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Eve Holding, Inc. (NYSE: EVEX) is a pioneering company in the Urban Air Mobility (UAM) sector, dedicated to revolutionizing urban transportation through innovative aerospace solutions. Established with a commitment to enhancing urban life, Eve focuses on developing electric vertical take-off and landing vehicles (eVTOLs), comprehensive service and support solutions, and an advanced Urban Air Traffic Management (UATM) system. These innovations aim to enable safe and efficient operation of eVTOLs in densely populated urban airspace alongside conventional aircraft and drones.
Eve operates through three primary segments:
- eVTOL Segment: This includes the design, production, and management of eVTOL aircraft. The segment targets various operators, including fixed-wing and helicopter operators, as well as aircraft lessors.
- Service and Operations Solutions Segment: This segment offers a wide range of maintenance and support services for both its own and third-party eVTOLs, ensuring optimal performance and reliability.
- Urban Air Traffic Management Segment: As a new addition, this segment is focused on developing a sophisticated air traffic management system to facilitate the integration of eVTOLs into urban airspaces.
Backed by Embraer S.A.'s 50-year history of aerospace expertise and listed on the NYSE since May 10, 2022, Eve combines a start-up mindset with robust industry experience. The company aims to lead the $760 billion Urban Air Mobility market, leveraging strong partnerships, strategic investments, and a skilled team of approximately 760 professionals as of Q3 2023.
Recent developments highlight Eve's progress:
- Leadership Appointment: Johann Bordais, previously President and CEO of Embraer Services & Support, was appointed as CEO effective September 1, 2023, bringing extensive experience to accelerate Eve’s growth and operational focus.
- Financial Performance: Despite being in the pre-revenue phase, Eve reported a net loss of $31.2 million in Q3 2023, with substantial investments in R&D and SG&A reflecting the ongoing development of its eVTOL and UAM ecosystem.
- Capital Structure: As of Q3 2023, Eve's total liquidity, including undrawn credit lines, stood at $342.5 million, ensuring sufficient funding for its ambitious development plans.
Looking ahead, Eve is committed to achieving key milestones such as vehicle type certification, market entry, and global operational scaling. The company continues to draw attention with its forward-looking strategies, innovative technology, and dedication to sustainable urban aviation.
United announces a $15 million investment in Eve Air Mobility, coupled with a conditional purchase agreement for 200 electric VTOL aircraft and options for 200 more. The first deliveries are expected as early as 2026. This investment positions United as a leader in urban air mobility, supporting its net zero emissions goal by 2050. United's partnership with Eve, leveraging its relationship with Embraer, aims to enhance air travel efficiency and sustainability. The initiative underscores United's commitment to innovative aviation solutions and the potential growth in the UAM market.
United Airlines has announced a $15 million investment in Eve Air Mobility, coupled with a conditional purchase agreement for up to 400 electric vertical take-off and landing (eVTOL) aircraft. The deal includes an order for 200 aircraft with options for an additional 200, aimed at revolutionizing urban commuting by 2026. This investment reinforces United’s commitment to aviation sustainability, striving for net zero carbon emissions by 2050. United’s collaboration with Eve is expected to enhance urban air mobility, providing a cleaner, quieter transportation alternative in dense urban areas.
Eve Air Mobility (NYSE: EVEX; EVEXW) is set to participate in Deutsche Bank's technology conference in Las Vegas on August 31, 2022. Co-CEO Gerard DeMuro will discuss advancements in urban air mobility (UAM) during a 35-minute panel titled "Making UAM a Reality," scheduled for 4:30 PM PT. The event highlights Eve's commitment to enhancing UAM solutions, coinciding with preparations for their first UAM simulation in Chicago. The panel will also feature Adam Goldstein from Archer Aviation and Sergio Cecutta from SMG Consulting.
Eve Holding (NYSE: EVEX; EVEXW) is set to conduct its first North American Urban Air Mobility (UAM) simulation in Chicago, beginning September 12, 2022. The simulation will utilize helicopters powered by Blade Air Mobility to study operations, ground services, and passenger experiences. Scheduled flights will connect Vertiport Chicago with two local helistops, aiming to provide insights into the infrastructure required for future electric vertical take-off and landing (eVTOL) vehicles in the metropolitan area. The simulation is expected to last three weeks and involve various stakeholders to tackle UAM ecosystem challenges.
Eve Holding (NYSE: EVEX) reported its financial results for the second quarter of 2022, showing a net loss of $11.8 million, up from $2.4 million in Q2 2021. The increase is mainly due to higher R&D and SG&A expenses. Free cash flow consumption rose to $13.2 million in H1 2022 compared to $5.1 million in H1 2021. The company ended Q2 2022 with $330.8 million in liquidity and no debt. Eve is focused on transitioning non-binding orders into firm contracts for its eVTOL aircraft.
Eve Holding, Inc. (NYSE: EVEX; EVEXW) is set to announce its second quarter 2022 earnings on August 4, 2022. The management will host a conference call at 12:00 pm ET to discuss the results. Investors can join the webcast via the company’s website or listen by phone using the provided numbers. A replay will be accessible until August 18, 2022. Eve is focused on advancing the Urban Air Mobility ecosystem, leveraging over 50 years of aerospace expertise from Embraer S.A. More details can be found on their website.
Eve Holding, Inc. (NYSE: EVEX; EVEXW) announced a non-binding Letter of Intent (LOI) at the Farnborough Airshow to explore a potential order of up to 150 electric vertical take-off and landing (eVTOL) vehicles with Embraer and BAE Systems for defense and security applications. A Memorandum of Understanding (MoU) was also signed for a joint venture to develop a defense eVTOL variant utilizing Eve's platform. This collaboration reinforces Eve's role in the advanced air mobility market, adding to a backlog of 1,910 eVTOLs.
Eve Holding, Inc. (NYSE: EVEX; EVEXW) has entered a letter of intent with Halo Aviation Ltd. to develop and launch Eve's Urban Air Traffic Management (UATM) software. This partnership aims to enhance Halo's Urban Air Mobility (UAM) operations, with the UATM solution being the first of its kind for Eve. The collaboration reinforces both companies' commitment to scaling UAM operations safely, with deliveries of Eve's eVTOLs expected to commence in 2026. This agreement follows a previous non-binding commitment from Halo to order up to 200 eVTOLs from Eve.
Eve Holding, Inc. (NYSE: EVEX; EVEXW) showcased its first full-sized eVTOL cabin mock-up at the Farnborough Airshow, emphasizing its human-centered design. Presented at Embraer's exhibition from July 18-22, the mock-up incorporates user feedback and highlights key features like safety, accessibility, and sustainability. The vehicle design now employs a conventional wing and tail configuration. With a commitment to Urban Air Mobility, Eve aims to launch its environmentally friendly eVTOLs by 2026.
Eve Holding hosted its inaugural Urban Air Mobility (UAM) advisory board on June 14-15, 2022, in Lisbon, Portugal. The event gathered over 20 representatives from more than 10 countries, including various stakeholders in UAM, to discuss critical operational and design aspects. Notable participants included companies like Republic Airways and Blade. The board's feedback aims to refine Eve's UAM solutions, including their eVTOL and UATM software. The event also showcased Eve's advanced cabin mock-up, set to appear at the Farnborough International Airshow.
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