Orama Ventures LLC today announced a pioneering national network in Europe for the provision of advanced air mobility services starting in Greece that will revolutionize the interconnection and transportation sector.
In particular, as stated in a relevant announcement, a group of leading global players in the aviation, tourism & hospitality, construction and investment sectors has created a joint venture with the aim of developing the required infrastructure, for the entry and operation of type aircraft eVTOL (Electric Propulsion, Vertical Takeoff and Landing Aircraft) in Greece, until 2026.
eVTOLs are aircraft with electric propulsion systems, capable of vertical take-off and landing, without requiring the existence of a runway. They can carry up to six passengers with zero emissions, minimal noise levels, and a cost per kilometer completely comparable to that of a conventional taxi. These are aircraft designed to operate in urban centers (until now inaccessible to traditional means of air transport), allowing seamless, efficient and high-speed passenger transport, in a sustainable, environmentally and economically optimal way.
The eVTOLs will be served by vertical take-off and landing stations, called Vertiports. Vertiport stations are designed to be located in urban centers, either in available open spaces, or on suitably configured building roofs. As well as regional destinations, mainland and island territory.
The Orama Nexus platform will start with the construction of Vertiport stations in central points and suburbs of Athens and Thessaloniki, as well as in more than twenty (20) regional urban centers and islands. While it will continue the development of its network, with the installation of more than a hundred small passenger boarding and disembarking stations (Vertistops), in areas throughout Greece. The ON platform aims to expand its network, so as to create an aerial connection through scheduled or on demand routes, with every corner of the Greek territory.
“After thorough research in the global market, we are proud to have chosen Greece for the implementation of this innovative air transport system, which will allow the residents of Athens to cross their city in less than 10 minutes and at a cost equivalent to a taxi, while offers comfortable access to previously inaccessible, mainly island destinations, while at the same time it will enable direct and affordable air transportation to every hotel unit and business in Greece,” said Mr. Alain Grangé, President of Orama Ventures LLC.
The ON platform will connect all the main international gateways for visitors to the country, such as the Athens International Airport “El. Venizelos”, with the city center as well as with a number of popular destinations, often allowing tourists to go directly to residence destination they have chosen.
Currently the estimated operating range of eVTOLs is estimated at 150 miles (> 240 km), while the Vertiport & Vertistop stations are designed in such a way that the distance of the interconnected destinations, combined, far exceeds the aircraft’s rated range .
While the upcoming development of battery technology is expected to significantly increase the range of eVTOLs, the ON platform, through the network of stations it has designed, is going to positively affect the daily lives of residents, regardless of where they live.
Orama Nexus is expected to raise funds of more than 500 million euros for the first part of the investment, while the total amount is expected to exceed 2 billion euros, for the first ten years of operation of the platform, including the development of the network and the procurement of required aircraft.
“The Orama Nexus platform offers an excellent investment opportunity, in a sustainable venture whose ecological features maximize the return on investment, while at the same time creating business development offering thousands of jobs in hundreds of regions across Greece,” said Mr. Kash from London Chandarana, CEO of Luxe Brand Assets.
While consultations with various government agencies and potential partners from related sectors of activity in Greece are set to continue throughout 2022, Orama Nexus intends to proceed with the acquisition of the required properties and the permitting procedures for the construction of the first stations Vertiport, in 2023.
“We are very proud to have been selected as the exclusive partner of Orama Nexus for the construction and development of this innovative venture, and we are going to devote all available resources to the realization of contract construction works and new green energy delivery systems, so as to ensure that the implementation of the ON platform in all its parts, will be characterized by the highest standards of technical excellence”, said Mr. Christos Panagiotopoulos, President of AKTOR SA.
The European Union is currently conducting a major legislative process together with EASA (European Union Aviation Safety Agency) to establish an air traffic legislative framework for the smooth integration of this new industry. It is expected that the legislative arrangements and the expected delivery schedules of the eVTOL manufacturers will allow Orama Nexus to start its services in Greece by 2026.
Orama Ventures LLC, based in Florida, USA, is the investment arm of O Lifestyle International (www.o-lifestyle.com) based in Luxembourg. O Lifestyle International is a pioneering hospitality-hotel business, real estate development and operation company, as well as private aviation, which offers its customers the unique opportunity to fly at no cost, with its fleet of private aircraft, while participating in an investment scheme absolutely protected from inflation rates.
Luxaviation Group (www.luxaviation.com) based in Luxembourg, is one of the largest providers and managers of private aviation services in Europe, with over 1,500 employees and a fleet of more than 250 aircraft. Luxaviation has forged an excellent reputation for safety and service excellence in a high-demand industry, while supporting innovation and early adoption of sustainable eVTOL solutions.
ACTOR SA based in Greece (www.ellaktor.com), is a member of the ELLAKTOR group. The ELLAKTOR group is one of the leading groups in Greece and the most important in South-Eastern Europe, with a rich international presence in various sectors, the focus of which is the sector of construction, real estate development, renewable energy sources and environmental projects. The ELLAKTOR group has expertise in the implementation of complex and demanding projects, while it is among the 100 largest construction groups in the world (Global Powers of Construction 2020, Deloitte – July 2021).
Luxe Brand Assets LLP (www.luxebrandassets.com) is an investment and asset management company, active exclusively in the hospitality, real estate and luxury living sectors. The firm is based in London and has established partnerships with strategic partners internationally, while representing the interests of major investors in activities related to luxury living.
Source: Capital
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