German eVTOL company Volocopter seeks investor support through insolvency proceedings while continuing its efforts to obtain aircraft type certification.
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| Volocopter, a pioneer in eVTOL technology, files for insolvency while pursuing its goal of launching commercial eVTOL services. Image: Volocopter |
Berlin, Germany --- January 1, 2025:
Volocopter, a pioneer in urban air mobility (UAM), has filed for insolvency proceedings in Germany while actively seeking investor support to navigate the current economic climate.
The company, which is on the cusp of achieving aircraft type certification for its VoloCity eVTOL aircraft from the European Union Aviation Safety Agency (EASA), filed an application for the opening of insolvency proceedings at the Karlsruhe Local Court on December 26, 2024. Tobias Wahl, partner at Anchor Rechtsanwältegesellschaft mbH, has been appointed as the provisional insolvency administrator.
"We are confident in our technological advancements and our position as a leader in the eVTOL sector," stated Dirk Hoke, CEO of Volocopter. "This restructuring process will allow us to secure the necessary funding to navigate the current market conditions and ultimately bring our innovative aircraft to market."
Founded in 2011, Volocopter has consistently pushed the boundaries of eVTOL technology. Despite facing the challenges of the current economic landscape, the company has maintained a strong focus on research and development, achieving significant milestones in flight testing and certification.
Volocopter emphasizes that this insolvency process will not disrupt daily operations. The company will continue its ongoing work towards EASA certification and explore potential partnerships while working closely with the insolvency administrator to develop a robust restructuring plan.
"We aim to finalize a restructuring plan with investors by the end of February," explained Tobias Wahl. "This will ensure Volocopter can continue its mission of revolutionizing urban transportation with safe, sustainable, and efficient eVTOL aircraft."