Hydrogen plane startup ZeroAvia raises $21.4 million in funding round led by Breakthrough Energy Ventures and others – Business News , Firstpost

The announcement brings the overall new funding to $37.7 million and the overall funding since inception to $49.7 million.

Hydrogen plane startup ZeroAvia introduced on 16 December that it has secured $21.4 million in a funding round led by Bill Gates’ Breakthrough Energy Ventures to develop zero-emission industrial plane. The Series A funding round additionally noticed participation from Ecosystem Integrity Fund, with comply with-on traders Amazon Climate Pledge Fund, Horizons Ventures, Shell Ventures (power large Royal Dutch Shell), and Summa Equity.

In addition, the corporate established a partnership with British Airways and obtained approval for brand new UK authorities funding by way of the ATI Programme to ship a further $16.3 million of non-dilutive funding. The announcement brings the overall new funding to $37.7 million and the overall funding since inception to $49.7 million.

The funding comes on the heels of the corporate finishing the UK’s first-ever industrial-scale battery-electrical flight in June 2020 and the primary flight of the most important hydrogen gas cell plane in September 2020 as a part of the modern HyFlyer I challenge. ZeroAvia expects an extended-distance flight of 250 miles in the following three months.

Val Miftakhov, founder and CEO of ZeroAvia, stated, “Our most recent milestone achievements are closing the gap for the airline industry to begin its transition away from fossil fuels. In fact, over ten forward-looking airlines are now gearing up to implement our powertrains when they are ready in 2023. Both aviation and the financial markets are waking up to the idea that hydrogen is the only meaningful path towards large-scale, zero-emission commercial flight. Powering a 100-seat plane on hydrogen is not out of the question. We feel deeply grateful to our top-tier investors for joining us in the next phase of our exciting journey; to bring in a new golden age of aviation.”

ZeroAvia, which has been conducting check flights in Britain, goals for industrial flights of as much as 500 miles utilizing 10- to 20-seat plane by 2023 and industrial jets in a position to haul as much as 200 passengers 3,000 miles by 2030.

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