ZeroAvia Secures $150 Million Investment for Hydrogen Aircraft Project with Airbus Backing
Key Ideas
- ZeroAvia secures $150 million in financing led by Airbus to advance their hydrogen-powered aircraft project.
- Investors include notable companies like American Airlines, IAG, Japan’s Itochu, as well as financial institutions and investment funds.
- The company has conducted successful flight and ground tests for their ZA600 and ZA2000 systems, aiming for a cleaner future of aviation.
- ZeroAvia is planning to set up a manufacturing facility in the UK with support from Bank of Scotland.
ZeroAvia, a US company, has raised $150 million in a financing round led by Airbus to progress its hydrogen-powered aircraft project. The round attracted a diverse group of investors, such as American Airlines, IAG, Japan’s Itochu, Scottish National Bank, Barclays, Bill Gates’ Breakthrough Ventures, Amazon, among others. This investment boost will help ZeroAvia deliver a cleaner future of flight for the entire aviation industry. The company has already completed extensive flight tests on its ZA600 engine prototype aboard a Dornier 228 aircraft in the UK and is in the process of certification with the CAA. Ground tests for key technologies of the ZA2000 system have also been conducted in the US and UK. ZeroAvia is now looking to establish a manufacturing facility in the UK, supported by the Bank of Scotland. The company's progress signifies a significant step towards sustainable aviation and a transition to hydrogen as a clean energy source in the industry.