The company was formed in 2009 after acquiring the type certificates from Bell Helicopter.

The 47GT-6 would be built to the 47G-3B-2A type design and would feature a number of modernizations, including the Rolls-Royce RR300 gas turbine engine, a new instrument panel, LED exterior lights, new interior, and composite main rotor blades.

SB47 also hopes to lower the operating cost with the use of modern drive train technologies.

[1] Some progress seemed to have been made, in 2014 Rolls-Royce confirmed orders for the RR300 series engine, and reported there were 38 pre-orders for the helicopter.

[2] However, as of October 2020 there was no sign of a new variant of the Bell 47 and the company official website makes no mention of the project and various news sites have no coverage beyond 2015.