Eve Air Mobility has secured $150 million in debt financing from a syndicate of financial institutions.
Proceeds will support Eve's research and development, including the integration of its electrical vertical take-off and landing (eVTOL) aircraft into a “comprehensive urban air mobility ecosystem".
The five-year loan included Itau, Banco do Brasil, Citibank, and Mitsubishi UFJ Financial Group.
"This successful debt raise represents a significant milestone for Eve and a strong endorsement of our leadership in shaping the future of urban air mobility," said Eduardo Couto, chief financial officer at Eve Air Mobility. "The confidence of large banks reinforces our commitment to delivering a fully integrated eVTOL ecosystem.
“This financing provides long-term resources necessary to accelerate development, advance certification, and execute our strategic roadmap through 2028 and beyond.”
Eve said the funding will support technological process and its partnerships with infrastructure providers and regulatory bodies. This will help the company advance the certification and commercialisation of its eVTOL aircraft.
With this deal, the company's total funding has now reached $1.2bn.