Eve Air Mobility, the air mobility company created by Embraer, secured a new credit line of 200 million reais (~USD 37 million) from the National Bank for Economic and Social Development (BNDES). This financing, announced on December 2, will bolster the development of its electric vertical takeoff and landing aircraft (eVTOL).
According to our associated media in Brazil, AEROIN, this new phase of financial support adds to a previous line of 490 million reais (~USD 81 million) granted in 2022 for research and development, as well as a recent USD 50 million investment from Citibank, both aimed at driving Eve’s eVTOL program forward.
The BNDES resources, sourced from the Climate Fund, will be used to manufacture new prototypes, build the commercial model, and carry out the flight test campaign. “The continued support from BNDES is essential for the advancement of our eVTOL program and the transition toward certification and production. This financing further strengthens our financial position and enables us to achieve key milestones, including certification and commercialization of our eVTOL,” emphasized Johann Bordais, CEO of Eve.
For his part, Eduardo Couto, the company’s CFO, highlighted that this financing reinforces its leadership in the urban air mobility market, stating that “our disciplined capital management and solid financial base provide the stability needed to execute our long-term strategic plan.”
Brazil’s National Civil Aviation Agency (ANAC) also marked a significant milestone by publishing the final airworthiness criteria for Eve’s eVTOL. This step will allow the company to continue defining the means of compliance required for the certification of its aircraft.
“We are supporting a disruptive and green industry that strengthens energy transition and the national industry. This year, the Bank has already approved 700 million reais for the production of this aircraft,” added Aloizio Mercadante, president of BNDES.
Eve leverages Embraer’s more than five decades of experience in the design, certification, and manufacturing of advanced aircraft, ensuring its future customers access to a global network of services and support essential for safe and efficient operations in the urban air mobility market.
