Noerr advises European Investment Bank on the financing of Wingcopter GmbH

With a team led by Michael Schuhmacher Noerr advised the European Investment Bank (EIB) in connection with the financing of Wingcopter GmbH.

The European Investment Bank (EIB) will provide a €40 million quasi-equity investment into Wingcopter GmbH, a European leader and pioneer in unmanned delivery drone technology and related services. Founded in 2017 in the German state of Hesse, Wingcopter’s electrically powered unmanned aircraft are already delivering goods as part of several small-scale commercial and humanitarian projects. For example, in Malawi, a joint project with UNICEF and Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) has seen Wingcopter’s drones deliver life-saving medicines and medical supplies to rural communities in hard-to-reach areas.

The EIB investment is backed by the European Commission’s InvestEU programme under its sustainable infrastructure window. Using electric cargo drones to deliver urgently needed goods can replace carbon-intensive modes of transport such as motorcycles, vans and helicopters, thereby contributing to the transition towards a green and sustainable economy.

The Wingcopter 198 is expected to be operated for the first time in Germany this summer when Wingcopter launches a pilot project in southern Hesse to test the potential of on-demand transport of groceries and other consumer goods. The project’s goal is to improve local supply in rural German communities through a sustainable delivery service and will be conducted together with the Frankfurt University of Applied Sciences. It is funded by the German Federal Ministry for Digital and Transport.

What makes Wingcopter’s cargo drones truly unique is their ability to take off and land vertically while flying quickly and efficiently over long distances like an airplane without the need for expensive infrastructure. They can carry up to 5 kg and cover distances of up to 100 km. The core hardware and software is patented worldwide. Already running on pure battery power, the Wingcopter team, together with Hamburg-based ZAL Center of Applied Aeronautical Research GmbH, is currently developing a green hydrogen energy system to power Wingcopter's drones for even longer flight times.

The EIB’s investment comes alongside existing funding from a strong international group of investors, including leading European retailer REWE Group, Japanese Fortune 100 conglomerate ITOCHU, Silicon Valley-based Xplorer Capital and Uber co-founder Garrett Camp’s investment arm Expa. Together, the investor commitments will enable Wingcopter to extend the capabilities of its flagship drone, obtain regulatory approval in key markets and deploy its drones at scale in sustainable last-mile delivery networks to become a global logistics services provider across multiple sectors.

Advisors to European Investment Bank: Noerr

Michael Schuhmacher (lead, partner, Banking & Finance, Frankfurt), Ana-Maria Mirceta (senior associate, Banking & Finance, Frankfurt), Sebastian Voigt (partner), Dominik Pokora (senior associate, both Corporate / Merger & Acquisitions, Dresden), Michaela Engel (partner), Elisabeth Dworschak (associated partner, both Tax, Munich), Jörn Mayer (associate, Corporate, Munich)

Luxemburg: NautaDutilh Avocats Luxembourg S.à r.l., Sara Gerling