Latest news with #FINEP
West Australian
2 days ago
- Business
- West Australian
Viridis gets huge Brazilian finance nod for strategic minerals play
Viridis Mining and Minerals and its JV entity will ink a coveted joint support plan with two of Brazil's leading development agencies, opening the door to significant funding assistance from the Brazilian government. The Brazilian National Bank for Economic and Social Development (BNDES) and the Federal Agency for Studies and Projects (FINEP) confirmed the company and its joint venture entity Viridion, are eligible to progress a joint support plan under the government's strategic minerals initiative. The plan will provide the company with potentially transformative non-dilutive grants, debt financing and possible equity participation to develop its Colossus rare earths project in the Brazilian state of Minas Gerais. At the same time, Viridis announced it has signed a binding memorandum of understanding with two leading Brazilian asset management firms, clearing another pathway for staged payments of up to US$30 million (A$46 million) in private share placement funding. The funding is expected to provide much-needed support, as Viridis looks to rapidly develop Colossus towards a final investment decision and starts executing the highly anticipated project. Under the BNDES/FINEP initiative, Brazil plans to inject a whopping BRL$5 billion (US$903 million) into the country's most noteworthy strategic mineral projects to strengthen its local supply chains. Viridis received an initial nod to progress to this next phase of the initiative in June. Being tapped to participate in the program could play a major role in fast-tracking Viridis' expanding Colossus rare earths project towards production and boosting its Viridion JV recycling and downstream refining business. Providing certain requirements are met, Viridis-Viridion could gain access to financial options, including BNDES funding programs, credit lines and equity investment, as well as to FINEP's non-reimbursable resources. Viridis plans to immediately negotiate a tailored funding package to supercharge Colossus' development and refining operations. Management says the company was selected largely due to the strong economics revealed in its preliminary feasibility study for Colossus, as well as its access to ASX-listed Ionic Rare Earths' patented and proven new-age refining and recycling technology. Viridion is a joint venture between Viridis and Ionic. The joint agency initiative was recently bolstered by a second round of funding, which put a further BRL$3 billion (US$542 million) on the table to help companies advanced in the strategic minerals refining process to develop innovation hubs and technology. The Viridion joint venture encompasses Ionic's patented solvent extraction technology developed at its Belfast plant in Ireland. The partners recently secured land in Minas Gerais' capital Poços de Caldas to build a centre for rare earths innovation, technology and recycling. The rare earth recycling facility will focus on recovering magnets from end-of-life equipment, such as wind turbines, electric motors and MRI machines. It will also process mixed rare earth carbonates from Colossus' demonstration plant. With its recycling and processing arms, Viridion could be an ideal candidate to source more funding from Brazil's second round funding. Viridion recently delivered high-purity magnet rare earths neodymium, praseodymium, dysprosium and terbium to Brazil's only magnet manufacturer CIT SENAI ITR. The new recycling facility will produce four magnet rare earth oxides at better than or equal to 99.5 per cent purity. In a further head-turning reveal, Viridis announced it has signed a binding memorandum of understanding with two leading Brazilian asset management firms, ORE Investments Ltda and Régia Capital Ltda, of up to US$30 million (A$46 million) in private share placement funding. Private equity group ORE Investments only invests in the mining sector, where it has deep experience in the technical, operational and financial sectors. Asset manager Régia Capital provides sustainable investments strongly aligned with environmental, social and governance criteria. The funding support for Colossus signifies a major vote of confidence in the growing project from renowned industry players, which may lead to improved access to project financing, permitting and support from potential key local stakeholders. Equity finance could provide flexible financing options for Viridis at important stages of its project development. The investment framework enables staged equity funding, designed to be delivered across four tranches over a maximum 36 months to support the company through key project milestones. Viridis will receive an initial US$5 million when it executes definitive agreements, priced at 91 cents per share. Follow-on tranche payments of US$5 million, US$10 million and a final US$10 million are scheduled at 12-month intervals to provide predictable funding support in line with Viridis' expected project development timelines. Viridis retains the right to pursue other financing opportunities, including under the joint BNDES