WINGCOPTER LAST MILE DELIVERY (IEU GT)

Wingcopter GmbH is a German aerospace company that develops and operates cutting-edge electric cargo drones to provide last-mile delivery services for third parties across a wide range of geographies. The funding will be used to finance the deployment of efficient and green middle- and last-mile logistics solutions using Wingcopter drones, thus replacing current expensive and emission-heavy road or air transportation.

The project will contribute to supporting the development, production, deployment and operation of Wingcopter's electric unmanned aerial vehicles (eUAVs), enabling the company to provide last-mile delivery services at a global scale and a competitive cost while reducing greenhouse gas emissions and air pollution caused by fossil fuel-based means of transport.

The Project contributes to the EIB's objective of sustainable transport, decarbonisation and digitalisation of transport. Deployment of electric unmanned aerial vehicles (UAVs) in freight transport supports the shift to sustainable transport means and reduces negative transport environmental externalities. This is a dynamic and emerging new sector within an evolving regulatory framework, and consequently higher risks and so a sub-optimal investment situation.

The Project contributes to address the market gap in rapid, low cost, green (zero-emission) last mile, time sensitive deliveries - especially to deep rural and hard-to-reach areas, and consequently result in efficiency gains in last mile logistics by promoting innovation in transport systems, lead to more efficient pricing of some transport services and promoting the digitalization/ automation of air traffic information management. In addition, the EIB support in deploying UAVs in Europe facilitates scaling-up and learning in this field.

By using energy efficient, zero-emission UAVs in freight transport, the Project reduces CO2 emissions and air pollutions (NOx, PM). Additional benefits for freight operators are expected due to reduced vehicle operating costs (VOCs) using more energy efficient assets for deliveries to distant and low density/ low traffic locations. This effect is assumed to justify operators' investments in UAVs on top of their existing fleets and to be absorbed in market demand forecasts of the Project. Furthermore, deploying large number of electric UAVs will substantially improve electric mobility supply.

Overall, EIB's intervention will provide equity-like risk capital for the Company at a critical time in its development and scaling up of its technology and services, which eventually should enable the Company to provide last mile delivery services on a global basis using UAVs at a competitive cost by transitioning logistics services away from fossil-fuel based means of transport, such as cars, vans or helicopters/ light aircraft.

The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

The deployment of drones and associated infrastructure does not fall under Annex I or Annex II of the Directive 2014/52/EU amending the Directive 2011/92/EU on the assessment of the effects of certain public and private projects on the environment (EIA Directive), meaning that a screening decision by the Competent Authority (CA) based on these criteria is not required.

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions.