Eve Holding, Inc. Reports Fourth Quarter and FY2023 Results

MELBOURNE, Fla., March 8, 2024 /PRNewswire/ — Eve Holding, Inc. (“Eve”) (NYSE:EVEX) reports its fourth quarter and fiscal year 2023 earnings results.

Year in review

Eve Air Mobility accomplished several milestones on our journey to shape the global Urban Air Mobility (UAM) ecosystem in 2023.  With suppliers of flight-critical components selected for our eVTOL, we defined its final architecture. The DNA of our aircraft remains unchanged with a Lift + Cruise configuration – eight dedicated propellers for vertical take-off and landing, with no change in its position during flight and fixed wings to fly in cruise mode. Our eVTOL also includes a dual electric-motor pusher for horizontal propulsion redundancy with high performance and safety in mind. We believe our design offers numerous advantages such as fewer and simpler parts favoring reduced maintenance and operating costs, optimized structures and systems, and was conceived for efficient thrust and low sound emissions.

With suppliers selected and final configuration defined, we initiated the production of our first full-scale prototype – to be used in our test campaign beginning in the latter part of 2024, when we will also initiate the assembly of up to five additional prototypes for the complete certification campaign.

In mid-2023 we announced our first production facility in Brazil, located in the city of Taubaté – SP, close to Embraer’s engineering and support teams, and in the second semester of last year, we initiated the Joint-Definition Phase (JDP) of our development program. This is a crucial milestone in our eVTOL project timeline. It is during this phase that our technical team engages with their counterparts at our suppliers to perform a comprehensive analysis to ensure all the system interfaces are fully defined and the aircraft components will operate flawlessly with each other. This phase is critical to align and guarantee that the mechanical and software interfaces of the multiple components and subsystems, from different suppliers, will work seamlessly amongst each other and within the specifications of our eVTOL design and performance characteristics.

Our team continues to test our eVTOL design and refine computer models in wind tunnels. The latest tests performed in Switzerland with powered rotors for the first time helping to calibrate the wing and rotors’ interface models, to improve aerodynamics. These improve performance of the cruise and transition phases of the flight.

Eve leverages Embraer’s proven aircraft development practices, testing subsystems separately through various methodologies to validate Proofs of Concept (POCs) and advance towards full-scale prototype of our commercial vehicle for the certification process. Our agile, model-based approach allows us to validate components and airframe features independently in a quick and efficient manner. The goal is to develop safe, reliable, and affordable eVTOL solutions, which we believe will be achieved through our design configuration.

We have initiated the certification process of our eVTOL with Brazil’s aviation authority – National Civil Aviation Agency of Brazil (ANAC), and we expect the validation process for the Type Certification (TC) in Brazil to be followed by the FAA (U.S. Federal Aviation Authority) targeting a dual certification and entry into service in 2026. We are also in discussions with the European Union Aviation Safety Agency (EASA) and other certification authorities. We believe undivided attention from ANAC combined with our expertise in certification and the simple design of our aircraft puts Eve on a clear path to global acceptance.

The result of Eve’s strengths is the largest and most diversified backlog (by number of customers and regions) in the industry today.  In total, we have non-binding LOIs (Letter of Intent) for 2,850 aircraft, from 29 different customers spread over 13 countries and different markets. This, combined with Service & Operations Solutions contracts offers strong long-term revenue visibility and will help Eve to smooth cash-flow …

Full story available on Benzinga.com