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Eve Air Mobility receives ESG financing guarantee from Bradesco Bank in long-term funding

Bradesco Bank has concluded with Eve Mobilidade Aérea Urbana, a subsidiary of Eve Air Mobility and a spin-off from Embraer, the first ESG financing guarantee operation aligned with the Green Loans Principles (2023 version), which follows a set of guidelines for structuring loan operations for sustainable purposes.

Eve says it is developing solutions for the global Urban Air Mobility (UAM) ecosystem, including an electric vertical take-off and landing (eVTOL) aircraft. According to the press release “The total amount guaranteed is up to R$490 million and will be allocated exclusively to the development of Eve’s eVTOL.

“The line of credit was approved by Brazil’s National Development Bank (BNDES) from the Finem Line and the Climate Fund, whose objective is to support the implementation of projects and technological development related to the reduction of greenhouse gas emissions and adaptation to climate change and its effects.

“To date, proceeds totalling R$127 million have been issued. Bradesco will allocate new proceeds gradually, according to BNDES’ disbursement to Eve, who maintains the industry’s leading backlog of 2,850 eVTOL aircraft.

“Eve’s eVTOL is fully electric with a lower sound footprint than conventional aircraft and provides zero local emissions. Designed for urban travel, it will offer commuters safe, efficient, comfortable and more sustainable journeys within cities around the world. Eve expects first deliveries and entry into service as soon as 2026 and its customers include United Airlines, Republic Airways, Helisul Aviação, and VOAR, among others. To date in Brazil, Eve has orders for up to 335 eVTOL aircraft.”

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(Image: Eve Air Mobility) 

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