CAE announced the signing of a strategic partnership, subject to definitive agreement, to develop, certify, and deploy an innovative pilot training program for electric vertical takeoff and landing (eVTOL) operations. A first in the industry, this eVTOL pilot training program will develop the pilot workforce of the future and ensure safe introduction of eVTOL operations globally by leveraging CAE's advanced technologies such as artificial intelligence (AI), virtual reality (VR), mixed reality (MR), as well as data analytics and Volocopter's leading understanding of requirements for integration into the UAM ecosystem. UAM is an emerging part of the aviation industry focused on aerial connectivity in and around cities. Volocopter's family of electric aircraft are designed to relieve today's heavily fossil-fueled, inner-city traffic for both people (VoloCity, VoloConnect) and goods (VoloDrone). The company's first commercial eVTOL aircraft, the VoloCity, is well into its certification program with the European Union Aviation Safety Agency (EASA) and is positioned to launch first services in time for the 2024 Olympics in Paris. Through existing agreements and partnerships with global leaders, such as Daimler, Aéroports de Paris, Microsoft Azure, and now CAE, Volocopter plans to launch its services in a number of cities globally within the next five years. Volocopter is committed to seeking certification with the higher global safety standards for aircraft and operations. CAE commits to expanding its worldwide training network with a forecasted investment of up to $40 million to meet Volocopter's projected pilot demand in the early years of operation. CAE will be deploying training equipment and instructors in lockstep with Volocopter's growth. As part of the agreement, Volocopter will purchase a simulator from CAE to be used in its pilot training program certification. CAE will create new, student-centric courseware, specifically designed for the pilots of the future as Volocopter's courseware provider and will also offer pilot trainees customized resources that enable faster, more efficient pilot training.