Eve Air Mobility Raises $230M to Fund eVTOL Certification Push

Eve Air Mobility announced a $230 million capital raise to accelerate development, certification, and early production of its electric vertical takeoff and landing (eVTOL) aircraft. The Embraer-backed company will raise the funds through a registered direct offering of 47.4 million shares priced at $4.85 per share.

Strategic Funding and Dual Listing

The capital raise includes subscription agreements with Embraer and BNDESPAR, the investment arm of the Brazilian Development Bank. Eve is implementing a dual listing strategy, with Brazilian Depositary Receipts (BDRs) approved for trading on São Paulo's B3 stock exchange under ticker EVEB31. This expansion broadens access for Brazilian investors while maintaining the company's New York Stock Exchange presence.

Certification and Production Timeline

Proceeds will fund Eve's four-passenger aircraft program and urban air mobility solutions development. The company aims to navigate critical certification milestones with regulators including Brazil's ANAC, the FAA, and EASA. The offering is expected to close by August 15, 2025, providing financial runway for the eVTOL program's progression toward industrialization and commercial operations.