and FINEP initiative, offering the company maximum flexibility. Viridis continues to work on environmental permitting and says advancing the regulatory framework is a priority. It completed an environment impact assessment report in January and a preliminary licence is expected to be approved shortly. Management says it has received strong interest in recent financing discussions with multiple government institutions, export credit agencies and development banks in several nations. The company is also pursuing strategic offtake talks, boosted by the recent strong pre-feasibility study economics. It is planning to run a metallurgical test program to enhance its recovery levels, and will feed this data into an upcoming definitive feasibility study. Viridis, with its massive Colossus project and magnet recycling joint venture with Ionic, seems to have caught the attention of the right players willing and able to support mining. That can only be a positive thing for this aspiring rare earths producer. Is your ASX-listed company doing something interesting? Contact:
Yahoo
17-06-2025
- Business
- Yahoo
South Star Battery Metals Announces Selection by BNDES and FINEP for Strategic Minerals Funding Program, Maiden Shipment of Flake Graphite from the Santa Cruz Mine and Operational Update
Highlights: South Star's flagship graphite mine Santa Cruz was selected by Brazilian National Development Bank ('BNDES') and Brazil's Innovation Agency ('FINEP') as part of the Transformation of Strategic Minerals initiative. The BNDES and FINEP partnership aims to promote investments to increase production, research and development as well as innovation in the processing of strategic minerals, such as graphite. The first shipment of natural flake graphite concentrates from the Santa Cruz Graphite Mine in Bahia, Brazil was shipped on June 5, 2025 to a North American client. The next orders are being prepared. Santa Cruz Phase 1 Operational Update. VANCOUVER, British Columbia, June 16, 2025 (GLOBE NEWSWIRE) -- South Star Battery Metals Corp. ('South Star' or the 'Company') (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it was selected by the R$5B (US$895M) Transformation of Strategic Minerals initiative sponsored by the BNDES and FINEP. The initiative targets increased production and transformation of minerals crucial for energy transition and decarbonization, focusing on developing supply chains for graphite, lithium, rare earth elements, and other strategic minerals in Brazil. The initiative is designed to accelerate the production and transformation of critical minerals essential for the global energy transition and decarbonization, with a strategic focus on building supply chains for priority resources. South Star presented a work program and conceptual business plan for Santa Cruz Phase 2 and 3 expansions as well as the downstream transformation of graphite in Brazil for industrial and energy transition sectors. The Company will now submit a comprehensive business plan detailing market analysis, management, milestones, budgets, marketing strategy, operations plan, partnerships and socio-environmental impacts for increasing production with a phased, modular approach. South Star will work in partnership with BNDES and FINEP to assess the most appropriate potential financial structures for future funding, which could include credit facilities, equity participation, and grants to invest in productive capacity, research, development, and innovation ('RD&I'). In addition, the Company is pleased to announce that the maiden shipment of graphite concentrates from Santa Cruz left the mine on June 5th, 2025 and is enroute to North America. This significant milestone marks the transition of South Star into commercial production and underscores its commitment to establishing a reliable, scalable global supply chain with integrated graphite production in the Americas. Santa Cruz Phase 1 is the first new graphite production in the Americas since 1996 and is fully licensed and permitted through Phases 2 and 3, enabling total production capacity of up to 50,000 tonnes per year ('tpy') of high-quality Brazilian graphite concentrates. The next orders are being produced and are planned to ship shortly. Richard Pearce, CEO of South Star, commented, "We are honored to be selected for this landmark strategic minerals initiative in Brazil. We are also proud of delivering the first new graphite production in the Americas since 1996 at a time when global supply chains have few options and political tensions are increasing. As a leading global producer of critical minerals, Brazil plays a pivotal role in supplying the metals essential for defense, industrial, energy transition, and stationary storage applications. Among Western jurisdictions, Brazil holds the greatest potential to rapidly scale production and drive innovation across the entire value chain—from raw materials to advanced manufacturing—supported by a skilled workforce, robust industrial base, clean energy and excellent infrastructure. Our selection is a strong endorsement of graphite's growing strategic importance, as well as of our long-term vision and commitment to supporting Brazil, our