NEOM, the smart and sustainable regional development in northwest Saudi Arabia, 
has announced a USD 175 million Series E investment in Volocopter, the pioneer 
of Urban Air Mobility. The land of the future giga-project will take a 
significant equity stake in the company as part of its strategic engagement 
with the global eVTOL industry, positioning it as a leader in future mobility 
solutions.

This deal will expand NEOM's strategic partnership with Volocopter to progress 
an advanced air mobility industry in Saudi Arabia, in line with NEOM's 
cutting-edge strategy for its mobility sector. It builds on the NEOM-Volocopter 
joint venture launched in December 2021, which will operate electric air taxi 
services in NEOM to connect various regions including THE LINE, OXAGON and 
TROJENA.

Nadhmi Al-Nasr, Chief Executive Officer at NEOM, said: "This crucial investment 
aligns with the ambitious plans announced by HRH the Crown Prince Mohammed bin 
Salman, the Chairman of NEOM's Board of Directors, for the Kingdom to achieve 
sustainability and to develop NEOM into an accelerator of human progress. It 
will contribute to taking humanity closer to a new era of mobility – an era 
defined by zero-emission, electrically-powered vertical take-off and landing 
vehicles. Together with the Kingdom's General Authority of Civil Aviation, NEOM 
and Volocopter will make concepts like air taxis an everyday reality for its 
residents and visitors. Powerful partnerships such as the one that NEOM is 
cultivating with pioneering companies like Volocopter will fuel giant leaps 
forward – not just for the benefit of NEOM and the Kingdom – but for all."

Dirk Hoke, CEO at Volocopter, added: "This is the first time in history that 
eVTOLs, with their unique characteristics, are being factored into the design 
of a region that is being built from scratch. This offers a whole new approach 
to how urban air mobility can increase quality of life in cities. NEOM's 
investment bears testament to our leading position as a technology pioneer in 
the race to become the first company to break into the emerging urban air 
mobility market."

NEOM's unique regional development provides a global living lab for advancing 
and embedding electric urban air mobility in a multi-modal sustainable 
transport system. Being built from the ground up, NEOM offers the ideal 
environment for trialing cutting-edge electric mobility solutions on land, in 
the air and at sea. In addition to NEOM, Volocopter has launched partnerships 
and offers its services in global cities that include Paris, Singapore and 
Rome, as well as in China.

In close collaboration with Saudi Arabia's General Authority of Civil Aviation 
(GACA), NEOM and Volocopter are implementing a national test bed for Saudi 
Arabia to enable the integration of eVTOLs with zero-emission future urban 
mobility.

Electric air taxis are a key component of NEOM's mission to implement a truly 
sustainable and seamlessly connected multi-modal mobility system powered by 
100% renewable energy.

Overall, NEOM will invest in eVTOL fleets, operations and infrastructure to 
localize industry innovation.

About NEOM

NEOM is an accelerator of human progress and a vision of what a New Future 
might look like. It is a region in northwest Saudi Arabia on the Red Sea being 
built from the ground up as a living laboratory – a place where 
entrepreneurship will chart the course for this New Future. It will be a 
destination and a home for people who dream big and want to be part of building 
a new model for exceptional livability, creating thriving businesses and 
reinventing environmental conservation.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, 
research centers, sports and entertainment venues and tourist destinations. As 
a hub for innovation, entrepreneurs, business leaders and companies will come 
to research, incubate and commercialize new technologies and enterprises in 
groundbreaking ways. Residents of NEOM will embody an international ethos and 
embrace a culture of exploration, risk-taking and diversity.

For further information email media@neom.com or visit www.neom.com and 
www.neom.com/en-us/newsroom.

This material is distributed by Teneo Strategy LLC on behalf of NEOM Company. 
Additional information is available at the Department of Justice, Washington, 
DC.

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SOURCE: NEOM