Eve Air Mobility (NYSE: EVEX; EVEXW) has taken another bold step toward revolutionizing urban air mobility. The company announced a fresh injection of $35 million* from Brazil’s National Development Bank (BNDES), reinforcing its financial foundation as it transitions its innovative eVTOL program from prototypes to production-ready aircraft.
This latest funding follows a series of strategic investments, including a $92.5 million R&D line of credit secured in 2022 and a recent $50 million commitment from Citibank. Together, these milestones underscore Eve’s commitment to its ambitious vision for Advanced Air Mobility (AAM).
Driving Innovation and Green Solutions
The newly approved funding, sourced from BNDES’s Climate Fund, will focus on manufacturing conforming prototypes and preparing for commercial production. It will also support critical testing processes as Eve moves closer to certification. BNDES President Aloizio Mercadante highlighted the broader implications:
“In addition to supporting an innovative project, we are investing in a disruptive, green technology industry. This strengthens Brazil’s position in the global market while contributing to energy transition efforts. In total, the bank has approved R$700 million this year for Eve’s eVTOL production.”
Building Momentum
Johann Bordais, CEO of Eve, emphasized the significance of this partnership:
“This continued support from BNDES is instrumental as we advance our eVTOL program, from prototype development to production readiness. These resources position us to meet key milestones, including certification and commercialization, while solidifying our leadership in the AAM market.”
Eduardo Couto, Eve’s CFO, added:
“This investment underscores confidence in Eve’s vision. It enhances our financial stability and aligns with our strategic goal to deliver sustainable value to our shareholders. As we bring our eVTOL to market, we’re poised to capitalize on emerging opportunities in this dynamic industry.”
Paving the Way for Certification
Eve recently achieved a significant regulatory milestone when Brazil’s National Civil Aviation Agency (ANAC) published the final airworthiness criteria for its eVTOL aircraft. This development marks a critical step toward type certification, following a comprehensive public consultation process.
A Legacy of Excellence
Eve benefits from Embraer’s 55-year legacy in aerospace innovation. This deep-rooted expertise provides Eve with access to a robust global service and support network, a critical factor in ensuring the safety, reliability, and efficiency of future urban air mobility operations.
What’s Next?
As Eve accelerates toward commercialization, its partnership with BNDES remains a cornerstone of its strategy. With a clear focus on creating sustainable and groundbreaking urban mobility solutions, Eve is setting the standard for the next era of transportation.
Source: Eve Air Mobility
Edited: Katerina Urbanova
Photo credit: Eve Air Mobility
