Eve Urban Air Mobility and Zanite Acquisition Corp. are on track to fulfill the business combination agreement made in December 2021 and form a new company, Eve Holding. (Photo courtesy of Eve UAM)
Embraer’s Eve Urban Air Mobility entered into an agreement with Zanite Acquisition Corp. in December 2021. This agreement includes a planned business combination in which Eve will become Zanite’s wholly-owned subsidiary. The resulting company will be known as Eve Holding, Inc. and will list on the New York Stock Exchange under “EVEX” and EVEXW.”
Zanite has now filed the definitive proxy statement on Form DEFM14A, an essential step in the process of making Eve a publicly-traded company. On May 6, Zanite’s stockholders will meet virtually to approve the business combination with Eve. If other customary closing conditions are satisfied, the merger is expected to close on May 9.
Following the successful closure of the business combination agreement, the new Eve Holding will receive a $30 million investment from Acciona—a developer of renewable energy solutions and infrastructure. Acciona’s CEO, José Manuel Entrecanales, is also expected to join the Board of Directors as part of the deal with Eve.
About a month ago, Eve shared two other big announcements. Global Crossing Airlines Group signed a Letter of Intent to form a partnership with Eve in research and development of a UAM (urban air mobility) ecosystem that includes infrastructure for electric vertical take-off and landing (eVTOL) aircraft. GlobalX also intends to order up to 200 of Eve’s eVTOL aircraft that will likely be delivered in 2026.
Also in March, Eve made another effort to support UAM in forming a consortium with Skyports, L3Harris, and the Community Air Mobility Initiative (CAMI). The consortium’s objective is to produce a concept of operations for UAM services connecting Miami International Airport (MIA) and the Miami Beach Convention Center.
Eve’s eVTOL aircraft was selected for use by Nautilus Aviation, an Australian luxury helicopter operator that offers scenic tourist flights. As part of the agreement, finalized in December, Eve will deliver 10 of its eVTOL aircraft to the company in Queensland, Australia.
The air mobility business incubator division of Norwegian airline Widerøe, called Widerøe Zero, also demonstrated its interest in Eve’s eVTOL concept last year. A November announcement shared that both companies are partnering to develop a concept of operations for eVTOL aircraft in Scandinavia.