Eve Holding, formerly known as Zanite Acquisition Corp, has closed its business combination with Eve UAM, a developer of next-generation urban air mobility solutions and a subsidiary of Embraer. Zanite has changed its name to Eve Holding, Inc and its securities were voluntarily delisted from the Nasdaq Capital Market after market close on 9 May, 2022. Its common stock then began trading the following day on the New York Stock Exchange under the symbol EVEX after its management participated in an opening bell ceremony.

“The successful completion of this transaction is an important milestone, providing capital and strategic support for Eve to play a pivotal role in accelerating the global UAM ecosystem. The funding raised through the transaction provides Eve with growth capital and positions Eve well to execute its development plans, aided by our ongoing strategic partnership with Embraer. We intend to further strengthen our position as a leading global UAM player by delivering an effective and sustainable new mode of urban transportation,” says co-CEO Andre Stein.

Of the NYSE launch he adds: “Today, we celebrate a historic milestone in a journey that we began nearly five years ago in EmbraerX, the market accelerator of Embraer, a leader in the global aviation industry. This transaction is a key enabler of our mission to become a leading player in a potential $760 billion UAM addressable market, and we thank the entire team at Eve and Embraer for all of their hard work and our partners at Zanite as well as our other investors for their support.”

“The closing of this transaction sets us on a path to further develop and commercialise our comprehensive UAM solution," adds co-CEO Jerry DeMuro. "I believe that our skilled team, world-class board and extensive strategic global partnerships provide superior positioning for Eve to execute on key development initiatives in the years ahead, in our quest to deliver strong value creation for our stakeholders.

“We believe Eve is uniquely positioned to develop, certify and commercialise our UAM solutions on a global scale. Our pipeline of launch orders for 1,825 vehicles secured via non-binding letters of intent from 19 customers consists of industry leaders who also invested in Eve, including Azorra Aviation, Falko Regional Aircraft, Republic Airways and SkyWest, and provides powerful validation of our business strategy and vision.”

“Eve was the first company to graduate from EmbraerX, and now it is the first to become publicly listed,” says Embraer president and CEO Francisco Gomes Neto. “We believe in the enormous potential of the global UAM market as the transport industry seeks to expand its embrace of zero-emissions alternatives. We believe Eve will be one of the major players in this exciting and essential new market.”

Eve's strategic partnership with Embraer is a key competitive advantage. The partnership includes a royalty-free licence to Embraer's background IP to be used within the UAM market as well as access to thousands of skilled Embraer employees on a flexible, first priority basis and use of Embraer's global infrastructure, pursuant to the terms of certain services agreements between Embraer and Eve. The strategic alignment with Embraer also provides Eve with important cost and execution advantages as it seeks to scale its UAM solution globally.

“The Zanite team is excited to be part of Eve's impressive journey,” says Kenn Ricci, a director of Eve and principal of Directional Aviation Capital, a former member of Zanite's sponsor. “We look forward to our continued partnership with Eve, where we will continue to leverage our extensive experience in the aviation sector to support Eve as it continues to expand its footprint in global eVTOL market.”