Embraer along with Brazil’s ministry of science and technology and innovation (MCTI) and the Financiadora de Estudos e Projetos (Finep) - which promotes Brazil's economic and social development through public funding for science, technology and innovation – have signed an agreement for R$126.7 million ($23 million) investment in sustainable aircraft technologies research.
Finep will use resources from non-reimbursable funding originating from the national development, scientific and technological funding (FNDCT) to support 50% of this research agreement, with Embraer supporting the other half of the investment.
“The technological innovations generated by this project will pave the way for the Brazilian aerospace industry to have a greater global role. With the accumulation of achievements in research and development, we are prepared to accelerate the future of sustainable aviation.”, said Francisco Gomes Neto, president and CEO of Embraer.
The partnership between Embraer and Finep began in 2006 and involved support for several direct projects or through affiliates - such as Visiona - for the development of a small Earth observation satellite.
Luciana Santos, Brazilian minister of science, technology and innovation commented: “Embraer is a company that invests in innovation to transform knowledge into high value-added industrial activity.
She continued: “It is also an example of the importance of the Brazilian Government in stimulating innovation and the development of the country. Here we have the result of what we can do when we combine Brazilian intelligence with public investment. And that is what we are celebrating,” said Minister Luciana Santos.
The objective is to promote a significant increase in innovation activities and increase the competitiveness of companies and the country's economy.