The ongoing research and development by ZeroAvia to produce zero-emission hydrogen-electric powertrains for planned commercial aircraft models has been accelerated by a new round of private equity funding of $24.3 million. The new amount raised brings the company’s total private investment to over $53 million, and the total funding raised since inception to nearly $74 million.
ZeroAvia Secures Funding for Commercial Aircraft Engine Development
Key Takeaways:
- ZeroAvia secured an additional $24.3 million in private equity funding, bringing its total raised to nearly $74 million, with new investors including Horizons Ventures and British Airways.
- This new investment will accelerate the development program for ZeroAvia's hydrogen-electric powertrains for various commercial aircraft models.
- The company targets commercialization for 10-20 seat aircraft by 2024, scaling up to 50-plus-seat regional airliners by 2026, and 100-seat single-aisle models by 2030.
- The funding round highlights growing industry and investor confidence in ZeroAvia's mission to enable zero-emission sustainable aviation.
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