Eve Air Mobility has secured funding in an agreement with the Export-Import Bank of the United States (EXIM Bank) and the Private Export Funding Corporation (PEFCO).
The deal will provide financing for expenses with US suppliers working on Eve's electric vertical takeoff and landing (eVTOL) programme. Eve Air will use the funding to procure batteries and engineering services from its US supplier, BAE Systems, during Eve's eVTOL aircraft development and test phase.
“This agreement with the EXIM Bank is an essential step in the continuous de-risking of Eve's programme, bringing new funding sources with the support of the US Export Credit Agency (EXIM Bank) to finance expenses with critical US suppliers,” said Eve Air Mobility. “The financing provides additional support during the development and testing phases, ensuring greater participation by US suppliers in Eve's eVTOL program.”
BAE Systems will supply its battery systems for integration into Eve's eVTOL aircraft. Eve said this will ensure its aircraft are equipped with “high-performance, reliable, and safe energy storage solutions”. Including these batteries into the Eve eVTOL sale and export package will streamline the procurement phase for international buyers, offering a comprehensive, integrated solution.
“This agreement underscores EXIM Bank's confidence in Eve's business model and the strong future of urban air mobility,” said Eve Air Mobility chief financial officer Eduardo Couto. “It will empower Eve's US supply chain by providing critical financial flexibility, accelerating the adoption of sustainable air travel globally.”