United in Support for eVTOLS In a stride that brings urban air mobility closer to reality, Archer Aviation has achieved its longest-ever piloted flight for its Midnight eVTOL aircraft—covering roughly 55 miles in just 31 minutes, reaching speeds over 126 mph. The test, held at Archer’s flight test facility in Salinas, California, showcased not just impressive…
Capital Infusion: Fueling Flight Forward Eve Air Mobility (NYSE:EVEX) has executed a substantial $230 million equity capital raise through a registered direct offering, selling 47,422,680 shares at $4.85 each. The investors include BNDESPAR (a Brazilian Development Bank subsidiary), Embraer, and other institutional backers, right in line with Eve’s strategy of deepening financial roots in both hemispheres. The offering is set to close…
eVTOL manufacturer Archer Aviation plans to capitalize on the products developed by Palantir Technologies Inc. (NASDAQ: PLTR) in order to streamline and increase efficiency at its two manufacturing plants, one known as “ARC” in Covington, Georgia, and the “Integrated Test Lab and Manufacturing Facilities” in San Jose, California. It is expected that the Covington, GA…
Within the next few days Marian Boček will provide the portion necessary out of a total 150 million euros to keep the lights on at Lilium (OTCMKTS: LILMF) which needs around 10 million euros for salaries and rental costs each month. This is in addition to the tens of millions of euros owed to suppliers…
The Christmas Lights will turn on bright at Lilium after Munich-based MUC Mobile Uplift Corporation GmbH agreed to purchase the operating assets of the subsidiaries Lilium GmbH and Lilium eAircraft GmbH. In this asset purchase agreement which is planned to close in early January 2025, the subsidiaries will have the financial resources to continue their…
While Lilium is working hard to find different ways to save the company, there are many cards up its sleeve. Thanks to the self-managed insolvency, the millions in euros that would be required to pay for Lilium’s more than 1,000 employees is absorbed by the Federal Employment agency. Not only does this provide some financial…
Lilium has publicly announced that during its mergers and acquisition process (M&A) it will retain the services of the UK headquartered “Big Four” multi-service firm KPMG. The Local Court of Weilheim granted Lilium’s request for self-administered insolvency. Two court-appointed lawyers will join the subsidiaries Boards of Management as Chief Insolvency Officers (CIOs): Prof. Dr. Gerrit…
Lilium’s 6-k filing on Thursday (October 24th 2024), mentioned the situation at hand regarding the need of funds for Lilium (NASDAQ: LILM) to “conduct ongoing operations” in the same tempo it has in recent years. “As of the date of this report, the Company and the Subsidiaries have a limited amount of cash to conduct…
The German federal government currently faces a crucial decision: whether to support Lilium, an innovative aerospace company, with a €50 million loan guarantee. Lilium, known for its cutting-edge work on electric vertical takeoff and landing (eVTOL) aircraft, has the potential to place Germany at the forefront of the global race in urban air mobility. However,…
(Yes, we know the correct pronunciation, but thought this was fun!) Two potential sources of funding might provide the spark that jumpstarts electric VTOL manufacture Lilium’s growth. Both a €100 million ($110 million) loan from the German government owned KfW Development Bank and a French government investment of €220 million would provide Lilium with the…
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