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 investors including the Amazon Climate Pledge Fund and Breakthrough Energy Ventures, along with $16.3 million in grant funding, to advance its zero-emissions hydrogen-electric aircraft technology.
- The company has successfully demonstrated hydrogen-powered flights and is progressing to develop a 600kW powerplant for a 19-seat aircraft, with a 250-mile cross-country flight planned for the near future.
- ZeroAvia has partnered with British Airways to explore the integration of hydrogen-powered aircraft into commercial aviation, aligning with a long-term goal to deploy 10-20 seat aircraft in three years, and 100+ seat aircraft by 2030.
Key takeaways sponsored by Aviator Pro | Start Your Training ->
See a mistake? Contact us.
