Page 21 - அமெரிக்கன் எக்ஸ்பிரஸ் உலகளாவிய வணிக பயணம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Corporate Travel Leader Deem Hires Travel Industry Veteran Shannon Garcia
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Emirates Wants to Shake Up Ticket Sales Through Closer Ties to Travel Agencies
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Hertz Selects Centerbridge to Lead Its Reorganization From Bankruptcy
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ZeroAvia secures additional $24.3M to launch development of 2MW hydrogen-electric powertrain for regional aircraft
ZeroAvia is launching the development program for a 2MW hydrogen-electric powertrain for full-size regional aircraft. The program kick-off is supported by a new raise of $24.3 million, led by Horizons Ventures, joined by a new investor: British Airways.
Existing investors Breakthrough Energy Ventures, Ecosystem Integrity Fund, Summa Equity, Shell Ventures, and SYSTEMIQ also participated in the financing. This new round accelerates the larger hydrogen-electric engine development for the 50+ seat aircraft and supports additional commercial airlines initiatives to adopt hydrogen in aviation.
The latest funding brings the company’s total private investment to more than $53 million and the total funding raised since inception to nearly $74 million.
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Certares, the private equity firm and travel industry powerhouse with controlling interests in American Express Global Business Travel and Travel Leaders Group, was poised to co-lead Hertz’s reorganization and bankruptcy exit, but that prospect is getting messier with the emergence of a competing bid.
Hertz, which is still on pace to exit Chapter 11 bankruptcy in June, announced earlier this week that Centerbridge Partners, Warburg Pincus, and Dundon Capital Partners offered an alternative plan to the Certrares-Knighthead Capital Management reorganization plan filed March 1.