• This is the first grant (non-repayable funding) awarded to Eve, supporting the company’s commitment to innovation and sustainability
• The grant is part of a total project investment of up to $33.8 million, including Eve’s contribution
São Paulo, Brazil – June 3, 2025 – Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW) announced today that it has been selected in a public call by FINEP, Brazil’s Funding Authority for Studies and Projects, to receive a grant of up to $15.8 million[1]. The total project investment amount is up to $33.8 million[2], combining the FINEP grant with Eve’s required company contribution. This is the first grant (non-repayable funding) awarded to Eve, reinforcing the company’s leadership in developing innovative solutions for sustainable urban air mobility.
The grant, awarded under FINEP’s public selection for “Technologies for More Sustainable Aviation”, is aligned with the strategic focus areas defined by the call, such as autonomous flight systems, advanced energy storage, hybrid-electric and hydrogen propulsion, sustainable aviation fuel (SAF) testing, noise reduction, efficient aircraft configurations, new materials, and advanced air traffic management systems for advanced air mobility (AAM). Eve’s project will prioritize the areas most relevant to its innovation roadmap.
“This partnership with FINEP marks a pivotal milestone for Eve and the broader Brazilian aerospace ecosystem”, said Johann Bordais, CEO of Eve Air Mobility. “Our mission is to reimagine people’s relationship with time, space, and the city by creating safe, sustainable, and efficient air mobility experiences. Leveraging from Embraer’s 55-year legacy and our innovative mindset, this grant will enable us to accelerate the development of advanced digital solutions and technologies that will shape the future of urban air mobility in Brazil and beyond”.
Luiz Mauad, Vice President of Customer Services at Eve, added: “Supporting the future operation of eVTOLs requires a robust digital backbone — this is the foundation for scalable AAM operations. By developing our digital platforms and service solutions in parallel with our aircraft, we empower our customers with an integrated, one-stop-shop experience that ensures operational efficiency, safety, and high availability from day one”.
Elias Ramos de Souza, President of FINEP, stated that: “This project represents our belief that eVTOLs are a future disruptive trend in the UAM scenario. We are very glad to partner with Eve in this endeavor, in a funding that enhances our position of more than BRL 1 billion in support to Embraer and its investees.”
A central pillar of this project is the advancement of Eve’s digital ecosystem, including the continued development of Eve TechCare — its fully integrated aftermarket services platform. Eve TechCare is a pioneer all-in-one suite of solutions designed to streamline eVTOL operations by providing the industry’s most comprehensive services, expert customer support, and cutting-edge operational solutions. The aftermarket portfolio consists of technical support and solutions, MRO services, parts and battery solutions, as well as training services and flight operations solutions. Eve TechCare’s service and support solutions will cover all the operational aspects necessary to ensure the daily eVTOL operation.
The company is advancing the current stage of the eVTOL development, which involves a series of comprehensive tests with the prototype to evaluate every aspect of the aircraft’s operation and performance, from flight capabilities to safety features.
Equivalent amount in US dollars; BRL 90 million in local currency (Brazilian real – BRL).
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About Eve Air Mobility
Eve Air Mobility is dedicated to accelerating the Urban Air Mobility (UAM) ecosystem. Benefitting from a start-up mindset, backed by Embraer’s 55-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve is listed on the New York Stock Exchange where its shares of common stock and public warrants trade under the tickers “EVEX” and “EVEXW”. For more information, please visit www.eveairmobility.com.
About FINEP
As a government agency linked to Brazil’s Ministry of Science, Technology, and Innovation (MCTI), Financiadora de Estudos e Projetos (FINEP) plays a pivotal role in advancing the nation’s economic and social progress. FINEP drives innovation by providing vital public funding, utilizing instruments such as grants and loans, to support science, technology, and innovation initiatives. Its comprehensive support extends across the entire innovation lifecycle, benefiting companies, universities, and research institutions engaged in strategic projects crucial for Brazil’s sustainable development and transformation.
Forward-Looking Statement Disclosure
Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “forecast” and other similar words or expressions. All statements, other than statements of historical facts, are forward-looking statements, including, but not limited to, statements about the company’s plans, objectives, expectations, outlooks, projections, intentions, estimates, and other statements of future events or conditions, including with respect to all companies or entities named within. These forward-looking statements are based on the company’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from the information in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein as well as in Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of the company’s most recent Annual Report on Form 10-K, Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors of the company’s most recent Quarterly Report on Form 10-Q, and other risks and uncertainties listed from time to time in the company’s other filings with the Securities and Exchange Commission. Additionally, there may be other factors of which the company is not currently aware that may affect matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The company does not assume any obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements. other than as required by law. Any forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.
[1] Equivalent amount in US dollars; BRL 90 million in local currency (Brazilian real – BRL).
[2] Equivalent amount in US dollars; BRL 191 million in local currency (Brazilian real – BRL).
