Embraer's Eve gets ESG financing from BNDES, Bradesco

Eve Holding

21/12/2023 11:01

SAO PAULO, Dec 21 (Reuters) - Electric aircraft maker
Eve  EVEX.N  has obtained a long-term ESG financing of up to 490
million reais ($99.71 million) provided by Brazil's state
development bank BNDES and guaranteed by lender Bradesco
 BBDC4.SA , it said on Thursday.
    Eve, which is controlled by Brazilian planemaker Embraer
 EMBR3.SA , said in a statement that money from the credit line
would be exclusively destined to the development of its electric
vertical take-off and landing (eVTOL) aircraft.
    Credits totaling 127 million reais have been issued so far,
with Bradesco set to allocate new proceeds gradually as BNDES
makes disbursement to Eve. 
    The Embraer firm has an order backlog of 2,850 eVTOLs and
plans to enter into service in 2026.

($1 = 4.9141 reais)

 (Reporting by Gabriel Araujo; Editing by Steven Grattan)
 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))