A zero-emission aeroplane start-up has secured 拢17.6 million funding from investors including British Airways.听
ZeroAvia, already backed by UK government, has now generated听拢38m听private funding听鈥� and 拢53.7m in total听鈥�听to听develop hydrogen-powered engines for aircraft.听
The round听was听led by Horizons Ventures, with participation from Breakthrough Energy Ventures, Ecosystem Integrity Fund, Shell Ventures, Summa Equity and SYSTEMIQ, with BA听joining听as a new investor.听
Based in听Cranfield, Bedfordshire, and California,听听ZeroAvia听has already secured experimental certificates for its two prototype aircraft from the CAA and FAA听and听claims to be听on track for commercial operations in 2024.听听
The company鈥檚 expanding UK operations are supported by grants from UK鈥檚 Aerospace Technology Institute and Innovate UK, and听ZeroAvia听is part of the UK Government鈥檚 Jet Zero Council.听
It is听initially targeting听a听500–mile range in 10-20 seat aircraft used for commercial passenger transport, cargo听and听agriculture.听
The new funding will allow it to launch the development program for a 2MW hydrogen-electric powertrain for full-size regional aircraft,听accelerating听the larger hydrogen-electric engine development for听50+–seat aircraft.听
“This new funding, in conjunction with our other recent milestones, will significantly accelerate our path to zero-emission solutions for larger regional aircraft at a commercial scale,” said Val听Miftakhov, CEO and founder of听ZeroAvia.听听
“With many airlines lining up and ready to make the shift to zero-emissions, we expect to see wide-scale adoption of this technology. We are extremely grateful for our investors who are helping to speed up our progress and ultimately the aviation industry’s adoption of zero-emission flight.”听听
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Sean Doyle, British Airways CEO, added:听“Innovative zero-emissions technology is advancing fast, and we support the development of hydrogen as an alternative fuel source because we believe it has the potential to enable us to reach true zero emissions on short-haul routes by 2050.听听
“There is a huge amount of energy and excitement building around the possibilities of a zero-emissions future for aviation, and while there is no single solution to this challenge, we acknowledge the need for urgent action to tackle the impact flying currently has on our planet and are making progress on our journey to net zero.”听
Patrick Poon, from Horizons Ventures,听said:听“Flying on jet fuel comes with an environmental听cost, and听finding an alternative for the aviation industry is vital.听听
鈥�We believe听ZeroAvia听offers a real and practical solution for the aviation market to move towards cleaner options.”听听听
As the company continues to scale its global operations,听ZeroAvia听also brings three new members to the senior team.听听