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Bruchsal, Germany, 30 December 2024 – Volocopter GmbH filed an application for the opening of insolvency proceedings at the Karlsruhe Local Court on 26 December 2024. The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, partner, and attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator.
Volocopter is a pioneer of urban air mobility (UAM), developing safe, quiet, and sustainable all-electric vertical take-off and landing (eVTOL) aircraft and a digital backbone that connects aircraft, infrastructure, and operators, the VoloIQ. Founded in 2011, the start-up company is nearing the finish line to obtain aircraft type certification and launch its urban eVTOL, the VoloCity.
The company aims to enter the market in 2025 following VoloCity's successful certification by the European Union Aviation Safety Agency (EASA).
Numerous successful financing rounds have driven the company's development and operations in the past. With one of the lowest burn rates in the industry, Volocopter has successfully operated in an extremely difficult financial environment. However, despite recent intensive fundraising efforts, finding a viable solution to maintain regular operations outside of insolvency proceedings has not been possible.
Business operations will continue as usual during the provisional insolvency proceedings. The provisional insolvency administrator has now held a staff meeting to inform employees about the current situation and answer initial questions about the proceedings. In addition, Tobias Wahl has initiated an investor process. "The company needs financing to take the final steps towards market entry. We will endeavor to develop a restructuring concept by the end of February and implement it with investors," explains Tobias Wahl.
Katharina Agüera +49 151 54458971
Akiko Itoga +49 15165511834
press@volocopter.com
About Anchor
Anchor is a hybrid of law firm and management consultancy. With 14 offices and around 150 employees in the areas of insolvency and restructuring, the law firm is one of the largest restructuring units in Germany.
Anchor has assisted and restructured numerous large companies in and out of insolvency. Anchor's lawyers are regularly proposed and appointed as insolvency administrators, trustees or restructuring managers in insolvency, self-administration and protective shield proceedings.
Anchor Management is known for its business restructuring advice, interim management and distressed M&A advice. In advisory mandates, Anchor combines legal expertise with business know-how. www.anchor.eu
About Volocopter Volocopter brings sustainable air mobility to megacities worldwide. We aim to improve the quality of life for people in cities by offering a fantastic new mode of transportation. For that, we create sustainable and scalable urban air mobility (UAM) ecosystems with partners in infrastructure and operations.
Volocopter will offer passengers swift, secure, and emission-free connections to their destinations, supported by VoloIQ, the UAM ecosystem’s software platform that serves as its digital backbone for safe and efficient operations.
As a pioneer in the UAM industry, Volocopter will launch commercial services within the next few years. Founded in 2011, the company employs more than 500 people and has completed over 2,000 successful public and private test flights, and has diverse investors, including, Mercedes-Benz Group, Geely, Intel Capital, and BlackRock. www.volocopter.com