Eve UAM, an Embraer company, and Acciona, a company that provides regenerative solutions for a low-carbon economy, announced this Friday (18) a strategic partnership to accelerate the development of an Urban Air Mobility ecosystem. global and sustainable.
Under the partnership, following the completion of Eve’s business combination with Zanite Acquisition Corp., Acciona will invest $30 million, joining the group of strategic investors currently supporting Eve’s development and business plan.
As part of the deal, José Manual Entrecanales, chairman and CEO of Acciona, will become one of seven members of the Board of Directors following Eve’s listing on the New York Stock Exchange, which is expected to take place in the second quarter of 2022.
“The world’s population is increasing and concentrating in big cities. Keeping the carbon emissions of these urban areas under control is one of the biggest challenges of the decarbonization process in which we are all engaged”, says José Manuel Entrecanales.
Eve co-CEO André Stein adds that the agreement reinforces Eve’s commitment to delivering a Sustainable Urban Air Mobility ecosystem, which includes not only the zero-emission eVTOL (electric vertical take-off and landing vehicle), but also the sustainable infrastructure that will support this new mode of transport.
“Acciona’s ability to build these infrastructures, added to its knowledge in sustainability, add essential skills and competences that will help us maintain our differential in the market”, he says.
The partnership will also benefit new industry initiatives in developing a sustainable UAM ecosystem, including vertiports, power purchase agreements, battery charging and handling solutions.
According to the company, in 2021, 93% of Acciona Group’s investments were in line with the European Union classification for sustainable activities.
The company avoided the emission of 13.4 million tons of CO2 (+1.5%) during the year, ending that year as the most sustainable electricity company in Spain and the second most sustainable in the world, according to Sustainability Yearbook 2022 published by S&P Global.
Listing
The company recalls that it announced in December 2021 its plans to be Eve’s New York listing through a business combination with Zanite Acquisition Corp., an acquisition company focused on the aviation industry.
Upon closing of the transaction with Zanite, Zanite will change its name to Eve Holding, Inc. and Eve’s common shares and options are expected to trade on the NYSE under the new symbols “EVEX” and “EVEXW”, and Eve will become a wholly owned subsidiary of Eve Holding.
To date, Eve has attracted a pool of complementary strategic investors who bring a set of capabilities that span the Urban Air Mobility ecosystem, including fixed-wing operators (Republic Airways and SkyWest), aircraft leasing companies (Azorra and Falko) , financing (Bradesco BBI) and technology providers (Rolls-Royce and Thales), as well as defense sector companies (BAE Systems).
The business combination with Zanite estimates that Eve has an implied business value of $2.4 billion and Embraer will remain a majority shareholder with an approximately 82% equity interest in Eve Holding following the closing of the business combination.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
