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Eve Air Mobility Secures $40M BNDES Loan and Lists on B3 Exchange

Eve Air Mobility obtains $40 million financing from Brazil’s BNDES and lists on the B3 stock exchange, supporting eVTOL development with 2027 service entry.

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This article is based on an official press release from Eve Air Mobility / Embraer and supporting market data.

Eve Air Mobility Strengthens Financial Runway with B3 Listing and $40 Million BNDES Loan

Eve Air Mobility (“Eve”), the electric vertical take-off and landing (eVTOL) subsidiary of aerospace manufacturer Embraer, has executed a significant dual-strategy milestone to fortify its position in the urban air mobility sector. On December 9, 2025, the company celebrated its official listing on the Brazilian stock exchange (B3) while simultaneously announcing a fresh Investments package worth approximately $40 million (R$200 million) from Brazil’s National Development Bank (BNDES).

The new capital injection, sourced primarily from the BNDES Climate Fund, is earmarked for the critical development phases of Eve’s eVTOL program. According to the company’s announcement, these funds will support the integration of electric motors for the program’s first “certification-conforming” prototype and fund the rigorous test campaigns required by Brazil’s Civil Aviation Agency (ANAC). This latest development underscores the Brazilian government’s continued support for Eve as a strategic national asset in the global aerospace industry.

Strategic Financing via BNDES Climate Fund

The financing agreement, valued at R$200 million, is structured not as a standard commercial loan but as a strategic development credit designed to foster Green-Technology within Brazil. The funding is divided into two specific sub-credits, providing Eve with a 15-year maturity term that offers a long-term financial runway.

According to details released regarding the transaction, the financing is split as follows:

  • Sub-credit A (~$32 million): Sourced from the Fundo Clima (Climate Fund) under the “Green Industry” modality. This capital is specifically allocated for projects that reduce greenhouse gas emissions and promote sustainable urban development.
  • Sub-credit B (~$8 million): Sourced from the FINEM Innovation Line, utilizing BNDES resources raised in foreign currency to support technological innovation.

This latest infusion brings the total support from BNDES to Eve to over $240 million since 2022. The favorable terms and long maturity period reflect the state’s commitment to ensuring Eve remains competitive against well-capitalized international rivals.

Dual Listing on the B3 Exchange

Coinciding with the funding announcement, Eve formally debuted on the B3, Brazil’s primary stock exchange, under the ticker symbol EVEB31. While the company remains legally headquartered in the United States with its primary listing on the New York Stock Exchange (NYSE: EVEX), the dual listing allows Eve to tap into a broader pool of capital.

The move enables Brazilian institutional and retail investors, who may face barriers trading on the NYSE, to invest directly in the company. This strategy reinforces Eve’s identity as a Brazilian innovator leveraging Embraer’s industrial heritage while maintaining global market access.

Program Status and Industrialization

Eve continues to leverage its relationship with Embraer, the world’s third-largest aircraft manufacturer, to advance its industrial capabilities. The company is currently finalizing its first full-scale prototype and establishing a production facility in Taubaté, São Paulo. The facility is expected to utilize Embraer’s existing supply chain ecosystem to streamline Manufacturing.

According to company data, Eve currently holds one of the industry’s largest order backlogs, comprising approximately 2,800 Letters of Intent (LOIs) valued at roughly $14 billion. The company is targeting an Entry into Service (EIS) date of 2027.

AirPro News Analysis

The global eVTOL market is currently undergoing a sharp bifurcation, separating well-capitalized leaders from struggling independent Startups. Eve’s recent moves highlight the effectiveness of its “capital-light” strategy, which relies on Embraer for R&D and infrastructure rather than building everything from scratch.

While competitors like Joby Aviation have raised massive sums, such as their recent $500 million investment from Toyota, to fund vertical integration, Eve’s $40 million loan carries significant weight due to its efficiency. By utilizing Embraer’s existing testing grounds and engineering workforce, every dollar of debt goes further for Eve than for a startup like Lilium, which recently faced insolvency.

Furthermore, the BNDES loan signals “sovereign backing.” In an industry fraught with regulatory and certification risks, the Brazilian government’s financial stake in Eve serves as a confidence signal to private investors. It suggests that Brazil views the success of Eve not just as a corporate goal, but as a matter of national industrial strategy, similar to how the U.S. and China support their respective aerospace champions.

Frequently Asked Questions

What are Eve Air Mobility’s stock tickers?
Eve is listed on the NYSE under the ticker EVEX and now on the Brazilian B3 exchange under the ticker EVEB31.

What is the value of the new BNDES financing?
The financing package is worth approximately R$200 million, or roughly $40 million USD.

When is Eve’s aircraft expected to enter service?
Eve is targeting an Entry into Service (EIS) date of 2027.

What is the BNDES Climate Fund?
The Fundo Clima is a Brazilian government financing program dedicated to projects that mitigate climate change. Eve’s participation falls under the “Green Industry” modality, supporting the development of zero-emission aviation technology.

