I traveled to Toulouse, France with our partner Andrew Sather to attend Beyond Aero’s board meeting last month.

Beyond Aero is the first electric business aircraft using hydrogen propulsion to reach more than 800 nautical miles. Initialized welcomed the company to our portfolio in 2023.

Building and commercializing a hydrogen-electric aircraft requires an extreme amount of detailed execution, requiring a team that is able to balance the technical know-how of aerospace with the elegance of a customer-facing luxury brand. When we first met Eloa Guillotin during her seed round, it was clear she was an outlier in her ability to see through walls that have prevented significant innovation in this industry.

Our visit to Toulouse was our first board meeting after Eloa closed her Series A fundraise, and from the moment we arrived in Toulouse, it was clear that the spirit of Beyond Aero exists because of the team’s unbounded belief that they can pull off what has never been done in business aviation.

Hydrogen Infrastructure in Action

Visiting a portfolio company always provides an opportunity to reconnect with the heart of why we invest in certain businesses. The care Eloa, Val and Hugo have for their team was clear the moment they personally picked us up from the airport in their cars, a simple gesture that set the tone for the day.

Our first stop was a visit to a hydrogen station. We discussed the intricacies of the green hydrogen infrastructure that will be needed to fuel the jet — and the way in which a modular approach will ease some of the near term infrastructure constraints.

We spent several hours with their team in their office. Seeing firsthand all of their ongoing initiatives as each team provided an update on their previous quarter’s accomplishments and learnings.

Achieving France’s First Hydrogen-Electric Flight

Earlier this year the team achieved France’s first manned fully hydrogen-electric flight. The engineers reviewed the nuances leading up to this accomplishment and the rapid iteration required to make this happen. The team shared perspectives of how they incorporated learnings from their experiences at incumbents like Airbus, Embraer and AirFrance and why Beyond will be the first electric business aircraft.

The day ended with a duck and tartare dinner, where we shared candid feedback centered on how we can collectively improve to make each board meeting even more productive and impactful.

Beyond Aero’s Values in Practice

Reflecting on the visit, what stood out most is how seamlessly Beyond Aero integrates their values into every aspect of their business. Under Eloa’s leadership, the company embodies the pursuit of a higher purpose with the pragmatism needed to get there — all while raising the bar in terms of innovation and maintaining a deep sense of care for their team, partners, and the world they are working to improve.

We left the visit not only inspired by their progress but also reaffirmed in our belief that Beyond Aero is building something truly special—a company that will leave a lasting impact, both on aviation and on how companies should operate, led by values as much as by vision. We’re proud to be their earliest investor and a partner in the next phase of their journey.