local communities, and our global clients. This support could be transformational for the expansion of our Santa Cruz operations and a key step toward unlocking long-term value for all stakeholders.' Operational Update As of the end of May 2025, South Star has achieved 916 days and 404,777 man-hours without a lost-time incident, which covers the entire construction, commissioning, and ramp-up phases of the Santa Cruz operation. The mine is performing well, and average grade and strip ratios are reconciling closely with the mine plan. There are approximately 35,000 tonnes of ore stockpiled on the run of mine ore ('ROM') pad. The ramp-up process is ongoing and focused on achieving the following performance goals: Complete construction and commissioning - (Achieved) Plant mechanical availability of 92% - (Achieved) Concentrates grade of 93-96 % graphitic carbon, ('Cg') - (Achieved) Recoveries of approximately 82-84% - (On-going) Constant Throughput of 30 tph of ore - (On-going) Cost reductions initiatives - (On-going) Santa Cruz has experienced several operational challenges during ramp-up: Extreme rainfall and high winds in April and May (2.5x normal average), which significantly impacted production. 3 Pieces of major equipment are performing below the design performance specification for 450/500 tpm of production High frequency screen Entrance to rod mill Tailings filter press The performance bottlenecks are being reviewed by the South Star team and the equipment manufacturers. Active steps are being taken to resolve the issues quickly. In addition, the team is working through a thorough evaluation of the metallurgical mass and water balance and working to achieve a steady-state throughput to improve recoveries. All relevant factors including pulp densities, reagents dosing, ball size, mill RPMs and residence times are being optimized to improve recoveries and grade while maintaining the flake size. The Company is working diligently to resolve bottlenecks, evaluate new suppliers and equipment manufacturers to ensure qualified suppliers that can provide robust alternatives for maintenance and wear parts. The team is working to improve the preventative maintenance plans and minimum inventories to ensure efficient operations. In addition, the Company is pleased to announce that Mr. Rogerio Barcellos Leite has been appointed as the Santa Cruz Director of Operations. A chemical engineer with a broad industrial and mining background, Mr. Barcellos Leite will lead process optimization, data-driven performance improvements, and the development of systems that drive operational clarity and culture. Richard Pearce, CEO of South Star, commented, "We are pleased to welcome Rogerio to the team and look forward to working closely with him to clear bottlenecks and scale operations quickly at Santa Cruz. He has over 20 years of experience in mining and industry, with a proven track record of delivering operational excellence, a culture of continuous improvement, safety leadership, and sustainable growth across a range of commodities. As we stabilize and scale production at Santa Cruz to advance the strategic initiatives, Rogerio's expertise in operational strategy, workforce development, and continuous improvement will be instrumental in driving performance.' ABOUT SOUTH STAR BATTERY METALS CORP. South Star is a Canadian battery-metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial- and battery-metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (> 30 tonnes) has been completed. The results of the testing show that approximately 65% of graphite concentrate is +80 mesh with good recoveries and 95%-99% graphitic carbon (Cg). With excellent infrastructure and logistics, South Star Phase 1 is ramping up commercial production with first sales expected to be delivered in October 2024. Santa Cruz Phase 1 commercial production has a nameplate capacity of 12,000 tpy and is the first new graphite production in the Americas since 1996. Phase 2 production (25,000 tpy) is partially funded and planned for 2026, while Phase 3 (50,000 tpy) is scheduled for 2028. South Star's second project in the development pipeline is strategically located in Alabama, U.S.A. in the center of a developing electric-vehicle, aerospace, and defense hub in the southeastern United States. The BamaStar Project includes a historic mine active during the First and Second World Wars. A NI 43-101 Preliminary Economic Assessment will be filed on SEDAR+. Trenching, Phase 1 drilling, sampling, analysis, and preliminary metallurgical testing have been completed. The testing included a traditional crush/grind/flotation concentration circuit that achieved grades of approximately 94-99% Cg with approximately 90% recoveries. The vertically integrated production facilities include a mine and industrial concentrator in Coosa County, AL and a downstream value-add plant in Mobile, AL, which will be upgrading natural flake graphite concentrates from both Santa Cruz and BamaStar mines. South Star is executing on its plan to create a multi-asset, diversified battery-metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF. South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles, based