Sources: Eve Air Mobility / Embraer Press Release, BNDES Official Data

Photo Credit: Embraer

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Sustainable Aviation

United Airlines Extends Neste SAF Supply Deal Through 2027

United Airlines and Neste extend SAF supply at Chicago O’Hare and Amsterdam Schiphol through mid-2027 after doubling fuel volume in 2025.

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United Airlines and Neste Corporation have extended their supply agreement for sustainable aviation fuel at Chicago O’Hare International Airport (ORD) and Amsterdam Airport Schiphol (AMS), securing deliveries through mid-2027. The extension supports the carrier’s expanding use of alternative fuels, which doubled in volume during the 2025 calendar year.

In a press release issued on September 16, 2026, Neste confirmed that deliveries under the extended contract began at Amsterdam in June 2026 and at Chicago O’Hare in July 2026. While the Amsterdam supply concluded in August 2026, the Chicago deliveries are scheduled to continue until June 2027. The agreement reinforces a long-standing partnership between the two companies, as United Airlines was the first carrier globally to utilize blended sustainable aviation fuel (SAF) in regular commercial operations.

Expanding SAF utilization across the United network

United Airlines has steadily increased its integration of SAF, consuming 83,000 metric tons (approximately 27.7 million gallons) in 2025. This represents a 104 percent year-over-year increase in the airline’s SAF usage. The carrier now utilizes the fuel at six of its seven domestic hubs, following recent supply expansions to Newark Liberty International Airport (EWR), Washington D.C., and Houston.

Under current aviation regulations, SAF is certified for commercial use at a maximum blending ratio of 50 percent with conventional jet fuel. United Airlines previously became the first operator to purchase and use blended SAF at Chicago O’Hare in August 2024.

Lauren Riley, Chief Sustainability Officer at United Airlines, highlighted the operational history behind the extended agreement.

“United was the first airline in the world to fly on blended SAF in regular operations, and we’ve spent the years since proving it can work at scale in day-to-day flying, including being the first airline to purchase and use blended SAF at Chicago O’Hare. Continuing our work with Neste across two continents reflects a shared conviction that SAF is available and capable of being scalable.”

Neste’s production capacity and feedstock strategy

Neste currently maintains a global SAF production capability of 1.5 million metric tons (approximately 515 million gallons) per year. The company projects this capacity will increase to 2.2 million metric tons (around 750 million gallons) in 2027, following the completion of an expansion project at its Rotterdam refinery.

To support this scaling production, the manufacturer is actively securing agricultural supply chains. On September 10, 2026, Neste and Bayer finalized a commercial agreement to jointly scale the production of newgold winter canola in the Southern Great Plains of the United States. This partnership is designed to strengthen the supply of lower-carbon-intensity feedstocks required to meet the growing global demand for biofuels.

Carl Nyberg, Senior Vice President of the Commercial, Renewable Products business at Neste, stated that the continued supply at major hubs demonstrates the viability of the fuel alternative.

“This extended agreement with United Airlines covering two international airports across two major aviation regions is a testament to our joint belief in the critical role of SAF in reducing aviation related GHG emissions. By continuing to make SAF available at two of United’s key hubs, we are proving that SAF is a readily available, scalable solution, and we look forward to continuing our longstanding collaboration.”

AirPro News analysis

We note that securing consistent SAF supply at major hubs like Chicago O’Hare remains a critical bottleneck for airlines attempting to meet greenhouse gas (GHG) reduction targets. United’s ability to double its SAF uptake in a single year demonstrates aggressive procurement, but the total volume of 27.7 million gallons remains a fraction of the airline’s overall annual fuel consumption. Neste’s parallel moves to secure agricultural feedstock through partnerships like the recent Bayer agreement indicate that producers are actively working to mitigate supply chain constraints ahead of the anticipated 2027 refinery capacity increases.

Sources: Neste Corporation

Photo Credit: Neste Corporation

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Technology & Innovation

Electra and Atlas Group Sign EL9 Airframe Manufacturing Deal

Electra and The Atlas Group agree to build EL9 Ultra Short prototypes in Wichita, targeting FAA Part 23 certification by 2029.

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Electra and The Atlas Group signed an agreement on September 15, 2026, to manufacture and assemble airframes for the EL9 Ultra Short hybrid-electric aircraft. The partnership transitions the aircraft program from its technology demonstration phase into prototype production and certification.

Announced in a company press release, the agreement designates Atlas’s facilities in Wichita, Kansas, as the manufacturing site for the initial G0 and G1 prototype and flight-test aircraft. Manufacturing work is scheduled to begin in September 2026, with the first airframe deliveries expected in 2027.

Manufacturing the G0 and G1 prototypes

Electra Chief Executive Officer Marc Allen stated the agreement provides the ability to build the aircraft with the consistency and scale of an advanced production system.

“Atlas, with its manufacturing expertise and aerospace discipline, now joins us in turning the EL9 from a new kind of airplane into a new way of connecting communities,” Allen said.

