ACG, Volocopter sign financing deal

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(PHOTO: Volocopter)

www.txtav.com/jetsUrban air mobility company Volocopter 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 US$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.

“This transaction highlights ACG’s ongoing commitment to reducing the environmental impact of the aviation industry and to working towards a cleaner and more sustainable future,” said Tom Baker, CEO and president of ACG. “The transaction builds on the existing partnership between Volocopter and ACG’s parent company, Tokyo Century, an early equity investor in Volocopter.”

Florian Reuter, CEO of Volocopter, said: “This agreement will allow our business to hit the ground running after aircraft certification. It signifies ACG’s and our investor Tokyo Century’s trust in Volocopter’s leadership in the UAM market. We are grateful for this partnership as this financing represents another cornerstone of the essential ecosystem for scaling UAM.”

The UAM total addressable market is expected to be worth 241 billion euros by 2035. The market in which Volocopter operates is targeted at flying above and around the world’s densely populated megacities. The Volocopter family of eVTOL aircraft fly emission-free and provide transportation as a service both for passengers (VoloCity and VoloConnect) and for goods (VoloDrone). The agreement between ACG and Volocopter will permit the scaling of the commercial business shortly after certification, fulfilling customer demand for aircraft up to US$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.

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