on transparency, stakeholder engagement, ongoing education, and stewardship. To learn more, please visit the Company website at This news release has been reviewed and approved for South Star by Richard Pearce, P.E., a 'Qualified Person' under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp. On behalf of the South Star Board of Directors, MR. RICHARD L. PEARCE,President & Chief Executive Officer For additional information, please contact: South Star Investor RelationsEmail: invest@ +1 (604) 706-0212Website: Twitter: South Star Battery Metals – YouTube CAUTIONARY STATEMENT Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. FORWARD-LOOKING INFORMATION This press release contains 'forward-looking statements' within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements'. Forward-looking statements in this press release include, but are not limited to statements regarding the Private Placement, including the closing date, the use of proceeds and potential acceleration of Warrants and Finder's Warrants, production at Santa Cruz, and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
Yahoo
17-06-2025
- Business
- Yahoo
South Star Battery Metals Announces Selection by BNDES and FINEP for Strategic Minerals Funding Program, Maiden Shipment of Flake Graphite from the Santa Cruz Mine and Operational Update
Highlights: South Star's flagship graphite mine Santa Cruz was selected by Brazilian National Development Bank ('BNDES') and Brazil's Innovation Agency ('FINEP') as part of the Transformation of Strategic Minerals initiative. The BNDES and FINEP partnership aims to promote investments to increase production, research and development as well as innovation in the processing of strategic minerals, such as graphite. The first shipment of natural flake graphite concentrates from the Santa Cruz Graphite Mine in Bahia, Brazil was shipped on June 5, 2025 to a North American client. The next orders are being prepared. Santa Cruz Phase 1 Operational Update. VANCOUVER, British Columbia, June 16, 2025 (GLOBE NEWSWIRE) -- South Star Battery Metals Corp. ('South Star' or the 'Company') (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it was selected by the R$5B (US$895M) Transformation of Strategic Minerals initiative sponsored by the BNDES and FINEP. The initiative targets increased production and transformation of minerals crucial for energy transition and decarbonization, focusing on developing supply chains for graphite, lithium, rare earth elements, and other strategic minerals in Brazil. The initiative is designed to accelerate the production and transformation of critical minerals essential for the global energy transition and decarbonization, with a strategic focus on building supply chains for priority resources. South Star presented a work program and conceptual business plan for Santa Cruz Phase 2 and 3 expansions as well as the downstream transformation of graphite in Brazil for industrial and energy transition sectors. The Company will now submit a comprehensive business plan detailing market analysis, management, milestones, budgets, marketing strategy, operations plan, partnerships and socio-environmental impacts for increasing production with a phased, modular approach. South Star will work in partnership with BNDES and FINEP to assess the most appropriate potential financial structures for future funding, which could include credit facilities, equity participation, and grants to invest in productive capacity, research, development, and innovation ('RD&I'). In addition, the Company is pleased to announce that the maiden shipment of graphite concentrates from Santa Cruz left the mine on June 5th, 2025 and is enroute to North America. This significant milestone marks the transition of South Star into commercial production and underscores its commitment to establishing a reliable, scalable global supply chain with integrated graphite production in the Americas. Santa Cruz Phase 1 is the first new graphite production in the Americas since 1996 and is fully licensed and permitted through Phases 2 and 3, enabling total production capacity of up to 50,000 tonnes per year ('tpy') of high-quality Brazilian graphite concentrates. The next orders are being produced and are planned to ship shortly. Richard Pearce, CEO of South Star, commented, "We are honored to be selected for this landmark strategic minerals initiative in Brazil. We are also proud of delivering the first new graphite production in the Americas since 1996 at a time when global supply chains have few options and political tensions are increasing. As a leading global producer of critical minerals, Brazil plays a pivotal role in supplying the metals essential for defense, industrial, energy transition, and stationary storage applications. Among Western jurisdictions, Brazil holds the greatest potential to rapidly scale production and drive innovation across the entire value chain—from raw materials to advanced manufacturing—supported by a skilled workforce, robust industrial base, clean energy and excellent infrastructure. Our selection is a strong endorsement of graphite's growing strategic importance, as well as of our long-term