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Written by Eric Volkman for The Motley Fool
Beta is participating in a program located in North Carolina.
Investors liked that the aircraft are being utilized for such flights.
Beta Technologies (NYSE: BETA) was more like an alpha stock for some investors recently. On news that it began operations for an important flight program, its share price received some healthy lift from Mr. Market.
As of Friday before market open, the aerospace and defense stock had risen by nearly 11% week to date, according to data compiled by S&P Global Market Intelligence.
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Beta announced on Wednesday that it had launched operations and is participating in the eLIFT specialized medical flight network in North Carolina. Its participation will fall under the eVTOL Integration Pilot Program (eIPP) overseen by the federal government's Department of Transportation and the Federal Aviation Administration (FAA).
The eLIFT program is designed to use aircraft, such as Beta's electric models, to deliver medical supplies and care to remote, underserved communities.
In its press release divulging the news, Beta wrote that "The operations will demonstrate how lower-cost, all-electric aviation can reduce the time required to deliver critical supplies, strengthen the resilience of regional healthcare networks, and improve access to care across the state."
By participating in the eLIFT program, Beta not only gets to show how its aircraft can operate in often critical real-world use cases, it also serves the public good. It also puts the company ahead of other next-generation aircraft developers, as its wares will be in active operation.
Assuming the company's participation goes relatively smoothly, we can expect its profile to rise commensurately -- and for new investors to discover the stock.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.