Riyadh, April 07th, 2021 – The Future Investment Initiative Institute (FII-I) has invested in Lilium as part of a strategy to develop and leverage sustainable and environmentally-friendly alternatives to traditional combustion engines in the air travel industry.<\/p>\n\n\n\n
\u2022 Lilium is pioneering the Electric Vehicle Take-Off-and-Landing (EVTOL) aircraft segment. These are electric jets that can take off and land vertically \u2013 they offer a sustainable and less carbon-intensive way for travelers to beat traffic, hop between cities, and connect regional destinations up to 250 km.<\/p>\n\n\n\n
\u2022 The Lilium seven-seater jet received the CRI-A01 certification basis last year from the European Aviation Safety Agency (EASA), its primary regulator is pursuing concurrent certification from the U.S. regulator, the Federal Aviation Authority (FAA). The 7-Seater Lilium Jet will be the first model to go into serial production with a cruise speed of 175 miles per hour (280 kph) and a range of more than 155 miles (250 kilometers).<\/p>\n\n\n\n
\u2022 In addition to the FII-Institute, other investors in the placement include fund manager Baillie Gifford, funds and accounts managed by BlackRock, Tencent, Ferrovial, LGT and its direct impact investing arm Lightrock, Palantir, Atomico and private funds affiliated with PIMCO. The total gross proceeds to the company are expected to be approximately $830 million, including approximately $380 million cash held in trust (assuming minimal redemptions of Qell Acquisition Corp.’s existing public stockholders) and $450 million from the PIPE investment. The Munich-based EVTOL company Lilium, positioned to be a global leader in regional electric air mobility, intends to be listed on the U.S. stock market via a SPAC merger with Qell Acquisition Corp., in a deal valuing the combined company at $3.3 billion pro forma equity value at the $10.00 per share PIPE price.<\/p>\n\n\n\n
\u2022 The FII Institute is a new class of hybrid Think Tank\/Foundation with part of its mission to support the development of technologies to address the biggest social and environmental challenges. The Institute has a global mandate and will be investing directly into deep innovative companies in sustainability and then supporting the growth and impact of those companies.<\/p>\n\n\n\n
\u2022 Alexander Asseily, Chief Strategy Officer, Lilium, \u201cWe view the FII Institute as one of the leading global platforms for sustainable impact investments and a strategic partner who can help drive our vision for an open global architecture for carbon neutral air travel.\u201d<\/p>\n\n\n\n
\u2022 Richard Attias, CEO of the FII Institute, \u201cour investment in Lilium is aligned with the FII-Institute\u2019s mission: to support initiatives and projects which will have a positive impact on humanity. Our trilogy strategy: Think-Xchange-Act is allowing us to play an active role in the new sustainable economy.<\/p>\n\n\n\n
ENDS\u200b<\/p>\n\n\n\n
Background :<\/p>\n\n\n\n
About Lilium<\/p>\n\n\n\n
Lilium\u2019s vision is to create a sustainable and accessible mode of high-speed, regional transportation. Using the 7-Seater Lilium Jet, an electric vertical take-off and landing jet, offering leading capacity, low noise and high performance, Lilium is building a transport network and service for people and goods. Working in partnership with world-leading aerospace, technology and infrastructure partners, commercial operations are planned to launch in 2024. Lilium\u2019s 600+-strong team includes over 400 aerospace engineers and a leadership responsible for delivering some of the most successful aircraft in aviation history. Founded in 2015, Lilium\u2019s headquarters and manufacturing facilities are in Munich, Germany, with teams based across Europe and the U.S.<\/p>\n\n\n\n
https:\/\/lilium.com\/newsroom-detail\/Lilium-intends-to-list-on-Nasdaq-through-merger-with-qell-and-reveals-serial-aircraft<\/a> Click on link for the press release on the proposed business combination<\/p>\n\n\n\n