URBAN AERONAUTICS APPOINTS NIMROD GOLAN-YANAY AS CEO

Leader in VTOL Aircraft Prepares for the Next Stage of its Evolution

TEL AVIV, October 6, 2020 – Urban Aeronautics, a leader in VTOL aircraft, today announced it has appointed Nimrod Golan-Yanay as its new CEO. Dr. Rafi Yoeli, the founder of Urban Aeronautics, will become President of the company.

“After serving for more than 20 years as CEO of Urban Aeronautics, I look forward to focusing my energy on supporting strategic development of the company and its technology,” Dr. Yoeli stated. “I am pleased to welcome Nimrod to his new position. He has demonstrated strong leadership and management qualities throughout his career, which will serve him well going forward.”

Golan-Yanay was previously Vice President of Business Development for Urban Aeronautics. Prior to joining the company, he was a vice president at Amdocs, a leading provider of software and services to communications and media companies. Before that, he served for 25 years in the Israeli Air Force (IAF), retiring with the rank of lieutenant colonel.

“I admire the innovative approach and groundbreaking work accomplished by Dr. Yoeli, which has resulted in a game-changing new concept in aviation,” Golan-Yanay said. “Together with our team and partners, we look forward to continuing to revolutionize the world of air mobility.”

The company is utilizing its internal rotor Fancraft™ technology to develop the next generation of manned and unmanned flying vehicles. Fancraft™ encompasses a family of safe, quiet, car-sized VTOLs that are able to fly and land where no other vehicle can, making the dream of door-to-door aerial transportation a reality. Designed to FAA requirements, Fancraft™ utilize powerful ducted fans, with no external wings or rotors, resulting in superior control, stability, speed, safety, noise reduction and sustainability.

Urban Aeronautics develops manned vehicles for commercial air taxi and air rescue roles, including its flagship CityHawk, a six-seat lightweight twin-engine eVTOL with a uniquely compact footprint optimized for urban transportation and emergency response.

Through subsidiary Tactical Robotics, the company also focuses on unmanned VTOLs for military, civil applications. Its primary autonomous vehicle is the Cormorant, a car-sized, one-ton single-engine aircraft. Following more than 300 flights, the Cormorant has clearly demonstrated its potential to fly in crowded terrain including urban, wooded, and mountainous areas where it is difficult for rotary helicopters and other aircraft to safely operate.