50 SKY SHADES - World aviation news

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

Download: Printable PDF Date: 24 Dec 2023 07:57 (UTC) categories:
Publisher:
Eve Air Mobility receives ESG financing guarantee from Bradesco Bank in long-term funding - Finance publisher
Dana Ermolenko
Aircraft: Airplanes

Bradesco Bank has concluded with Eve Mobilidade Aérea Urbana, a subsidiary of Eve first ESG financing guarantee operation aligned with the Green Loans Principles, which follows a set of guidelines for structuring loan operations for sustainable purposes. Eve is developing solutions for the global Urban Air Mobility ecosystem, including eVTOL aircraft. 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.

“This is a disruptive innovation project, with high technological intensity, which seeks to address relevant problems for the whole world: the limitations of ground space with increasing population density, the high costs of mobility infrastructure and the emission of greenhouse gases,” said José Luis Gordon, director of Productive Development, Innovation and Foreign Trade of BNDES. BNDES’ support, through the Climate Fund, is in line with the innovation and decarbonization guidelines of the new industrial policies and is another important step in the long-standing partnership between BNDES and Embraer.”

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.

Bruno Boetger, executive director at Bradesco, commented: “It is an innovative operation and represents an important milestone in the sector, demonstrating our commitment to the decarbonisation agenda, investing in more sustainable technologies with lower emissions. This reinforces Bradesco’s partnership with Eve, which has been our partner since 2022. We believe that the ESG financing guarantee will serve as a reference for other companies that wish to adopt more responsible and sustainable practices in their business, an increasing trend in the credit market”, concluded.

Eduardo Couto, chief financial officer of Eve, stated: “At the recent COP28 in Dubai, global leaders discussed strategic actions to accelerate the reduction of global emissions by 2030. Eve’s ESG financing guarantee directly reflects our commitment to sustainability, which is intrinsically linked to our corporate strategy. Our goal goes beyond offering greener solutions for urban air mobility; we are focused on building a value chain aligned with the best-in-market practices.”

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.



Loading comments for Eve Air Mobility receives ESG financing guarantee from Bradesco Bank in long-term funding...


Recommended

Silk Avia introduces first new ATR 72-600 in Central Asia

Nordic Aviation Capital and ATR announced successful delivery of first new ATR 72-600 to Uzbekistan airline Silk Avia. This milestone marks the beginning of a new era for regional...

Successful start for INTEGRAL E, electric French two-seater

Take-off time for AURA AERO all-electric two-seater INTEGRAL E is approaching fast. Today, on the tarmac of Toulouse-Francazal airport, the engine of the INTEGRAL E prototype...

Embraer and CAE inaugurate Asia Pacific first E-Jets E2 full flight simulator in Singapore

Embraer and CAE officially inaugurated the Asia Pacific region first E-Jets E2 full flight simulator in Singapore. E-Jets E2 training is the latest program offered by the recently...

Airbus forecasts strong demand for freight market in Asia-Pacific

Asia-Pacific region continues to demonstrate robust economic growth and dynamic trade activities, Airbus forecasts demand for around 400 widebody freighters in the region, over the next 20 years,...

Mobile Apps development The drones news