Scottish Bank Invests £20m in ZeroAvia for Hydrogen-Electric Aviation Engines
Key Ideas
  • The Scottish National Investment Bank has invested £20m in ZeroAvia to support the development of zero-emission, hydrogen-electric engines for commercial aviation.
  • ZeroAvia's financing will enhance the aerospace supply chain in Scotland and could lead to the establishment of a manufacturing facility in the country.
  • The company is actively working on its ZA600 hydrogen-electric engine for certification, while also developing technologies for a second engine class designed for regional aircraft.
  • ZeroAvia's partnership with Glasgow and Aberdeen airports, along with agreements with ScottishPower, demonstrate its commitment to sustainable aviation and hydrogen technology.
The Scottish National Investment Bank has announced a £20m investment in ZeroAvia, a company specializing in zero-emission engines for commercial aviation. ZeroAvia is at the forefront of developing hydrogen-electric engines for aircraft, with plans to bring this technology to market. The funding from the Bank will support ZeroAvia's production plans, including the development of a manufacturing facility in Scotland. ZeroAvia's ZA600 hydrogen-electric engine is currently undergoing certification processes, while the company is also working on the ZA2000 engine for regional aircraft. Additionally, ZeroAvia is selling component technologies to other electric aviation innovators and is exploring potential sites in Scotland for its operations. ZeroAvia's focus on sustainable aviation has attracted partnerships with Glasgow and Aberdeen airports, as well as collaborations with ScottishPower for low-carbon hydrogen supply. The investment from the Bank marks its first foray into hydrogen-based technology and sustainable aviation, aligning with its mission for a fairer and more sustainable economy. The Bank's decision to invest in ZeroAvia reflects a commitment to decarbonizing aviation and supporting the transition to a net zero economy. With investors like Airbus and Barclays, ZeroAvia is poised for significant growth in its technology, which is expected to benefit the wider supply chain and manufacturing sector. Overall, the investment in ZeroAvia represents a positive step towards cleaner and more sustainable aviation.
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