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 $24.3 million in new private equity funding, bringing its total to nearly $74 million, to accelerate the development of zero-emission hydrogen-electric powertrains for commercial aircraft.
- The funding round was led by Horizons Ventures and included new investor British Airways, alongside existing investors like Breakthrough Energy Ventures, indicating strong support for sustainable aviation.
- The company plans to commercialize hydrogen-electric powertrains for 10-20 seat aircraft by 2024, with larger 50-plus-seat regional aircraft targeted for 2026 and 100-seat models by 2030.
- ZeroAvia also expanded its senior leadership team with experienced professionals from Air France-KLM, Boeing, and FedEx to support its scaling operations.
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