Eve and Voar Aviation Sign Letter of Intent to Drive Urban Air Mobility
Future Partnership to Revolutionize Urban Air Mobility in Brazil
PARIS, June 20, 2023 – Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW) and Voar Aviation (“Voar”), a general aviation service company, have announced today the signature of a Letter of Intent (LOI) to evaluate the sale and purchase of 70 electric vertical take-off and landing (eVTOL) aircraft to be operated in several locations of Brazil. Under the terms of the agreement, the companies will also study a potential partnership in which Voar will benefit from Eve’s agnostic Urban Air Mobility (UAM) service and operation solutions. This potential eVTOL sale is included in Eve’s current order backlog of up to 2,770 eVTOLs.
"This collaboration represents a significant milestone in our mission to revolutionize urban transportation and shape the future of Urban Air Mobility. By combining our expertise and leveraging Voar's established infrastructure, we aim to accelerate the adoption of eVTOL technology and create a sustainable, integrated and complete ecosystem for urban air travel," said Andre Stein, Co-CEO of Eve. “Our solutions extend beyond the eVTOL itself; we are developing a full portfolio to foster the market’s launch and scalability.”
"This partnership reinforces that Voar is ready to open the doors to future air mobility and contribute the necessary infrastructure to the operation of this new way of transportation," said Alessandra Abrão, CEO of Voar.
Eve is at the forefront of the UAM industry and has consistently demonstrated its commitment to revolutionizing urban air transportation across the globe through a complete suite of solutions. Voar will provide its resources to assist Eve in modeling the UAM market in selected cities and support the seamless integration of eVTOLs into the urban environment by leveraging its extensive aviation infrastructure and knowledge.
Voar Aviation has plans to expand operations in various regions across Brazil. The company aims to operate in the main metropolitan areas and popular tourist destinations, such as Sao Paulo, Belo Horizonte, Brasilia, Goiania, Vitoria, Florianopolis, Camboriu, Fortaleza, Natal, Recife, and Salvador, reinforcing both companies’ commitment to embracing new opportunities and providing innovative, sustainable and accessible transportation solutions for communities throughout Brazil.
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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 Voar Aviation
Voar Aviation, a Brazilian company with over 35 years of experience in the aviation market, connects people by offering unique experiences, safety, and privacy. With 16 hangars in the country's best airports, 4 specialized maintenance centers, and a base in the United States, VOAR has a diverse fleet for executive charters, management services, aircraft maintenance and management, aeromedical transportation, and sales of parts and aircraft. We hold international quality certifications that attest to the best practices and excellence in safety and operational efficiency standards. For more information, please visit the website: www.voar.com.br.
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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 Voar’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 Voar.
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 Voar; (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 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 June 20, 2023