The Atlas Group Chief Executive Officer Greg Harwell noted the company will leverage its aerospace manufacturing and supply chain expertise to bridge the gap between innovation and production for the nine-passenger aircraft.

Certification pathway and production scale

The EL9 Ultra Short is designed to take off and land in a minimum runway distance of 150 feet. The aircraft utilizes distributed hybrid-electric propulsion and blown lift aerodynamics. Electra previously secured a life-of-program agreement with Safran to supply the TG600 turbogenerator that will power the EL9.

The Federal Aviation Administration (FAA) formally established the certification basis for the EL9 in July 2026. Electra is targeting FAA Part 23 type certification by 2029. The manufacturer currently holds letters of intent for more than 2,200 aircraft from over 60 prospective operators.

Beyond the initial prototype builds in Wichita, Electra has committed to an $850 million investment to construct a permanent production facility in Springfield, Ohio.

AirPro News analysis

We view the selection of an established aerospace supplier like The Atlas Group as a critical de-risking step for Electra. Transitioning from subscale demonstrators, such as the EL2 aircraft flown earlier in 2026, to full-scale conforming prototypes is historically where advanced air mobility manufacturers face the steepest industrial challenges. By outsourcing the initial G0 and G1 airframe builds to a Wichita-based manufacturer with existing aerospace infrastructure, Electra can maintain its 2027 flight-test timeline while simultaneously developing its permanent Ohio production footprint.

Sources: Electra aero via PR Newswire

Photo Credit: Electra aero

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Technology & Innovation

Skyports Wins Nine AAM Subsidy Projects Across Japan in 2026

Skyports Infrastructure secured nine AAM subsidy projects across six Japanese prefectures with a 100% application success rate.

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Skyports Infrastructure has secured nine Advanced Air Mobility (AAM) subsidy projects across six Japanese prefectures for 2026, achieving a 100 percent success rate on its applications for the year.

Announced in a company press release on September 15, 2026, the project wins span Osaka, Hyogo, Oita, Yamanashi, Shizuoka, and Mie prefectures. The geographic spread indicates a shift in the Japanese AAM market from Commercial-Aircraft development milestones toward the practical Manufacturing and commercial planning required to launch passenger services.

Regional Infrastructure and Feasibility Projects

The nine projects involve Partnerships with major Japanese corporations to evaluate vertiport locations, commercial feasibility, and network integration. In Hyogo Prefecture alone, Skyports and Kanematsu Corporation will lead four separate projects covering Sumoto City on Awaji Island, Kinosaki Onsen, the Kobe Waterfront, and Arima Onsen.

In Osaka, the two companies are developing the basic design and business case for a future maintenance, repair, and overhaul (MRO) facility in Osaka City, alongside vertiport candidate site evaluations. Further east, Skyports is working to integrate a vertiport around the Linear Chuo Shinkansen station in Yamanashi Prefecture, while partnering with Suzuyo Corporation for business feasibility and site surveys in the Shizuoka City area.

Strategic Partnerships in Mie and Oita

The subsidy wins follow a series of regional agreements established earlier in the year. On August 3, 2026, Skyports and Mitsui Fudosan Co., Ltd. announced their selection for a feasibility study in Mie Prefecture. This project, which also includes Ise-Shima Resort Management Co., explores an air taxi network across the Chubu and Kansai regions. The study evaluates passenger demand, flight routes, and the integration of AAM infrastructure with existing rail, road, marine transport, and airport facilities.

In southwestern Japan, Oita Prefecture formalized a partnership agreement with Skyports on September 2, 2026. Working alongside Kyushu Railway Company (JR Kyushu), the Oita project focuses on commercial feasibility studies and identifying potential vertiport locations. Oita Prefecture officials expect AAM vehicles to address vulnerabilities in regional transportation infrastructure and are targeting commercial operations by 2028.

Masashi Taruta, Japan Country Manager at Skyports Infrastructure, stated that securing the projects is a strong endorsement of the company’s expertise in the region.

“From Osaka and Hyogo to Oita, Yamanashi, Shizuoka and Mie, we’re working alongside some of Japan’s leading companies to turn AAM ambitions into credible, deliverable infrastructure plans,” Taruta said. “The breadth of these projects demonstrates the momentum building across Japan, and we’re proud to be a trusted partner helping lay the foundations for future commercial operations.”

AirPro News analysis

We view Skyports’ 100 percent application success rate as a clear indicator of the Japanese government’s commitment to accelerating AAM deployment. By distributing subsidies across six distinct prefectures rather than concentrating them in a single metropolitan hub, local authorities are fostering a decentralized approach to early AAM adoption. The involvement of established domestic entities like JR Kyushu and Mitsui Fudosan suggests that vertiport infrastructure will be heavily integrated into existing transit and real estate networks, rather than operating as standalone Airports facilities.

Sources: Skyports Infrastructure

Photo Credit: Skyports

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