• Matternet, a drone-based delivery solutions provider, has received Federal Aviation Administration’s (FAA) Type Certification for its “M2” drone-based delivery system—a joint operation between United Parcel Services (UPS) and Matternet. With this Matternet becomes the first drone-based delivery services provider to have obtained the Type Certification.

• The certificate, achieved following four years of evaluation, signifies that Matternet has met rigorous safety standards and approves aircraft design and components used.

• Over the past four years, Matternet M2 has been operating under a Part 135 certification, which permits commercial deliveries on a trial basis, using an exemption while the systems are being evaluated.

<ul><li> Analyst QuickTake: We believe that with the latest approval, the company would be able to scale up its commercial operations in the future. Several peer companies including Wingcopter and MissionGo are also currently working toward obtaining the Type Certification.</ul>