German air taxi Volocopter discusses SPAC merger listing
[Asia Economy Reporter Yujin Cho] German air taxi startup Volocopter has announced that it is considering a stock market listing through a merger with a SPAC (Special Purpose Acquisition Company).
Florian Reuter, CEO of Volocopter, said on the 18th (local time), "As we approach the commercialization of air taxis, it seems that more funding will be needed," adding, "We are discussing a SPAC merger listing as part of our fundraising efforts."
Volocopter is negotiating to raise 200 million euros from investors led by BlackRock, the world's largest asset management firm. This funding is expected to be used for obtaining operational permits for battery-powered air taxis that Volocopter is pursuing.
CEO Reuter stated, "We expect to receive more investment to achieve the goal of commercializing air taxis the year after next."
Previously, in 2019, Volocopter received commercial operation approval for a two-seater air taxi from the European Union Aviation Safety Agency (EASA).
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The air taxi with operational approval can travel a maximum distance of 35 km on a single charge, with a top speed of 110 km/h. Volocopter is also developing VoloDrone for cargo transport alongside the air taxi.
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