Bruchsal, DE, 10 February 2022 – Volocopter, the pioneer of urban air mobility (UAM), and Aviation Capital Group LLC (ACG) have entered into an agreement in principle to develop financing solutions that will assist with the sale of Volocopter’s family of electric vertical take-off and landing (eVTOL) aircraft for up to USD 1 billion. Deliveries are expected to commence once the aircraft has been certified for commercial use by the respective civil aviation authorities. These include the European Union Aviation Safety Agency (EASA) and the Federal Aviation Administration (FAA).
For Volocopter customers, this agreement offers an option and an opportunity to lease the aircraft through financing schemes, as is customary within the aviation industry. The experience and trusted services of ACG as a global aviation aircraft asset management company will provide flexibility and security in customer transactions during the lease.
The UAM total addressable market is expected to be worth EUR 241 billion by 2035. The market in which Volocopter operates is uniquely targeted at flying above and around the world’s densely populated megacities. The Volocopter family of eVTOL aircraft fly completely emission-free and provide transportation as a service both for passengers (VoloCity and VoloConnect*) and for goods (VoloDrone). Moreover, all aircraft are designed with low complexity to meet the needs of this market and customer, as well as the highest level of standards in aviation safety and low-noise emissions that make them ideal for inner-city journeys.
Volocopter aims to create UAM ecosystems in cities worldwide with sustainable aircraft, meeting the highest safety standards by achieving civil aviation certification, and forging strong partnerships with governments and businesses. It is the first and only eVTOL developer to hold Design Organisation Approval (DOA) and Production Organisation Approval (POA), two strategic regulator milestones necessary to launch commercial services. The agreement between ACG and Volocopter will permit the scaling of the commercial business shortly after certification, fulfilling customer demand for aircraft up to USD 1 billion. All Volocopter aircraft – VoloCity, VoloConnect*, and VoloDrone – are expected to be covered by this agreement. The transaction remains subject to further negotiation and execution of a definitive agreement and customary closing conditions.
*The VoloConnect was renamed in October 2022 and is now known as the VoloRegion
About Aviation Capital Group
Aviation Capital Group was founded in 1989 and is one of the world’s premier full-service aircraft asset managers with approximately 400 owned, managed and committed aircraft as of September 30, 2021, which are leased to approximately 90 airlines in approximately 45 countries. ACG is a wholly owned subsidiary of Tokyo Century Corporation.
Volocopter brings urban air mobility (UAM) to megacities worldwide. We aim to improve the quality of life for people in cities by offering a fantastic new mode of transportation. To this end, we create sustainable and scalable UAM ecosystems with partners in infrastructure and operations.
Volocopter’s family of eVTOL aircraft will offer passengers (VoloCity and VoloConnect) and goods (VoloDrone) swift, secure, and emission-free connections to their destinations, supported by VoloIQ, the UAM ecosystem’s software platform that serves as its digital backbone for safe and efficient operations.
As a pioneer in the UAM industry, Volocopter will launch commercial services within the next few years. Founded in 2011, the company employs more than 500 people in Germany and Singapore, has completed over 1,000 successful public and private test flights, and raised €322 million in equity from investors, including Daimler, Geely, DB Schenker, BlackRock, and Intel Capital. www.volocopter.com