Amazon.com, Inc. (AMZN.US) supported electric aircraft startup company Beta (BETA.US) submitted an application to go public in the US. Its aircraft have completed thousands of flights.

Electric aircraft manufacturer Beta Technologies submitted an initial public offering (IPO) application in the United States on Monday, becoming another company to sprint for listing in the recent stock market bull market. Currently, a easing trade tensions, strong stock market performance, and high investor demand are driving this year to become one of the most active IPO windows in recent years, with technology, aerospace, and green energy companies leading the way. Beta Technologies focuses on the design, manufacturing, and sales of high-performance electric aircraft, advanced electric propulsion systems, and charging equipment. The company stated in its prospectus that the operating cost of its electric aircraft is 42% lower than traditional aircraft, thanks to simplified designs that eliminate complex components such as gearboxes, in-flight liquid cooling systems, and thrust vectoring control mechanisms. Its ALIA CTOL electric aircraft has completed thousands of flights, covering a total distance of nearly 83,000 nautical miles in North America and Europe. It has also been used for training missions by the US military and has received flight verification from the Federal Aviation Administration (FAA). The company has the support of tech giant Amazon.com, Inc. (AMZN.US) and plans to list on the New York Stock Exchange under the ticker symbol "BETA". Morgan Stanley and Goldman Sachs Group, Inc. will serve as the main underwriters for this IPO. The company has not disclosed the fundraising amount or pricing details yet.