SEKISUI CHEMICAL CO., LTD. (“SEKISUI CHEMICAL”) concluded a capital and business partnership agreement with Volocopter Gmbh (“Volocopter”) which develops and manufactures an Electric Vertical Takeoff and Landing (“eVTOL”) and a drone for Advanced Air Mobility (“AAM”) market.

1. Backgrounds

AAM is an air transportation system using eVTOL and drones. eVTOLs are expected to be a novel and sustainable means of transportation, with lower greenhouse gas emissions and less noise during takeoff and landing than existing commercial aircrafts and helicopters because they are electrically driven. In Japan, the first eVTOL operation is planned for the Osaka Expo in 2025.

SEKISUI CHEMICAL Group has positioned "Innovative Mobility" as one of the strategic business domains defined in its long-term vision "Vision 2030," and is focusing on business expansion in the aircraft, automobile, and electronics fields.

Volocopter has developed its own multicopter type eVTOL aircraft and the infrastructure necessary to operate the eVTOL, thereby launching its AAM business ahead of its global competitors. The company plans to obtain type certification for its eVTOL aircraft from the European Union Aviation Safety Agency (EASA) in 2024 and to begin commercial services in Paris, Rome, Singapore and the Neom region of Saudi Arabia.

2. Details of the business partnership and future initiatives

SEKISUI CHEMICAL concluded a capital and business partnership agreement with Volocopter to apply and jointly developing various materials and technologies cultivated through our business in the aircraft, automobile, and electronics fields to the eVTOL aircraft being developed by Volocopter in addition to supporting Volocopter's business expansion in Japan.

We are accelerating our collaboration with start-up companies and academia to expand and strengthen our strategic business domains. We will continue to pursue similar alliances to explore new technologies and businesses.

3. Sponsorship of VoloCity Airtaxi's full-size aircraft exhibition and demonstration ride event

We are also sponsoring Volocopter's Urban Air Mobility Showcase (Grand Front Osaka North Building Foyer,“Knowledge Plaza”) on March 8-12, 2023, and this partnership is scheduled to be announced within the event. A full-size aircraft model exhibition and demonstration ride are scheduled for this event, which will be open to the public from 10th to 12th, as well as governments, local governments, shareholders and partner companies.