{"id":87419,"date":"2024-10-17T00:00:00","date_gmt":"2024-10-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/10\/17\/eve-air-mobility-nabs-usd-88-mn-in-funding-for-evtol-factory\/"},"modified":"2024-10-17T00:00:00","modified_gmt":"2024-10-17T00:00:00","slug":"eve-air-mobility-nabs-usd-88-mn-in-funding-for-evtol-factory","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/10\/17\/eve-air-mobility-nabs-usd-88-mn-in-funding-for-evtol-factory\/","title":{"rendered":"Eve Air Mobility nabs USD 88 mn in funding for eVTOL factory"},"content":{"rendered":"

EVTOL company <\/strong>Eve<\/strong> Air Mobility has secured a USD 88 mn loan from Brazil's state <\/strong>development bank BNDES to fund its first production facility in the country<\/strong>, according to a press release<\/a>. The Taubate-based facility will eventually produce up to 480 aircraft annually, with Eve aiming to start production of its prototype battery-powered eVTOL aircraft by 2026. With nearly 3k potential orders, Eve estimates future revenue at USD 14.5 bn. The latest funding builds on a previous USD 92.5 mn credit line from BNDES back in 2022.<\/p>\n

Eve is active in the region:<\/strong> The company \u2014 a subsidiary of Brazilian aerospace company Embraer \u2014 <\/span>signed an MoU<\/a> in December with Saudi Arabia's air carrier and the leading low-cost airline Flynas to explore operating eVTOLs in the kingdom as early as 2026in Riyadh and Jeddah. The company also <\/span>signed an MoU<\/a> with Saudi aviation services provider <\/span>Saudia<\/a>Technic<\/a> to explore the potential demand for Maintenance, Repair, and Overhaul (MRO) activities for eVTOLs in the kingdom back in May.<\/span><\/p>\n

\n

US-based supermaterial applications startup <\/strong>Lyten<\/a><\/strong> plans to build the world\u2019s first <\/strong>lithium-sulfur battery gigafactory<\/strong> near Reno, Nevada, with more than USD 1 bn investment, according to a press release<\/a>. The facility will have a production capacity of up to 10 GWh annually at full scale and is set to begin phase one operations by 2027. Lyten aims to meet demand from \"hundreds of potential customers\" in sectors like micromobility, aerospace, defense, and drones using \u201clocally sourced materials and fully US-based manufacturing.\u201d<\/p>\n

Lithium-sulfur vs traditional batteries: <\/strong>Lyten\u2019s lithium-sulfur technology offers a lightweight, high-energy-density alternative to traditional batteries, the company said. This eliminates the need for critical minerals like nickel, cobalt, manganese, and graphite. The company\u2019s batteries are also 40% lighter than lithium-ion and 60% lighter than lithium iron phosphate (LFP) batteries, claims the company.<\/p>\n","protected":false},"excerpt":{"rendered":"

Eve plans to start production by 2026.<\/p>\n","protected":false},"author":1,"featured_media":87420,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,11,64,63,164,210],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-enterpriseclimate","tag-evs","tag-evtol","tag-green-finance","tag-usa","wpautop","entry"],"acf":{"mongo_id":"15cebd8f-4599-495b-b3e1-ef495ba6971d","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1433.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Eve Air Mobility nabs USD 88 mn in funding for eVTOL factory","related_issue":[87405],"teaser":"Eve plans to start production by 2026.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.4d6b20f6-c15f-4f54-8d42-25a7b4d8d925.mp3"},"yoast_head":"\nEve Air Mobility nabs USD 88 mn in funding for eVTOL factory - 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