Eve Air Mobility, an urban air mobility startup created by Embraer, announced that it has received a new investment worth US$94 million.
The contribution was made possible by the issuance of new common shares and subscription options made by Embraer, Nidec and other financial investors.
The resources will be used to continue the development of the Eve-100 eVTOL and preparation for its series production.
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“We appreciate the trust that these investors are placing in Eve. The new resources, together with the existing cash and credit lines, ensure an excellent positioning for Eve as it continues to advance the development and manufacturing of eVTOL”, said Eduardo Couto, director Eve’s finances.
Eve claims to have “the largest pre-order backlog in the industry, with letters of intent to purchase for up to 2,900 aircraft and strong program development partners.”
The transaction closed on June 28 with the issuance and sale of 23,500,000 new shares at a purchase price of $4.00 per share, the exchange of certain stock options for shares of common stock and the grant of new stock options subscription for certain investors.
The announcement comes amid the final assembly of the first full-scale eVTOL prototype, which will make its maiden flight by the end of 2024.
Eve is also developing a portfolio of complementary solutions to enable eVTOL flights that include Vector, an Urban Air Traffic Management (Urban ATM) software to optimize and expand UAM operations around the world.
Eve plans to put its electric aerial vehicle into service in 2026.
