Ferrovial will invest in the listing of Lilium, the aerotaxis company

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Ferrovial has announced its intention to go as an investor in the IPO of the company resulting from the merger between the German aeronautical company, Lilium GmbH, with the North American Qell Acquisition Corp within the institutional section of the operation.

The company chaired by Rafael del Pino has taken this direct position in order to “actively participate in a new sector, such as urban air mobility, in one of the companies that has a leadership position in the sector”. In fact, it has already closed strategic agreements with Lilium, such as the development of the vertiport network in Florida, United States.

In the same way, Ferrovial foresees the taking of participation, either directly or indirectly, in the startups that offer you a relevant position in future markets or that may represent a competitive advantage in the process of transformation of mobility and infrastructures.

Lilium’s project

At transaction prices, the merged company, which will be called Lilium, will be worth $ 3.3 billion, consolidating itself as one of the leading companies in this new air mobility market.

The new Lilium eVtol will have seven seats and is scheduled to reach a cruising speed of 280 km / h, an altitude of more than three kilometers and have a range of about 250 km. With these capabilities, the 7-Seater Lilium Jet and the regional shuttle service business model will offer the best per-unit savings for passengers and businesses.

The institutional section, with a price of 10 dollars per share, reaches the $ 450 million, giving the merged company $ 830 million in funding to launch commercial operations in 2024. This includes the completion of manufacturing facilities in Germany, serial production of the Jet, and the completion of the certification process, as reported by Ferrovial.

In this operation relevant international investors also participate such as Baillie Gifford, funds and accounts managed by BlackRock, Tencent, LGT and its investment arm Lightrock, Palantir, Atomico, FII Institute and private affiliated funds of PIMCO.

Lilium has partnered with world-class providers whose technologies and services have been certified in the aerospace industry around the world for decades, including: Toray Industries, Aciturri, and Lufthansa Aviation Training.

Qell Acquisition Corp. (“Qell”), is a SPAC (Special Purpose Purchasing Company) listed on the Nasdaq, and directed by Barry Engle, former president of General Motors North America, focused on the development of new sustainable mobility. generation.