Eve Air Mobility, a subsidiary of Embraer (EMBR3), developer of the eVTOL, an electric vertical take-off and landing aircraft, announced this Tuesday a financing of R$200 million from the National Bank for Economic and Social Development (BNDES).
During an event at B3 to celebrate its listing on the Brazilian stock exchange, the company explained that the resources will be dedicated to the integration and operation of the electric engines of the first certification aircraft. It will also prepare the vehicle for the test campaign to obtain the type certificate from the National Civil Aviation Agency (Anac).
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Structured within the scope of the BNDES Climate Fund Program (Green Industry Modality) and FINEM Innovation (Incentive Line A), the new operation includes two subcredits — R$160 million from the Climate Fund and R$40 million in BNDES resources raised in foreign currency — and has a total term of up to 15 years.
“This financing accelerates a critical stage of our program: the integration of the electric propulsion system, which will guarantee performance, safety and reliability to our first certifiable aircraft. We thank BNDES for their trust and continued support of our vision of transforming urban mobility with efficient and sustainable solutions, developed and industrialized in Brazil”, said Eduardo Couto, CFO of Eve.
Eve, listed on the New York Stock Exchange (NYSE) since 2022, announced its dual listing in Brazil in August. The company had announced a capital increase with a subscription agreement from BNDESPAR, a subsidiary of BNDES, including the company’s BDRs.
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“The manufacturing of the eVTOL is a disruptive innovation in the concept of urban mobility, with a vehicle that will connect the main points of large cities and metropolitan regions, with lower greenhouse gas emissions than helicopters and conventional cars”, stated the president of BNDES, Aloizio Mercadante.
The partnership between Eve, Embraer and BNDES, their clients and partners, has already totaled more than R$1.2 billion in financing since 2022.
