The Future Investment Initiative Institute (FII-I) has chosen to invest in aerospace company Lilium as part of their strategy to “develop and leverage sustainable and environmentally-friendly alternatives to traditional combustion engines in the air travel industry”.
According to Richard Attias, CEO of the FII Institute, “Our investment in Lilium is aligned with the FII-Institute’s 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.”
The FII Institute is a new class of hybrid Think Tank/Foundation that looks to invest directly with deep innovative companies in sustainability and then supporting the growth and impact of those companies. Part of the Institute’s mission is to “support the development of technologies to address the biggest social and environmental challenges.”
According to Alexander Asseily, chief strategy officer of Lilium, “We 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.”
Widely regarded as one of the global leaders in the aerial mobility industry, Munich-based Lilium’s eVTOL seven-seater jet recently received the CRI-A01 certification basis last year from the European Aviation Safety Agency (EASA) and is currently looking to finalize certification from the Federal Aviation Authority (FAA) in the United States as well. The 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 km).
Why it’s important: Recently having announced their public listing on NASDAQ through a merger with Qell Acquisition Corp., Lilium remains as one of the pioneers of the aerial mobility industry. With their funds from backers nearing $830 million, Lilium looks to offer a sustainable and less carbon-intensive way for travelers to beat traffic, hop between cities, and connect regional destinations up to 250 km.
Source // Saudi Gazette