Eve Air Mobility has received a $35 million investment from Brazil's National Development Bank (BNDES) to further its electric vertical take-off and landing (eVTOL) aircraft programme. This funding builds on previous financial backing, including a $92.5 million credit line secured in 2022 for research and development and a recent $50 million investment from Citibank. The BNDES funding, sourced from the Brazilian Climate Fund, will be used to manufacture conforming prototypes of Eve's eVTOL aircraft and support rigorous testing. The investment highlights Brazil's commitment to fostering advanced air mobility (AAM); BNDES has played a critical role in advancing Eve's ambitions for urban air travel. The announcement comes after the Brazilian National Civil Aviation Agency (ANAC) published final airworthiness criteria for Eve’s eVTOL. This regulatory milestone allows Eve to advance towards full type certification by defining compliance standards in collaboration with ANAC.
"The continued support from BNDES is highly significant as we advance our eVTOL programme and transition from prototype development to certification and production readiness," said Johann Bordais, CEO of Eve. "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."
Eduardo Couto, CFO of Eve, added: "This investment is a vote of confidence in Eve's vision and strengthens our leadership position in the AAM market. 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 our eVTOL to market and capitalize on the growing opportunities in this exciting industry."
