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FINEP, Brazil's federal public company for financing science, technology and innovation, signed a direct Economic Grant Agreement (non-repayable economic subsidy) with Eve Brazil on 2025-05-14, committing up to BRL 90 million toward a project framed as transforming Brazil's "sustainable and accessible air mobility ecosystem" with eVTOL technology. Unlike a loan, this is a grant (subvenção econômica) — no repayment obligation, only a matching in-kind/cash contribution requirement (BRL 100.76m minimum) from Eve Brazil itself. Release is tranched, subject to FINEP's Executive Board and budgetary/financial availability, and any unused portion after the 36-month window is automatically cancelled. FINEP can terminate early under conditions specified in the agreement (not detailed in the public filing). This is the earliest-dated of a recurring pattern of Brazilian state financial support to Eve's eVTOL programme — later, larger tranches came via BNDES loan (Dec 2025) and BNDESPAR equity (Aug 2025). Severity is kept low (1), consistent with other single-tranche Brazilian development-bank/ agency support actions already in the register, since this is routine project-stage innovation financing to one company rather than a market-shaping subsidy programme.
development-bank debt or equity) into Eve's eVTOL programme — establishes FINEP alongside BNDES/BNDESPAR as a third channel of Brazilian state support for the aircraft's development.
Eve Brazil's drawdown pace and any extension requests could be tracked as a signal of programme execution risk.
early were not disclosed in the public SEC filing.
grant (common in FINEP subvenção econômica awards) — not stated in available sources.