Volar Air Mobility and Exim Finance Partner to Pioneer Green Financing Solutions for Sustainable Aviation

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Sep 20, 2024, 11:44 ET

MONTREAL, Sept. 20, 2024 /PRNewswire/ -- Volar Air Mobility has formed a strategic partnership with Exim Finance to accelerate the commercialization of electric aircraft. This collaboration, formalized by a Memorandum of Understanding (MoU), focuses on developing innovative green financing solutions to support sustainable aviation globally.

Logo of Exim Finance

The partnership centers around Volar's RX-series Electric Aircraft, including the RX4E, the world's first four-seater electric plane expected to receive commercial approval. Together, Volar and Exim Finance will create financial models that include green financing options and carbon credit offsets, making eco-friendly aircraft more accessible.

Key highlights of the collaboration include:

Development of sustainable financing models for RX-series Electric Aircraft.
Introduction of carbon credit offsets to promote green aviation.
Broadening access to electric aircraft in emerging markets.
Aligning with global decarbonization goals like the UAE's Net Zero by 2050.

Revolutionizing Air Mobility, Driving Innovation and Sustainability

Volar Air Mobility sets itself apart with an aircraft-agnostic technology platform, allowing it to integrate a variety of sustainable aircraft. The RX4E, a fully electric four-seater, is leading the charge toward a greener aviation future. Volar's focus is on making electric air travel affordable and accessible in developing regions, supporting environmental goals while boosting local economies. By collaborating with Volar, Exim Finance is breaking new ground in green aviation. Exim Finance offers a range of financial services across Asia, Africa, Europe, and North America.

Industry Leaders Comment on the Partnership

Mr. Salah Ibrahim Al Nasser, Chairman of Exim Finance, commented: "We are honored to be part of this significant initiative aimed at transforming the future of aviation through sustainable practices. As a financial institution committed to supporting innovation and environmental responsibility, EXIM Finance recognizes the critical importance of green aviation in reducing the industry's carbon footprint. By partnering with key stakeholders, this Memorandum of Understanding represents a major step forward in creating a more sustainable aviation ecosystem."

Mr. Henry Hooi, Chairman of Volar Air Mobility Holding Company Limited, added: "Volar Air Mobility is honored to be working with EXIM Finance on a pioneering initiative to develop a series of green financing solutions to enable green aviation. The opportunity is to co-develop pioneering solutions in UAE to enable broader adoption of green aviation globally, thus contributing meaningful environmental impacts and fulfilling the aspirations of many, including those outlined in the UAE Net Zero by 2050."

Mr. Saif Aldarmaki, Founding Partner of Volar Air Mobility Industries, stated: "This partnership reflects our shared commitment to revolutionizing the green aviation sector. By working with Exim Finance, we are taking a bold step forward in realizing the promise of electric aviation and supporting the global transition to sustainable technologies."

Mr. Anwar Hussein, Managing Partner and Co-founder of Volar Air Mobility Industries, emphasized the collaboration's significance, stating: "With this MoU, we are laying the groundwork for the future of green aviation financing. Our combined expertise will allow us to create financing structures that support early adopters of electric aircraft and help expand the global market for eco-friendly aviation solutions."

About Volar Air Mobility

Volar Air Mobility is a green air mobility technology company focused on the commercialization of electric aircraft worldwide. The company holds exclusive commercialization rights for the RX-series Electric Aircraft, developed by the Liaoning General Aviation Academy (LGAA), and is dedicated to fostering sustainable aviation technologies that contribute to a greener future.

About Exim Finance

Exim Finance provides investment, corporate, and commercial banking solutions across several continents, helping drive growth through innovative financial solutions. With a strong global presence, Exim Finance leverages a diverse team whose extensive connections with Export Banks and Credit Insurance providers enable them to deliver tailored financial solutions that empower clients' success.

For more information, visit www.volarairmobility.com and www.eximfinance.ae.

Media Contact:
Miss Wyam Amiri
Inovartic Investment
Abu Dhabi, UAE
Email: [email protected]
Phone: +971561090758

SOURCE Volar Air Mobility