Scottish National Investment Bank Backs ZeroAvia in Series C Financing
Key Ideas
  • The Scottish National Investment Bank has contributed £20m to ZeroAvia's Series C funding round, boosting the total value to $150m.
  • ZeroAvia aims to decarbonize aviation using hydrogen-based technology, a sector crucial for the Net Zero transition.
  • Partnerships with entities like ScottishPower show ZeroAvia's commitment to establishing low-carbon hydrogen supply for key airports.
  • The CEO of ZeroAvia sees Scotland as an ideal location for their UK production operations due to the region's focus on hydrogen and aerospace expertise.
The Scottish National Investment Bank has participated in a Series C financing round for ZeroAvia, injecting £20m into the funding and bringing the total value to $150m. This marks the Scottish bank's first investment in hydrogen-based technology and the sustainable aviation sector. The partnership aims to tackle the environmental challenge of decarbonizing aviation, considered vital for the Net Zero transition. ZeroAvia, known for its hydrogen-powered flights, received support from various entities like Airbus, Barclays Sustainable Impact Capital, and existing shareholders. The CEO of ZeroAvia sees the funding as essential for advancing the future of flight and expanding into a major aerospace manufacturer. Additionally, collaborations with ScottishPower highlight ZeroAvia's commitment to establishing low-carbon hydrogen supply chains for key airports. The CEO views Scotland as an attractive location for their UK production operations, leveraging the region's focus on hydrogen and existing aerospace skills base. Overall, the sentiment in the article is positive, emphasizing the significance of investments and partnerships in driving sustainable aviation and fostering hydrogen-based technology.
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