ZeroAvia Raises Additional $35 Mn for Hydrogen-Powered Flight Technology

As the company moves closer to commercialization of its hydrogen-electric technology, ZeroAvia has secured a new raise of $35 million to help develop its 2-5MW zero-emission powertrain system for regional aviation.

December 14, 2021. By News Bureau

As the company moves closer to commercialization of its hydrogen-electric technology, ZeroAvia has secured a new raise of $35 million to help develop its 2-5MW zero-emission powertrain system for regional aviation.

As announced, United Airlines has invested in ZeroAvia through this round, and our agreement with United anticipates an order for 50 ZA2000-RJ engines, with an option for 50 more.

United joins an already announced new investor, Alaska Air Group, in this round, alongside existing investors Amazon's Climate Pledge Fund, AP Ventures, Breakthrough Energy Ventures, Horizons Ventures, Summa Equity, and Shell Ventures. This brings the company's total investment to date up to $115 million.

ZeroAvia is on track to achieve commercialization for its hydrogen propulsion technology in  2024. Initially, the company is targeting a 500-mile range in a 10-20 seat aircraft used for commercial passenger transport, package delivery, agriculture, and beyond.

This funding round targets the next segment of 40-80 seat aircraft, targeting turboprops by 2026 and regional jets by 2028. The funding will also allow ZeroAvia to further ramp up presence across its US, UK, and continental Europe locations. 

"We are very excited to welcome our new investors, including one of the world's largest airlines in United, into the ZeroAvia family," said ZeroAvia CEO Val Miftakhov. "As we prepare for ground and flight testing of our first commercial intent product in the coming weeks, this backing by our investors will enable us to accelerate delivery of our engine for larger aircraft."

"Hydrogen-electric engines are one of the most promising paths to zero-emission air travel for smaller aircraft, and this investment will keep United out in front on this important emerging technology," said Scott Kirby, CEO of United. 

''Aviation remains crucial to efficient global travel and trade. The resulting carbon emissions are however significant. ZeroAvia offers a credible and compelling pathway to zero-emission aviation, enabling the long-term future of the industry," said Kevin Eggers of AP Ventures. ''ZeroAvia is pioneering practical clean aviation solutions in a meaningfully short time frame."

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