MUNICH, Germany, May 24, 2023 (GLOBE NEWSWIRE) -- Lilium N.V. (Nasdaq: LILM) (“Lilium” or the “Company”), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet, has released its Q1 2023 Shareholder Letter. The Shareholder Letter, which discusses Lilium’s progress towards important milestones in the development of its revolutionary Lilium Jet, can be accessed on the Lilium investor relations website.
Recent Accomplishments
• Secured funding for up to $250 million, extending cash runway towards first manned flight of type-conforming aircraft.
• Progressed type-certification, with 78% of the Lilium Jet’s Means of Compliance (MoCs) agreed, driven by EASA’s acceptance of MoCs in areas of propulsion and energy system.
• Continued type-conforming aircraft development at full pace with wind tunnel testing underway of complete aircraft model with powered engines and actuators, successful testing of battery packs, and fan test launched on full-size engine.
• Secured intellectual property rights in key eVTOL technologies, with new patents granted in battery management, electrical power distribution, and actuation of ducted fans.
• Executed on go-to-market-strategy with commercial agreements including pre-delivery payments with Air-Dynamic and ASL Group; potential order pipeline grew to 645 aircraft.
• Contracted a state-of-the-art Lilium Jet cockpit simulator to support certification and pilot training.
• Q1 adjusted cash spend on target (€62 million), while Lilium continues to meet timelines on aircraft development plan.
Lilium Releases Q1 Shareholder Letter
Lilium N.V., the developer of an all-electric eVTOL jet, has released its Q1 2023 Shareholder Letter. The letter discusses the company's recent milestones, including securing funding of up to $250 million and progressing type-certification. They have also made progress in aircraft development, securing intellectual property rights, and executing commercial agreements. Additionally, they have contracted a Lilium Jet cockpit simulator for certification and pilot training. Lilium's Q1 adjusted cash spend was on target, and they continue to meet timelines for their aircraft development plan. More details can be found on the Lilium website.
