Eve Air Mobility secures up to $15 million in guaranteed loans

Eve Air Mobility (NYSE: EVEX; EVEXW) announced an agreement with the Export-Import Bank of the United States and Private Export Funding Corporation to provide financing for expenses with U.S. suppliers working on the company's electric vertical takeoff and landing aircraft program.

The aggregate guaranteed loan amount can reach up to $15 million, according to a company statement. Eve will use the funding to procure batteries and engineering services from U.S. supplier BAE Systems during the eVTOL aircraft development and test phase.

BAE Systems will supply battery systems for integration into Eve's eVTOL aircraft as part of the financing arrangement. The agreement includes BAE Systems' batteries as part of Eve's overall eVTOL sale and export package for international buyers.

"This agreement underscores EXIM Bank's confidence in Eve's business model and the strong future of urban air mobility," said Eduardo Couto, chief financial officer at Eve Air Mobility. "It will empower Eve's U.S. supply chain by providing critical financial flexibility, accelerating the adoption of sustainable air travel globally."

The financing provides support during development and testing phases while ensuring participation by U.S. suppliers in Eve's eVTOL program. Eve Air Mobility, backed by Embraer's aerospace expertise, is developing electric aircraft for urban air mobility applications.

The company trades on the New York Stock Exchange under symbols EVEX and EVEXW, and on the São Paulo Stock Exchange as EVEB31.

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