The Future of Advanced Air Mobility

Eve Sales Commitments Mount as the Embraer Unit Readies for Wall Street Listing

Just over a week ahead of closing a business combination with Zanite Acquisition and a New York Stock Exchange listing on May 9, Eve Urban Air Mobility said the number of provisional sales commitments received for its planned four-passenger eVTOL aircraft has reached 1,825. In an April 29 statement, the subsidiary of Brazilian aircraft manufacturer Embraer also confirmed that it plans to publish an air taxi concept of operations for Rio de Janeiro.

Depending on how many of Zanite's current investors redeem their shares on completion of the deal announced in December 2021, Eve says it could raise more than $500 million in new capital. The business combination is backed by a $357.3 million private investment in public equity that now includes an additional $52.3 million pledged by additional strategic partners including Thales, Acciona, and Space Florida. Embraer, which will remain the majority owner of the new Eve Holding business with an anticipated 82 percent stake, also has increased its investment in it.

Having now secured letters of intent from 19 customers, Eve highlighted developments including the previously announced publication of a concept of operations (Conops) for urban air mobility (UAM) operations in Miami-Dade County and the UK, as well as the expected publication in the coming weeks of a new Conops for planned eVTOL air taxi services in the Brazilian mega-city Rio de Janeiro. The company also plans to develop a Conops plan for the Japan Civil Aviation Bureau and continues to work with other regulators, communities, and partners in Australia, Europe, and the Americas.

The new Conops for Rio de Janeiro will combine analyses that cover the perspective, points of attention, and operational needs of eVTOL vehicles, passenger journey, and services and support. To simulate a UAM “ecosystem,” the Rio CONOPS will include data from helicopter flight operations completed in November 2021 between Rio’s Barra da Tijuca neighborhood and Galeão International Airport.

Meanwhile, Eve says it is advancing key technical milestones, such as the completion of proof-of-concept and wind-tunnel tests and simulations needed for type certification of its eVTOL vehicle, for which the company formalized an application with Brazilian certification authority ANAC in February. It is aiming to have the aircraft certified in 2026.