Brazil’s development bank takes stake in Embraer’s Eve Air Mobility project
Eve Air Mobility, Embraer’s urban air mobility subsidiary, has secured a new strategic partner as Brazil’s development bank BNDES invested US$ 74.9 million in the company. The move gives the institution a 4.4% ownership stake, reinforcing Eve’s capital structure and supporting its research and development activities.
The investment was carried out through BNDESPar, the equity arm of the bank, via a private placement of Brazilian Depositary Receipts (BDRs) backed by Eve’s shares traded in the United States.
According to the bank’s president Aloizio Mercadante, the operation reflects a broader strategy to support projects in decarbonization and innovation, with Eve’s eVTOL program representing both.
“This support is a strategic step to place Brazil at the forefront of sustainable air mobility,” Mercadante said.
Eve is developing a five-seat eVTOL (four passengers plus pilot) with a range of 100 km, designed for short urban connections. The company expects to begin commercial operations in 2027, once it obtains type certification from Brazil’s civil aviation authority (ANAC). Production will take place in Taubaté, São Paulo state.
Eve’s CEO Johann Bordais emphasized the importance of the capital injection:
“This fundraising is an important milestone, contributing to our vision and mission to transform urban mobility.”
In addition to the eVTOL itself, Eve is working on air traffic management software and advanced technologies such as electric propulsion, autonomous systems and digital connectivity, aiming to create a full ecosystem for the emerging urban air mobility market.
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Ricardo Meier
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