“Eve Air Mobility Secures USD88 million from BNDES to Develop its eVTOL Manufacturing”

Brazil’s Nation­al Devel­op­ment Bank has approved a loan agree­ment of USD88 mil­lion to sup­port Eve Air Mobility’s devel­op­ment of its eVTOL man­u­fac­tur­ing, reports a press release. Much of the mon­ey will be used for Eve’s pro­duc­tion facil­i­ty in Taubaté, in the state of São Paulo, Brazil. 

The release states, “Under the BNDES Mais Ino­vação pro­gram, the financ­ing rein­forces BNDES’ com­mit­ment to sup­port­ing inno­v­a­tive projects and Eve’s advance­ments in fos­ter­ing decar­bon­i­sa­tion and the urban air mobil­i­ty (UAM) indus­try.”

It con­tin­ues, “The man­u­fac­tur­ing facil­i­ty financ­ing builds upon the suc­cess­ful part­ner­ship between Eve and BNDES fol­low­ing the 2022 approval of a USD92.5 mil­lion line of cred­it to sup­port Eve’s eVTOL devel­op­ment pro­gram. The new fund­ing is struc­tured by sub-cred­its from domes­tic and inter­na­tion­al sources, includ­ing the bank’s for­eign cur­ren­cy funds, and a matu­ri­ty of 16 years.”

Johann Bor­dais, CEO of Eve, com­ment­ed, “We are pro­found­ly grate­ful for the con­tin­ued sup­port from BNDES. This financ­ing will be instru­men­tal in set­ting up our eVTOL man­u­fac­tur­ing facil­i­ty, which will be not only the first of its kind in Brazil but also pow­ered by clean, renew­able ener­gy, aligned with our com­mit­ment to sus­tain­abil­i­ty.”

With an even­tu­al total expect­ed out­put of up to 480 air­craft per year, Eve plans to expand the site’s pro­duc­tion capac­i­ty on a mod­u­lar basis, with four equal­ly sized ones of 120 air­craft per year.

Eduar­do Couto, CFO of Eve, remarked, ”This financ­ing strength­ens Eve’s robust cash posi­tion by adding long-term financ­ing aligned with our com­pa­ny pro­file. As we advance our eVTOL pro­gram devel­op­ment and man­u­fac­tur­ing efforts, our focus remains on deliv­er­ing long-term val­ue for our share­hold­ers with an opti­mal cap­i­tal struc­ture mix­ing equi­ty and debt.”

Eduar­do Couto

José Luís Gor­don, Direc­tor of Pro­duc­tive Devel­op­ment, Inno­va­tion and For­eign Trade at BNDES, added, “Financ­ing the capac­i­ty for inno­va­tion, with a dis­rup­tive solu­tion for urban mobil­i­ty and decar­bon­i­sa­tion, is the objec­tive of Plano Mais Pro­dução, the financ­ing arm of Nova Indús­tria Brasil.” 

He con­tin­ued, “The goal is to boost the pro­duc­tive sec­tor and ensure that tech­no­log­i­cal devel­op­ment and pro­duc­tion occur with­in the nation­al ter­ri­to­ry, gen­er­at­ing more qual­i­fied jobs and income with­in the coun­try”.

Eve holds the indus­try’s largest back­log with Let­ters of Intent (LOI) for 2,900 eVTOLs from 30 cus­tomers in 13 coun­tries, rep­re­sent­ing a poten­tial USD14.5 bil­lion in sales rev­enue. The com­pa­ny has select­ed already all of its pri­ma­ry sup­pli­ers and con­struct­ed the first full-scale eVTOL pro­to­type last July.

For more infor­ma­tion

www.eveairmobility.com

https://www.bndes.gov.br

(Images: Eve Air Mobil­i­ty)

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