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Acciona Plans To Invest $30M In Eve

Author: Akanksha Bakshi | March 18, 2022 08:43am

Eve UAM, LLC, an Embraer SA (NYSE:ERJ) company, has established a strategic partnership with Acciona to accelerate the development of a global and sustainable Urban Air Mobility ecosystem.
Acciona is a provider of regenerative solutions for a decarbonized economy.
Related: EVTOL Company Eve Gets Spin Out From Embraer, SPAC Deal: What Investors Should Know
As per the partnership terms, upon completion of Eve's business combination with Zanite Acquisition Corp (NASDAQ:ZNTE), Acciona will invest $30 million and join the group of strategic investors supporting the development of Eve and its business plan.
José Manuel Entrecanales, Acciona's Chairman and CEO, will become a member of the Board after Eve's listing on NYSE.
Price Action: ERJ shares closed higher by 3.74% at $11.65 on Thursday.

Posted In: ERJ ZNTE