Blade enters into alliance with magniX for the electrification of Lima’s amphibious seaplanes for urban air mobility flights on Blade’s main routes

Blade Urban Air Mobility, Inc. (“Blade” or the “Company”), a technology-based urban air mobility platform, today announced an alliance through which magniX USA Inc. (“magniX”), the a leading manufacturer of electric aviation, supplying its electric propulsion units (“EPUs”) to Lima NY Corp. (“Lima”), one of Blade’s largest aircraft operating partners, for the conversion of the Lima Cessna fleet of Blade-branded amphibious Caravans to all-electric aircraft from early 2023, under certain conditions.

Blade is the exclusive platform for Lima flights offered to the public. Key routes include flights from Blade Aqua Lounge to East 23rd Seaplane Base Street in New York, the east end of Long Island, New York, and the Blade Terminal in Nantucket, Massachusetts.

Based on current estimates, fully electric trailers will run emission-free at the same speed as current generation turbine trailers, with a significantly reduced noise footprint and lower operating costs.

As part of the alliance, Lima will be the exclusive owner in the northeastern United States of the Supplemental Type Certificate (“STC”) for the conversion of the current generation turbine engine of the trailer to the magniX EPU.

Blade President Melissa Tomkiel said: “Amphibious seaplane service has always been a critical part of our urban air mobility strategy, given the aircraft’s unique ability to access city centers via airways. Conveniently located waterways, such as Manhattan’s East River, as well as traditional airports. the electrification of our accessible fleet of Blade-branded aircraft, made possible through our alliance with magniX and Lima, one of our key operating partners, will further accelerate our transition to silent and emission-free flight, enabling us to reduce the environmental and noise impact in and around the communities where we fly. “

“Partnering with Blade and Lima to bring electric aviation to one of the largest cities and densely populated areas in the United States is incredible proof of the value of providing communities with zero emissions, reduced noise and lower operating costs, ”said Roei Ganzarski, CEO of magniX. “With electric propulsion as a cornerstone, magniX continues to move forward into the new electric era of aviation. “

Blade’s alliance with magniX and Lima follows recent agreement for Blade to secure up to 20 BETA Technologies ALIA Vertical Electric Aircraft (“EVA”) on behalf of Blade’s operator network with delivery scheduled for late 2024 , and agreements for Wisk Aero LLC, a joint venture between Boeing and Kitty Hawk, backed by Larry Page, to own, operate and maintain up to 30 EVAs for exclusive use on Blade’s US route network.

The alliance between Blade, magniX and Lima described in this press release is subject to early approval by the Federal Aviation Administration of the STC and parties entering into other agreements.

About the blade

Blade is a technology-based urban air mobility platform committed to reducing travel friction by providing cost-effective air travel alternatives to some of the most congested overland routes in the United States and abroad. . Today, Blade mainly uses helicopters and amphibious planes. Its lightweight equipment model, combined with its exclusive passenger terminal infrastructure, is designed to facilitate a smooth transition to electric vertical aircraft (“EVA” or “eVTOL”), allowing the public to have low-cost air mobility, at both silent and emission-free. free.

For more information, visit https://ir.blade.com/.

About magnix

Based in Everett, WA, magniX’s mission is to lead the commercial aerospace and defense industries by providing high performance, reliable and environmentally friendly propulsion solutions. Developed with proprietary technology, magniX offers a range of revolutionary electric propulsion solutions, including motors and power electronics, which produce zero emissions at reduced operating costs. For more information, please visit: www.magnix.aero.

About Lima

Lima NY Corp. d / b / a Fly The Whale is an American scheduled air carrier founded in 2008. Lima operates state-of-the-art Cessna Caravan C208EX amphibians, wheeled Cessna Caravan C208EX and Sikorsky S76C ++ helicopters from bases in Farmingdale, NY, and New Haven , CT. In New Haven, Lima built a first-class seaplane facility to house the northeast’s largest seaplane fleet, supported by a highly experienced team of pilots, mechanics and support staff. Lima is one of the few air carriers to offer all three modes of air transport: traditional land, sea and vertical.

Forward-looking statements

This press release contains certain “forward-looking statements” within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, ” could “,” continue “,” expect “,” estimate “,” may “,” plan “,” outlook “,” future “and” project “and other similar expressions which predict or indicate events or future trends or that are not statements of historical issues. These forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond Blade’s control, which could cause actual results to differ materially from the results discussed in the statements. prospective. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the occurrence of any event, change or other circumstance that could result in the termination of the alliance between Blade, magniX and Lima described in this press release. press, as well as the non-execution by the parties of the final agreements relating to the alliance; (2) failure of a party to meet the applicable terms and conditions; (3) failure to meet envisioned specifications or achieve anticipated cost savings; (4) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in or failure to obtain regulatory approvals necessary to complete transactions; (5) the possibility that Blade will be adversely affected by other economic, commercial, regulatory and / or competitive factors; and (6) the impact of COVID-19 on Blade’s business and / or the ability of the parties to complete transactions.

New risks and uncertainties arise from time to time, and it is impossible for Blade to predict these events or how they could affect Blade or the transactions described in this press release. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are posted, and Blade assumes no obligation to update or revise forward-looking statements, either as a result. new information, changes in expectations, future events or the like.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210527005331/en/

Contacts

hurry

For Blade Media Relations
Phil Denning / Nora Flaherty
[email protected]

For Blade Investor Relations
Mike Callahan / Tom Cook
[email protected]

For magniX media relations
Barokas Communications for magniX
[email protected]

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