The zero-emissions solution proposed and under development by startup company ZeroAvia has attracted the attention of a cadre of interesting players that have now signed on to deliver a substantial round of funding to the program. New investment from the Amazon Climate Pledge Fund, Breakthrough Energy Ventures (established by Bill Gates in 2015), Ecosystem Integrity Fund, Horizons Ventures, Shell Ventures, and Summa Equity totals $21.4 million in a Series A round, as announced by ZeroAvia on December 16. In addition, ZeroAvia has secured grant funding from the Department for Business Energy & Industrial Strategy (BEIS), Aerospace Technology Institute (ATI), and Innovate UK totaling $16.3 million. Total funding raised by the company since inception is $49.7 million.
ZeroAvia Secures Nearly $38 Million in Funding For Its Hydrogen Powerplant Development
Key Takeaways:
- ZeroAvia secured $21.4 million in Series A funding from major investors like Amazon and Breakthrough Energy Ventures, plus $16.3 million in grant funding, totaling $49.7 million since inception.
- The company is developing commercially viable hydrogen-powered aircraft, having completed initial test flights and planning to scale up its technology to a 19-seat aircraft platform.
- ZeroAvia partnered with British Airways to explore the role of hydrogen-powered aircraft in sustainable commercial aviation through BA's Hangar 51 accelerator program.
- The long-term vision includes developing aircraft with capacities ranging from 10-20 seats in three years, 50-80 seats shortly after, and 100+ seats by 2030.
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