Otto Aviation reports that its full-scale prototype of the Celera 500L has completed 31 successful test flights that validate its operating performance goals.

The Celera 500L utilizes extensive laminar flow over the fuselage, wings and tail surfaces to reduce drag and achieve superior aerodynamics, speed and fuel efficiency. The manufacturing detail delivers cruise efficiencies unmatched by conventional aircraft, the company says.

"Innovation at its core is solving a problem without conventional bias. Our goal was to create a private aircraft that would allow for direct flights between any city pair in the U.S. at speeds and cost comparable to commercial air travel," says William Otto Sr., chairman and chief scientist of Otto Aviation. "In many cases, individuals and families will be able to charter the Celera 500L at prices comparable to commercial airfares, but with the added convenience of private aviation. We believe when the price of private air travel is competitive with commercial air travel, an enormous market opportunity will result."

Otto Aviation currently holds seven patents, further contributing to the credibility and potential of the aircraft.

The aircraft has a maximum cruise speed of 450 miles per hour, a range of over 4,500 miles, a large stand-up cabin and an astounding fuel economy of only 18 to 25 miles per gallon.

The Celera 500L offers many benefits including: The ability to travel privately at costs comparable to commercial airline tickets; direct service between any city pair in the continental United States, and a spacious, stand-up cabin with six first-class seats and lavatory.

Emission levels are expected to surpass the FAA and ICAO target emissions standards for aircraft entering service in or after 2031 by over 30%, with a reduction in carbon emissions by over 80% compared to a similar business aircraft and by 40% compared to the latest commercial transport aircraft.

Otto adds, "We believe the Celera 500L is the biggest thing to happen to both the aviation and travel industries in 50 years. Beyond using our aircraft for passenger travel, it can also be used for cargo operations and military applications. Since the results from our prototype test flights have been so promising, we're ready to bring the Celera 500L to market."

A Series B funding round for Otto Aviation is now open. William Blair & Company is advising Otto Aviation on the transaction.