Eve Air Mobility (“Eve”), took part in the opening bell ceremony at Brazil’s stock exchange (B3), in São Paulo, to celebrate its listing on the Brazilian stock exchange, which occurred in August of this year.
Eve’s listing in Brazil, complementing its presence on the New York Stock Exchange since 2022, aligns with the company’s strategy to diversify its shareholder base, expand access to investors across different markets and strengthen the capital structure required to support its program.
During the ceremony, Eve announced the approval of approximately $40 million financing package from Brazil’s National Bank for Economic and Social Development (BNDES). The funds will support the integration phase and operation of the electric motors for the company’s first certification aircraft, as well as preparations for the test campaign required to obtain the type certificate from Brazil’s National Civil Aviation Agency (ANAC).
Structured under the BNDES Climate Fund (Green Industry modality) and the FINEM Innovation line (Incentivized Line A), the new operation consists of two subcredits—~US$32 million from the Climate Fund and ~US$8 million in BNDES resources raised in foreign currency—with a total term of up to 15 years.
Speaking at the Brazilian stock exchange celebration, Eduardo Couto, Eve’s CFO, said: “This financing accelerates a critical phase of our program: the integration of the electric propulsion system, which will ensure performance, safety and reliability for our first certifiable aircraft. We thank BNDES for its trust and continued support of our vision to transform urban mobility with efficient and sustainable solutions developed and manufactured in Brazil.”
Aloizio Mercadante, President of BNDES, added: “The manufacturing of the eVTOL represents disruptive innovation in the concept of urban mobility. This aircraft will connect key points in major cities and metropolitan regions with far lower greenhouse gas emissions than conventional helicopters and cars.”
The new credit line announced at B3, with participation from senior leadership from Eve, Embraer, and BNDES, along with customers and partners, reinforces the strong partnership between the organizations. Since 2022, BNDES has provided more than $240 million in financing to Eve, consolidating the company’s financial foundation to bring its eVTOL to certification and launch commercial operations.
