Eve UAM and Acciona, a global company providing regenerative solutions in decarbonisation, are to jointly accelerate the development of a global and sustainable urban air mobility ecosystem.

"Our agreement with Acciona reinforces Eve's commitment to delivering a sustainable UAM ecosystem, which includes not only our zero-emission eVTOL vehicle but also the green infrastructure that will support this new way of transport," says co-CEO André Stein. Its capability to build these infrastructures, added to its top credentials in sustainability, bring essential skills and expertise to the business that will help us to maintain our distinction in the market."

Under the terms of the partnership, upon the consummation of Eve's business combination with Zanite Acquisition Corp, Acciona will invest $30 million and will join the group of strategic investors that are currently supporting the development of Eve and its business plan. As part of the agreement, Acciona chairman and CEO José Manuel Entrecanales will become one of the seven members of the board of directors after Eve's listing on the New York Stock Exchange (NYSE), which is expected to happen in the second quarter of 2022.

"Whether we like it or not, the world's population is increasingly concentrating in larger cities. Keeping the climate footprint of these urban areas at bay is one of the greatest challenges of the decarbonisation process we are all engaged in," says Entrecanales. "Urban air transport models such as the one proposed by Eve can be very useful when considering different sustainable mobility solutions. Participating in a project as innovative as Eve's will allow us to continue advancing along that path."

The partnership will benefit novel industrial initiatives in the development of a sustainable UAM ecosystem, including vertiports, power purchase agreements, battery charging solutions and handling. In 2021, 93 per cent of the Acciona Group's investments were aligned with the EU's taxonomy for sustainable activities. The company avoided the emission of 13.4 million tonnes of CO2 (+1.5 per cent) during the year, ending that year as the most sustainable electricity company in Spain and the second most sustainable worldwide, according to the Sustainability Yearbook 2022 published by S&P Global.

Upon the closing of the transaction with Eve, Zanite will change its name to Eve Holding and its common stock and warrants are expected to trade on NYSE under the new ticker symbols 'EVEX' and 'EVEXW'. Eve will also become a wholly owned subsidiary of Eve Holding.

To date Eve has attracted a group of complementary strategic investors whose capabilities span the UAM ecosystem. They include fixed wing operators Republic Airways and SkyWest; aircraft lessors Azorra and Falko; finance company Bradesco BBI; technology providers Rolls-Royce and Thales; as well as defence industry company BAE Systems.

The business combination values Eve at an implied $2.4 billion enterprise value, and Embraer will remain a majority stockholder with an approximately 82 per cent equity stake in Eve Holding.