MICRON INSIGHT -- Micron Technology, Inc.
(Nasdaq: MU), today announced that its strategic investment entity,
Micron Ventures, is taking part in a Series C investment round in
urban air mobility pioneer Volocopter. A builder of electrically
powered vertical take-off and landing aircraft that meet the safety
standards of today’s aviation vehicles and exceed those of
helicopters, Volocopter seeks to commercialize autonomous,
on-demand air taxi services.
Expanding Mobility to the SkiesThe growing
migration of people to cities is pushing current models of mobility
to their limits. The need to find solutions is sparking an
explosion of innovation and disruption from private companies like
Volocopter. With nearly a decade of experience testing its air taxi
technology, the German-based startup’s electrically powered
vertical take-off and landing (eVTOL) aircraft address the
increasing need to transform megacity transportation systems and
provide people with new commuting options.
“Volocopter is an exciting company that’s well-positioned to
revolutionize the mobility and transportation market and contribute
to building a sustainable and environmentally friendly
transportation infrastructure,” said René Hartner, vice president
of Corporate Business Development at Micron Technology. “Micron’s
investment in Volocopter aligns with our view of the critical role
that memory and storage solutions play in enabling the breakthrough
capabilities needed for autonomous vehicles and edge
computing.”
Micron is the largest memory supplier for the automotive
industry, with high-performance solutions that facilitate
advancements in autonomous driving, virtual reality and air travel.
Micron Venture’s investment in Volocopter reflects the company’s
constant scouting for new, innovative solutions.
“We’re proud to have Micron partner with us as we execute on our
bold vision to bring urban air mobility to life,” said Volocopter
CEO Florian Reuter. “Volocopter helps megacities transform their
mobility infrastructure toward a more sustainable future. We aim to
offer affordable, autonomous, on-demand air taxi services to
transport people in megacities — all for the price of a taxi ride
and with significant time savings.”
In addition to air taxis, Volocopter is also developing the
ecosystem around urban air mobility while working with the European
Union Aviation Safety Agency on securing Type I certification to
transport people commercially. This effort includes VoloPorts that
connect VoloCity aircraft with key inner-city traffic hubs, such as
airports and business districts.
The Memory and Storage EdgeAs Micron’s
customers demand greater performance and energy efficiency, memory
and storage solutions are becoming strategic differentiators for
its customers and partners. New sources of data in this ecosystem
include embedded systems, sensors in everything, RFID tags, and
advanced compute systems in cars, planes and supercomputers.
Micron Ventures identifies and directs Micron’s investments in
technology-first startups, creating value from new computing
architectures and applied artificial intelligence and machine
learning solutions. As a leading global semiconductor company
working across industry verticals, Micron is uniquely positioned to
accelerate portfolio companies into global markets through research
and development support, productization and collaborative market
entry.
The new investment round was led by Zhejiang Geely Holding Group
(Geely Holding), a privately owned automotive group from China with
a portfolio of global brands including Geely Auto, Volvo Cars,
Lotus and other automotive companies. Geely has also partnered with
Daimler to bring smart and premium ride-hailing services to
market.
About Micron Technology, Inc. We are an
industry leader in innovative memory and storage solutions. Through
our global brands – Micron®, Crucial®, and Ballistix® – our broad
portfolio of high-performance memory and storage technologies,
including DRAM, NAND, 3D XPoint™ memory and NOR, is transforming
how the world uses information to enrich life. Backed by 40 years
of technology leadership, our memory and storage solutions enable
disruptive trends, including artificial intelligence, 5G, machine
learning and autonomous vehicles, in key market segments like
mobile, data center, client, consumer, industrial, graphics,
automotive, and networking. Our common stock is traded on the
Nasdaq under the MU symbol. To learn more about Micron Technology,
Inc., visit micron.com.
About VolocopterVolocopter is building the
world’s first sustainable and scalable urban air mobility business
to bring affordable air taxi services to megacities
worldwide. With the VoloCity, the company is developing the
first fully electric, safe, and low-noise “eVTOL” aircraft in
certification to safely and quietly transport passengers within
cities. Volocopter leads and cooperates with partners in
infrastructure, operations, and air traffic management to build the
ecosystem necessary to ‘Bring Urban Air Mobility to Life’. In 2011,
Volocopter performed the first-ever manned flight of a purely
electric multicopter and has since showcased numerous public
flights with its full-scale aircraft. The most notable have been
the public test flights at Singapore’s Marina Bay in October 2019
and the world’s first autonomous eVTOL flight in Dubai
2017. Founded in 2011 by Stephan Wolf and Alexander Zosel,
Volocopter has 150 employees in offices in Bruchsal, Munich, and
Singapore. The company is managed by CEO Florian Reuter, CTO
Jan-Hendrik Boelens, and CFO Rene Griemens, and has raised a total
of 85 million euro in equity. Volocopter‘s investors include
Daimler, Geely, Intel Capital, Micron, BtoV, and Manta Ray
Ventures. Find out more at: www.volocopter.com.
© 2019 Micron Technology, Inc. All rights reserved. Information,
products, and/or specifications are subject to change without
notice. Micron, the Micron logo, and all other Micron trademarks
are the property of Micron Technology, Inc. All other trademarks
are the property of their respective owners.
Micron Media Relations Contact
Erica Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com
Micron Investor Relations Contact
Farhan Ahmad
Micron Technology, Inc.
+1 (408) 834-1927
farhanahmad@micron.com
Volocopter Media Relations Contact
Helena Treeck
Volocopter GmbH
+49 (151) 2372-1517
helena.treeck@volocopter.com
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