vision and commitment to supporting Brazil, our local communities, and our global clients. This support could be transformational for the expansion of our Santa Cruz operations and a key step toward unlocking long-term value for all stakeholders.' Operational Update As of the end of May 2025, South Star has achieved 916 days and 404,777 man-hours without a lost-time incident, which covers the entire construction, commissioning, and ramp-up phases of the Santa Cruz operation. The mine is performing well, and average grade and strip ratios are reconciling closely with the mine plan. There are approximately 35,000 tonnes of ore stockpiled on the run of mine ore ('ROM') pad. The ramp-up process is ongoing and focused on achieving the following performance goals: Complete construction and commissioning - (Achieved) Plant mechanical availability of 92% - (Achieved) Concentrates grade of 93-96 % graphitic carbon, ('Cg') - (Achieved) Recoveries of approximately 82-84% - (On-going) Constant Throughput of 30 tph of ore - (On-going) Cost reductions initiatives - (On-going) Santa Cruz has experienced several operational challenges during ramp-up: Extreme rainfall and high winds in April and May (2.5x normal average), which significantly impacted production. 3 Pieces of major equipment are performing below the design performance specification for 450/500 tpm of production High frequency screen Entrance to rod mill Tailings filter press The performance bottlenecks are being reviewed by the South Star team and the equipment manufacturers. Active steps are being taken to resolve the issues quickly. In addition, the team is working through a thorough evaluation of the metallurgical mass and water balance and working to achieve a steady-state throughput to improve recoveries. All relevant factors including pulp densities, reagents dosing, ball size, mill RPMs and residence times are being optimized to improve recoveries and grade while maintaining the flake size. The Company is working diligently to resolve bottlenecks, evaluate new suppliers and equipment manufacturers to ensure qualified suppliers that can provide robust alternatives for maintenance and wear parts. The team is working to improve the preventative maintenance plans and minimum inventories to ensure efficient operations. In addition, the Company is pleased to announce that Mr. Rogerio Barcellos Leite has been appointed as the Santa Cruz Director of Operations. A chemical engineer with a broad industrial and mining background, Mr. Barcellos Leite will lead process optimization, data-driven performance improvements, and the development of systems that drive operational clarity and culture. Richard Pearce, CEO of South Star, commented, "We are pleased to welcome Rogerio to the team and look forward to working closely with him to clear bottlenecks and scale operations quickly at Santa Cruz. He has over 20 years of experience in mining and industry, with a proven track record of delivering operational excellence, a culture of continuous improvement, safety leadership, and sustainable growth across a range of commodities. As we stabilize and scale production at Santa Cruz to advance the strategic initiatives, Rogerio's expertise in operational strategy, workforce development, and continuous improvement will be instrumental in driving performance.' ABOUT SOUTH STAR BATTERY METALS CORP. South Star is a Canadian battery-metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial- and battery-metals projects that will be put into production. Brazil is the second-largest graphite-producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (> 30 tonnes) has been completed. The results of the testing show that approximately 65% of graphite concentrate is +80 mesh with good recoveries and 95%-99% graphitic carbon (Cg). With excellent infrastructure and logistics, South Star Phase 1 is ramping up commercial production with first sales expected to be delivered in October 2024. Santa Cruz Phase 1 commercial production has a nameplate capacity of 12,000 tpy and is the first new graphite production in the Americas since 1996. Phase 2 production (25,000 tpy) is partially funded and planned for 2026, while Phase 3 (50,000 tpy) is scheduled for 2028. South Star's second project in the development pipeline is strategically located in Alabama, U.S.A. in the center of a developing electric-vehicle, aerospace, and defense hub in the southeastern United States. The BamaStar Project includes a historic mine active during the First and Second World Wars. A NI 43-101 Preliminary Economic Assessment will be filed on SEDAR+. Trenching, Phase 1 drilling, sampling, analysis, and preliminary metallurgical testing have been completed. The testing included a traditional crush/grind/flotation concentration circuit that achieved grades of approximately 94-99% Cg with approximately 90% recoveries. The vertically integrated production facilities include a mine and industrial concentrator in Coosa County, AL and a downstream value-add plant in Mobile, AL, which will be upgrading natural flake graphite concentrates from both Santa Cruz and BamaStar mines. South Star is executing on its plan to create a multi-asset, diversified battery-metals company with near-term operations in strategic jurisdictions. