Eve Completes Development of its Urban Air Traffic Management Prototype
Melbourne, Fla., May 26, 2023 – Eve Air Mobility ("Eve") (NYSE: EVEX; EVEXW) announced today the completion of its Urban Air Traffic Management (Urban ATM) prototype. The prototype focuses on concepts and services essential to supporting the introduction and scalability of Urban Air Mobility (UAM) operations. Eve is now initiating the commercial product development of Urban ATM solutions to ensure UAM's airspace integration is successful.
The Urban ATM prototype was initially tested during Eve's Chicago Simulation Experience last fall to support the validation of foundational Urban ATM concepts and the integration of UAM into the ecosystem. The simulation, which used helicopters as a substitute for eVTOLs, performed tests of Urban ATM technology in combination with simulating ground services, infrastructure and equipment requirements, and vehicle and passenger journeys. The simulation provided essential feedback for Eve to advance the development of its commercial Urban ATM solutions through which customers will be able to enjoy tailored traffic management services that meet their needs and achieve efficient operations and resource optimizations.
“Advanced Air Mobility have the potential to unlock significant new transportation options and economic opportunities for society. Eve recognizes that these developments need to be reviewed for safety and unification with the current airspace ecosystem to avoid potential logistical challenges,” said Andre Stein, co-CEO of Eve. “By offering comprehensive solutions, our Urban ATM technology will provide critical traffic management services which will be essential to address these concerns. Eve's Urban ATM will play a key role in enabling the global UAM market to scale and has a customer-centric design to address future operations' pain points.”
Eve is engaging with Atech, Embraer's Air Traffic Control technology and system integrator company, to support the development of the Urban ATM software solution. Eve will leverage Atech's experience in developing aviation-grade products from the ATM systems in Brazil. To enable product adoption, Eve is leveraging partnerships with key organizations to share knowledge and multiple strengths that will empower stakeholders. The partnerships established thus far include Halo Aviation, BLADE India, Skyway, Bluenest, Volatus and Ferrovial. Eve has been conducting advisory groups with these partners to ensure that its software development aligns with their needs and will maximize the potential value of Urban ATM to their operations.
The company is also continuing to collaborate with regulators, air navigation service providers, fleet operators, vertiport developers, airports and other UAM ecosystems stakeholders across the Americas, Europe and Asia Pacific to advance concepts and begin developing technology to support the initial operation and scaling of UAM operations from an ATM perspective.
Follow Eve on Twitter, Instagram, Facebook, LinkedIn and YouTube: @EveAirMobility.
Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.’s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, a comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve has been listed on the New York Stock Exchange, where its shares of common stock and public warrants trade under the tickers “EVEX” and “EVEXW”. For more information, please visit www.eveairmobility.com.
Forward-Looking Statements Disclosure
Certain statements in this press release include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may,” “intend,” “predict,” “should,” “would,” “predict,” “potential,” “seem,” “future,” “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Eve’s expectations with respect to its Urban Air Traffic Management software solutions and future performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Eve.
These forward-looking statements are subject to a number of risks and uncertainties, including, among others: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) risks relating to the uncertainty of the projected financial information with respect to Eve; (iii) the outcome of any legal proceedings that may be instituted against Eve; (iv) future global, regional or local economic and market conditions, including the growth and development of the urban air mobility market; (v) the development, effects and enforcement of laws and regulations; (vi) Eve’s ability to grow and manage future growth, maintain relationships with customers and suppliers and retain its key employees; (vii) Eve’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; (viii) Eve’s ability to successfully develop, obtain certification for and commercialise its eVTOL; (ix) the effects of competition on Eve’s future business; (x) the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; (xi) the impact of the global COVID-19 pandemic and (xii) those factors discussed in Eve’s Registration Statement on Form 10-K/A filed on May 4th, 2023 under the heading “Risk Factors,” and other documents of Eve filed, or to be filed, with the Securities and Exchange Commission (SEC).
If any of these risks materialise or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Eve does not presently know or that Eve currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Eve’s expectations, plans or forecasts of future events and views as of the date of this press release. Eve anticipates that subsequent events and developments will cause Eve’s assessments to change. However, while Eve may elect to update these forward-looking statements at some point in the future, Eve specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Eve’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Released May 26, 2023