Lilium

Follows German parliament´s Budget Committee not approving a loan guarantee that was a condition precedent to a private fundraise
Company was also unable to reach an agreement in principle with Bavarian government to guarantee a €50 million loan
Application for self-administration proceedings driven by insolvency at Lilium subsidiaries in Germany

Dedienne Aerospace, a provider of aerospace maintenance tooling, announces a pivotal license agreement with Lilium, an original equipment manufacturer (OEM) of electric vertical takeoff and landing (eVTOL) aircraft. The collaboration underscores the shared vision of both companies to transform civil aviation through innovative technologies and operational performance.

Honeywell (Nasdaq: HON) announces it was selected by Lilium (Nasdaq: LILM), the developer of the first all-electric vertical takeoff and landing (eVTOL) jet, to supply propulsion-unit position sensors for the Lilium Jet. Honeywell designed the sensors, known as “resolvers,” specifically for the needs of the Lilium Jet. The sensors will play a critical role in accurately sensing the engine’s position, ensuring that the jet can safely reach the exact position required for a successful takeoff.