US-based private aviation firm Surf Air Mobility has agreed to acquire hybrid electric aviation technology provider Ampaire.

Based in Los Angeles, Ampaire specialises in developing hybrid electric powertrains for existing popular aircraft to upgrade a first-generation fleet of vehicles focused on nine to 19-seat piston and turboprop aircraft.

The acquisition is in line with Surf Air Mobility’s plans to make air travel affordable, accessible and sustainable.

Completion of the transaction, which is valued at more than $100m, is subject to certain closing conditions, including the approval of Ampaire stockholders.

Surf Air Mobility co-founder and CEO Sudhin Shahani said: “With flight demonstrations and testing already in progress, Ampaire’s hybrid electric powertrain technology brings us closer to the next great shift in air travel: sustainable aviation that’s accessible to everyone.

“With this advanced technology, we have the opportunity to solve aviation’s biggest problems – operating cost and environmental impact – through electrification.

“We see the near-term opportunity to transform existing turboprop aircraft across the entire industry as the first step to ultimately extend to fully electric aviation across all trip lengths.”

Upon completion of the deal, all Ampaire employees will join Surf Air Mobility while founder Kevin Noertker will serve as president for a new division called AMP.

Based in Santa Monica, California, Surf Air offered an all-you-can-fly service on Pilatus Aircraft PC-12s to various secondary airports across the state on a monthly membership fee.

The company plans to offer hybrid electric powertrain upgrades to fleet owners in the near future.

Last August, Surf Air secured $200m in funding.