-emissions plane to reach a target speed of more than 300mph next spring

Rolls-Royce and Robert Allan say the new design produces less pollutants than vessels with conventional propulsion systems

The deal is subject to regulatory approvals

The project aims to develop an electrical aircraft concept to replace Widerøe’s regional fleet of more than 30 planes by 2030

The government is proposing to use the Regulated Asset Base (RAB) financing model, which would allow developers to charge customers in advance through their existing bills

The deal is expected to be completed towards the end of 2019 following employee consultation

They will work together on developing solutions that integrates digital technology and efficient hybrid power systems.

It is understood the proposed sale would not include its work on the Hinkley Point C project in the UK