Eve Air Mobility (Eve) has announced a US$35 million investment from Brazil's National Development Bank (BNDES), further strengthening its financial position to advance the development of its electric vertical take-off and landing (eVTOL) aircraft. This funding, sourced from BNDES' Climate Fund, will support the production of conforming prototypes, testing processes, and eventual commercial manufacturing.
This marks the second phase of funding from BNDES, following a US$92.5 million line of credit secured in 2022 for research and development. It complements Eve's recent US$50 million investment from Citibank, underscoring the company's commitment to innovation and leadership in the Advanced Air Mobility (AAM) sector.
Eve CEO Johann Bordais highlighted the significance of the continued support: “”The continued support from BNDES is highly significant as we advance our eVTOL programme 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 aircraft.”
The National Civil Aviation Agency of Brazil (ANAC) recently finalised airworthiness criteria for Eve's eVTOL aircraft, an essential step toward type certification. Following a public consultation process, Eve will now define its means of compliance with ANAC.
BNDES President Aloizio Mercadante emphasised the broader impact of the funding: “BNDES was instrumental in installing the eVTOL aircraft factory in Taubaté, guaranteeing quality jobs in the region. Now, we are financing the development of the aircraft itself. In addition to supporting an innovative project, we are investing in a disruptive technology industry that is also green, contributing to the strengthening of the national industry in the world market and to the energy transition. In total, the bank has already approved, this year, R$700 million for the production of Eve's eVTOL aircraft.”
This latest funding milestone solidifies Eve's leadership in the growing AAM market, positioning the company to meet increasing global demand for sustainable air mobility solutions.
