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…
With $318 million raised during the Series C round it brings the total equity capital raised by BETA Technologies to 1 billion dollars. During this round of fundraising, Qatar Investment Authority (QAI) led the investment, while Fidelity Management & Research Company and TPG Rise Climate Fund were able to increase their share of BETA Technologies…
Systems power-on paves the way for Lilium Jet’s ground testing campaign Munich, October 1, 2024 – Lilium N.V. (NASDAQ: LILM), a leader in electric aircraft manufacturing and a pioneer in Regional Air Mobility (RAM), has successfully completed the systems power-on milestone for its all-electric Lilium Jet. The first in-production aircraft, MSN 1, has undergone the…
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