Brazil’s National Development Bank (BNDES) will support Eve Air Mobility’s eVTOL development efforts with two distinct credit lines, totaling US $92.5 million.
Both credit lines are expected to offer beneficial terms and conditions to Eve with a 12-year maturity and amortization grace period. The first credit line is expected to be granted by the Climate Fund that is designed to provide financing to support businesses and projects that help mitigate climate change and reduce carbon emissions. Urban mobility is one of its nine sub-programs.
The second line of credit is expected to be granted by the Innovation Finance, a BNDES program that provides long-term funding for disruptive industrial projects that generate social benefits, such as urban mobility, energy generation, education, sewage, among others.
“We appreciate the confidence and support that BNDES is showing to Eve as we continue to progress the development of a zero-emission aircraft with a commitment to a full-life cycle approach towards carbon neutrality,” said André Stein, co-CEO of Eve. “Not only will this foster innovation, but will support the emergence of a more sustainable form of aviation, our eVTOL aircraft, which will transform the industry and urban air mobility, reducing noise and the cost of flying. BNDES will be a critical partner to help Eve complete the design of our portfolio of products and services.”
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