Rolls-Royce is forging ahead with its attempt to build the world’s fastest all-electric plane after completing ground testing of the technology that will power the aircraft.

The plane will use a battery with enough energy to supply 250 homes, according to the aerospace giant, which said the aircraft would be capable of more than 300mph at full speed.

All the technology has been tested on a full-scale replica of the plane’s core, which has been named ‘ionBird’ after the zero-emission energy source propelling the aircraft, Rolls-Royce said.

The company’s engineering and test pilots have been optimising the system and developing operating procedures for electric flight since January.

The announcement comes just days after Rolls-Royce confirmed it was in talks with investors over a fundraise of up to £2.5billion as Covid-19 continues to blight the aviation industry.

The plane is part of a Rolls-Royce initiative called Accelerating the Electrification of Flight – or Accel.

The Accel project team includes electric motor and controller manufacturer Yasa and aviation start-up Electroflight.

Nadhim Zahawi, UK business and industry minister, said: “From trains to planes, our transport of the future will be powered by clean, electric sources – with companies like Rolls-Royce developing the tech to help meet our net zero ambitions.

“The completion of ground-testing for the government-backed Accel project is not only a step towards an exciting world record attempt, but a leap towards developing all-electric and hybrid-electric planes that one day could ferry large numbers of passengers around the world.”

The first flight is planned for later this year, with Rolls-Royce aiming to beat the current all-electric flight world record early next year.

British luxury watchmaker Bremont will be the official timing partner for the record attempt.

It has also helped develop the design of the plane’s cockpit which will feature a stopwatch, while the company has machined canopy release parts at its Henley-on-Thames manufacturing facility.

Rob Watson, director of Rolls-Royce electrical, said: “Rolls-Royce is committed to playing a leading role in reaching net zero carbon by 2050.

“The completion of ground-testing for the Accel project is a great achievement for the team and is another important step towards a world record attempt.

“This project is also helping to develop Rolls-Royce’s capabilities and ensure that we remain a leader in delivering the electrification of flight, an important part of our sustainability strategy.”

Half of the project’s funding is provided by the Aerospace Technology Institute (ATI), in partnership with the Department for Business, Energy & Industrial Strategy and Innovate UK.

BusinessLive is your home for UK business news – and you can stay in touch with all the latest stories through our email alerts.

You can sign up to receive daily morning news bulletins from your region as well as weekly emails covering key economic sectors from manufacturing to technology and enterprise. And we’ll send out breaking news alerts for any stories we think you can’t miss.

Visit our email preference centre to sign up to all the latest news from BusinessLive.

Mark Scully, head of technology for advanced systems and propulsion at the Aerospace Technology Institute, added: “The significance of reaching this milestone should not be underestimated.

“The Accel team is pioneering the integration of high-performance batteries, motors and drives to deliver an electric propulsion system in an ambitious flight test programme.

“These technologies and the systems integration needed to utilise them hold great potential for future sustainable aviation, which is why the ATI is proud to support the project.”