Volar Air Mobility has entered into a strategic partnership with Exim Finance to accelerate the commercialisation of electric aircraft, aiming to advance sustainable aviation on a global scale.
The collaboration formalised through a Memorandum of Understanding (MoU), will focus on developing green financing solutions to support Volar’s RX-series Electric Aircraft, including the RX4E—the world’s first four-seater electric plane expected to receive commercial approval. Under the partnership, Volar and Exim Finance will create financial models that incorporate green financing options and carbon credit offsets, making eco-friendly aircraft more accessible.
The key highlights of the collaboration include developing sustainable financing models for the RX-series Electric Aircraft, introducing carbon credit offsets to promote green aviation, expanding access to electric aircraft in emerging markets and aligning with global decarbonisation targets, including the UAE’s Net Zero by 2050 goals.
Volar Air Mobility is known for its aircraft-agnostic technology platform, designed to integrate a variety of sustainable aircraft. Leading the charge is the RX4E, a fully electric four-seater aircraft, which is set to play a key role in revolutionising air travel by making electric aviation affordable and accessible, particularly in developing regions.
Salah Ibrahim Al Nasser, Chairman of Exim Finance commented, “As a financial institution committed to supporting innovation and environmental responsibility, EXIM Finance recognises 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.”
Henry Hooi, Chairman of Volar Air Mobility Holding Company Limited said, “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.”
Saif Aldarmaki, Founding Partner of Volar Air Mobility Industries stated, “This partnership reflects our shared commitment to revolutionising the green aviation sector. By working with Exim Finance, we are taking a bold step forward in realising the promise of electric aviation and supporting the global transition to sustainable technologies.”
Anwar Hussein, Managing Partner and Co-founder of Volar Air Mobility Industries emphasised the collaboration’s significance and said, “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.”