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF. South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles, based on transparency, stakeholder engagement, ongoing education, and stewardship. To learn more, please visit the Company website at This news release has been reviewed and approved for South Star by Richard Pearce, P.E., a 'Qualified Person' under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp. On behalf of the South Star Board of Directors, MR. RICHARD L. PEARCE,President & Chief Executive Officer For additional information, please contact: South Star Investor RelationsEmail: invest@ +1 (604) 706-0212Website: Twitter: South Star Battery Metals – YouTube CAUTIONARY STATEMENT Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. FORWARD-LOOKING INFORMATION This press release contains 'forward-looking statements' within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be 'forward-looking statements'. Forward-looking statements in this press release include, but are not limited to statements regarding the Private Placement, including the closing date, the use of proceeds and potential acceleration of Warrants and Finder's Warrants, production at Santa Cruz, and scaling operations as well as advancing the Alabama project; and the Company's plans and expectations. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Travel Daily News
04-06-2025
- Business
- Travel Daily News
Eve Air Mobility announces up to $15.8m. FINEP grant
Eve Air Mobility secures $15.8m. grant from FINEP to advance sustainable urban air mobility technologies and eVTOL operational infrastructure in Brazil. SAO PAULO, BRAZIL – Eve Air Mobility announced that it has been selected in a public call by FINEP, Brazil's Funding Authority for Studies and Projects, to receive a grant of up to $15.8 million1. The total project investment amount is up to $33.8 million2, combining the FINEP grant with Eve's required company contribution. This is the first grant (non-repayable funding) awarded to Eve, reinforcing the company's leadership in developing innovative solutions for sustainable urban air mobility. The grant, awarded under FINEP's public selection for 'Technologies for More Sustainable Aviation', is aligned with the strategic focus areas defined by the call, such as autonomous flight systems, advanced energy storage, hybrid-electric and hydrogen propulsion, sustainable aviation fuel (SAF) testing, noise reduction, efficient aircraft configurations, new materials, and advanced air traffic management systems for advanced air mobility (AAM). Eve's project will prioritize the areas most relevant to its innovation roadmap. 'This partnership with FINEP marks a pivotal milestone for Eve and the broader Brazilian aerospace ecosystem', said Johann Bordais, CEO of Eve Air Mobility. 'Our mission is to reimagine people's relationship with time, space, and the city by creating safe, sustainable, and efficient air mobility experiences. Leveraging from Embraer's 55-year legacy and our innovative mindset, this grant will enable us to accelerate the development of advanced digital solutions and technologies that will shape the future of urban air mobility in Brazil and beyond'. Luiz Mauad, Vice President of Customer Services at Eve, added: 'Supporting the future operation of eVTOLs requires a robust digital backbone — this is the foundation for scalable AAM operations. By developing our digital platforms and service solutions in parallel with our aircraft, we empower our customers with an integrated, one-stop-shop experience that ensures operational efficiency, safety, and high availability from day one'. Elias Ramos de Souza, President of FINEP, stated that: 'This project represents our belief that eVTOLs are a future disruptive trend in the UAM scenario. We are very glad to partner with Eve in this endeavor, in a funding that enhances our position of more than BRL 1 billion in support to Embraer and its investees.' A central pillar of this project is the advancement of Eve's digital ecosystem, including the continued development of Eve TechCare – its fully integrated aftermarket services platform. Eve TechCare is a pioneer all-in-one suite of solutions designed to streamline eVTOL operations by providing the industry's most comprehensive services, expert customer support, and cutting-edge operational solutions. The aftermarket portfolio consists of technical support and solutions, MRO services, parts and battery solutions, as well as training services and flight operations solutions. Eve TechCare's service and support solutions will cover all the operational aspects necessary to ensure the daily eVTOL operation. The company is advancing the current stage of the eVTOL development, which involves a series of comprehensive tests with the prototype to evaluate every aspect of the aircraft's operation and performance, from flight capabilities to safety features. 1 Equivalent amount in US dollars; BRL 90 million in local currency (Brazilian real – BRL). 2 Equivalent amount in US dollars; BRL 191 million in local currency (Brazilian real – BRL).
