Eve and Widerøe Zero Extend Partnership, Aiming to Launch eVTOL Operations in Scandinavia with Up to 50 Aircraft
LOI Aims to Drive the Future of Sustainable Air Travel in the Region
PARIS, June 20, 2023 – Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW) today announced the extension of its partnership with Widerøe Zero, an innovative initiative by Widerøe focused on sustainable aviation with the mission to revolutionize the industry and create a greener future for air travel. The partnership, solidified through a Letter of Intent (LOI), marks a significant step forward in both companies’ commitment to addressing the environmental impact of aviation and ushering in a new era of sustainable air travel. The agreement involves up to 50 eVTOLs, a service and operation solutions package, as well as the implementation of Eve’s Urban Air Traffic Management (Urban ATM) software solution.
“This new partnership builds upon a previous MoU (Memorandum of Understanding) signed between Eve and Widerøe Zero in 2021 at the UN Climate Conference (COP26), which aimed to develop eVTOL operations in Scandinavia,” said Andre Stein, Co-CEO of Eve. “This additional LOI reinforces our commitment to introducing sustainable, safe and affordable urban air travel to the region. Together, we will drive this transformation and pave the way for a more accessible transportation ecosystem for Scandinavian communities."
”We are looking forward to an even closer collaboration with Eve in the years to come. From designing optimal customer journeys in our Mobility Labs to defining the future Concept of Operation, and in 2027 to put the first Eve vehicles into revenue service,” said Andreas Aks, CEO at Widerøe Zero AS.
Eve will provide comprehensive services to meet Widerøe Zero's needs and specifications. These include eVTOL maintenance, repair and overhaul (MRO), component repair management, spare parts management programs, battery lifecycle management, and data integration solutions, alongside operations solutions, such as training services, consultancy services, and on-site support for fleet Entry Into Service (EIS).
Additionally, the LOI involves implementing Eve’s Urban ATM software to optimize the efficiency of Widerøe Zero’s UAM flight operations by integrating its eVTOLs with other airspace users in low-level airspace, ensuring optimized performance and safety. Eve's Urban ATM solution offers tailored solutions, including integration with vertiport automation systems, vertiport resource availability management, flight planning and coordination services, and more.
Another key highlight of the extended partnership is the collaboration on the Air Mobility Labs project across Norway. The project will drive the development of future air mobility concepts tailored to regional needs, allowing for a deep understanding of the prospective customer journey and new air mobility solutions. Together, Eve and Widerøe Zero will spearhead the transformation of air travel by embracing sustainable practices and innovative technologies. The companies will also collaborate on developing potential solutions to address icing conditions in eVTOL operations. Widerøe's extensive experience operating in Norway, where icing conditions are prevalent, will provide valuable insights and expertise.
Eve's eVTOLs will connect people residing in sparsely populated regions with challenging geography. The eVTOL operations in Norway will enhance regional connectivity and contribute to reducing carbon emissions, aligning with Widerøe Zero's commitment to environmental sustainability. Widerøe Zero's vision of all domestic short-haul flights being electric complements Norway's goal of achieving carbon-neutral aviation by 2040. By joining forces with Eve, Widerøe Zero will have access to cutting-edge electric vertical take-off and landing (eVTOL) technology, enabling them to accelerate their ambitious goal of electrifying a substantial portion of their fleet by 2030.
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About Eve
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.
About Widerøe Zero
Widerøe Zero is an air mobility incubator with an aim to introduce zero-emission air services before 2030. Owned by Widerøe AS and headquartered in Norway, it tackles all the regulatory, commercial, and financing challenges involved in purchasing and operating zero-emissions aircraft. Its work is immediately necessary for Norway, where the geography welcomes short-haul flights already possible with existing zero-emissions technology. Other countries throughout Europe and beyond will benefit increasingly from Widerøe Zero's knowledge as the range of commercial options afforded by an entirely new class of aircraft becomes clear. Follow us on Twitter: @flywideroe.
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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 and Widerøe Zero’s expectations with respect to the announced agreement 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 and Widerøe Zero.
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) failure to realise the anticipated benefits of the announced agreement between Eve and Widerøe Zero; (iii) risks relating to the uncertainty of the projected financial information with respect to Eve; (iv) the outcome of any legal proceedings that may be instituted against Eve; (v) future global, regional or local economic and market conditions, including the growth and development of the urban air mobility market; (vi) the development, effects and enforcement of laws and regulations; (vii) Eve’s ability to grow and manage future growth, maintain relationships with customers and suppliers and retain its key employees; (viii) Eve’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; (ix) Eve’s ability to successfully develop, obtain certification for and commercialise its eVTOL; (x) the effects of competition on Eve’s future business; (xi) the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; (xii) the impact of the global COVID-19 pandemic and (xiii) 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 materialize 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 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 June 20, 2023