Eve Announces “Additional USD35 Million Funding from BNDES” for eVTOL Development

Eve Air Mobil­i­ty announced this week an addi­tion­al USD35 mil­lion fund­ing from Brazil’s Nation­al Devel­op­ment Bank (BNDES), fur­ther solid­i­fy­ing the eVTOL company’s finan­cial posi­tion for con­tin­ued air­craft devel­op­ment, reports a press release. BNDES has been a key part­ner of the com­pa­ny’s vision for Advanced Air Mobil­i­ty (AAM).

This sec­ond-phase of financ­ing fol­lows a USD92.5 mil­lion line of cred­it secured in 2022 for Research and Devel­op­ment from the Bank, as well as a recent USD50 mil­lion invest­ment from Citibank, both ded­i­cat­ed to sup­port­ing Eve’s eVTOL devel­op­ment pro­gram.

The BNDES mon­ey, sourced from the Cli­mate Fund, will be allo­cat­ed to man­u­fac­tur­ing Eve’s con­form­ing pro­to­types and, sub­se­quent­ly, the com­mer­cial vehi­cle. The fund­ing will also be used “for test­ing process­es.”

Johann Bor­dais, CEO of Eve, com­ment­ed, “The con­tin­ued sup­port from BNDES is high­ly sig­nif­i­cant as we advance our eVTOL pro­gram and tran­si­tion from pro­to­type devel­op­ment to cer­ti­fi­ca­tion and pro­duc­tion readi­ness. This fund­ing strength­ens our finan­cial posi­tion even more and pro­vides the resources nec­es­sary to achieve our key mile­stones, includ­ing cer­ti­fi­ca­tion and the com­mer­cial­i­sa­tion of our eVTOL.”

Johann Bor­dais

Eduar­do Couto, CFO of Eve, added, “Our dis­ci­plined cap­i­tal man­age­ment and enhanced finan­cial foun­da­tion pro­vide the sta­bil­i­ty and resources nec­es­sary to exe­cute our long-term strate­gic plan and deliv­er sus­tain­able val­ue to our share­hold­ers as we bring the Eve eVTOL to mar­ket.”

Eve takes advan­tage of its par­ent com­pa­ny, Embraer, and its 55 years of expe­ri­ence in design­ing, cer­ti­fy­ing and man­u­fac­tur­ing state-of-the-art air­craft. Its cus­tomers will also ben­e­fit from hav­ing access to an exist­ing glob­al ser­vice and sup­port net­work, which is crit­i­cal to ensur­ing reli­able, safe, and effi­cient UAM oper­a­tions.

Aloizio Mer­cadante, BNDES Pres­i­dent, remarked, “The Bank was instru­men­tal in installing the eVTOL fac­to­ry in Taubaté, guar­an­tee­ing qual­i­ty jobs in the region. Now, we are financ­ing the devel­op­ment of the air­craft itself. In total, the bank has already approved, this year, BRL700 mil­lion for the pro­duc­tion of Eve’s eVTOL.”

The Nation­al Civ­il Avi­a­tion Agency of Brazil (ANAC) recent­ly pub­lished the final air­wor­thi­ness cri­te­ria for Eve’s air­craft, an impor­tant step towards type cer­ti­fi­ca­tion. This fol­lows a pub­lic con­sul­ta­tion peri­od and allows the com­pa­ny to pro­ceed with defin­ing the means of com­pli­ance for its eVTOL with ANAC.

For more infor­ma­tion

https://www.eveairmobility.com

https://www.bndes.gov.br/wps/portal/site/home

(Top image: Eve Air Mobil­i­ty)

For the lat­est news, insights and con­tent regard­ing the glob­al Advanced Air Mobil­i­ty mar­ket, please join the fol­low­ing eVTOL Insights chan­nels: What­sApp, Face­book, Insta­gram, Spo­ti­fy, Apple Pod­casts, YouTube, X and LinkedIn.