On the close of 2021; looking back over the year

Leaving Hollandsche Rading

In a year again dominated by COVID-19, our thoughts are with all those living with the effects of the global pandemic, be they the tragedy of loss, the short- and long-term effects on health, and / or the impacts on general wellbeing.

The early 2020s thus far have made us aware that the world is one community sharing a fragile planet. With more selflessness and collective action, it can become a better and more sustainable place.

In the business environment, the COVID-19 coronavirus has been a threat for many and an opportunity for some; its impact has lain bare any weaknesses in contingency planning and demonstrated the need for robust and effective risk management processes in organizations.

The year for Cormorant

For us at Cormorant, the need for sustainable aircraft solutions was well emphasized by the outcomes and intentions resulting from the 26th United Nations Climate Change conference (COP26) held in Glasgow, Scotland in October/November. The need for sustainable, zero-CO2 emission transport, including aviation, is readily apparent.

The general aviation sector, of which we are part, is that best placed to be an early adopter of technologies to enable green solutions for air transport in the short- to medium-term. COP26 demonstrates that the time for climate action is now; at Cormorant we aim to play our part in this process.

For this reason and despite COVID-19, we decided to formalize the structure of Cormorant as a besloten vennootschap (or BV, the Dutch equivalent of a private limited company) in order that an appropriate structure can be presented to investors, who can help accelerate the development process. Whilst restrictions brought about by various governments’ reactions to coronavirus have necessitated changes to ways of working, particularly in ‘attending’ virtual meetings thanks to Zoom, Google Meets, Team Meetings etc., this year saw:

  • Moving the development site for the construction of our full-scale, land- & water-testing prototype, from Hollandsche Rading some 5 km outside Hilversum to a dedicated workshop at the Vonk in de Wijk (Spark in the Neighborhood) sustainable community in Hilversum. Here we have both the space to complete this stage of the project and can also welcome visitors, who may see what we’re doing.
  • ‘Internalization’ of processes to combat the downside business effects of the pandemic as far as practicable. By this we mean avoiding over-reliance on personnel in other organizations. For example, the video excerpt above shows the turning of the drive shaft for our current prototype – such activities are being undertaken by us directly, rather than contracting out to another party, thereby avoiding undue reliance on other organizations that may be affected by staff shortages due to self-isolation requirements or even outright temporary closure due to governmental pandemic responses.
  • Development of partnerships with key component providers and professional advisors has continued. We hope to make public such relationships in the New Year.

 

In summary, it’s been a year of corporate structural consolidation and continued progress despite pandemic obstacles. As stated above, the planet cannot delay progress toward a sustainable air transport sector. We at Cormorant are invested in this.

We take this short posting as an opportunity to wish everyone a Better, Happy and, above all, Healthy 2022.

For the many forced apart due to the pandemic situation we take solace in the Scots poet, Rabbie Burns’ traditional song of reunion and the preservation of friendships traditionally sung at this time, Auld Lang Syne.

Enjoy your New Year’s Eve, wherever you are.

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