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Universal Hydrogen, a startup developing hardware to power airplans with hydrogen, has raised $20.5M in a Series A funding, the company said earlier this week. The company said the funding was led by Playground Global, and also included Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlu
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Universal Hydrogen, a Los Angeles, CA-based carbon-free flight company, raised $20.5M in Series A financing.
The round was led by Playground Global, with participation from Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape.
The company intends to use the funds to accelerate the development of its hydrogen logistics network and regional aircraft conversion kits, and bolsters its commercial activities.
Founded in 2020 by aviation industry veterans Paul Eremenko, John-Paul Clarke, Jason Chua, and Jon Gordon, Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen
Universal Hydrogen announces $20.5M in Series A funding to build and test full-scale hardware for hydrogen commercial aircraft
Universal Hydrogenannounced $20.5-million Series A financing round led by prominent Silicon Valley venture fund, Playground Global, with the investor syndicate comprising Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape.
Founded in 2020 by aviation industry veterans Paul Eremenko, John-Paul Clarke, Jason Chua, and Jon Gordon, Universal Hydrogen is stitching together the end-to-end hydrogen value chain for aviation, both for hydrogen fuel and hydrogen-powered airplanes.
The financing allows Universal Hydrogen to accelerate the development of its hydrogen logistics network and regional aircraft conversion kits, and bolsters the company’s burgeoning commercial activities.
Universal Hydrogen raises $20 5M Series A to help launch hydrogen aviation – TechCrunch techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.
Forrest departs on international hunt for green energy asset
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Fortescue Metals Group chairman Andrew Forrest has left Australia to continue his international hunt for green energy assets.
It is unclear how long Dr Forrest will be on the road or what countries he will visit.
Andrew Forrest has resumed his international hunt for renewable energy assets.
Trevor Collens
Fortescue declined to answer questions about his latest trip aimed at securing green energy assets for wholly owned subsidiary Fortescue Future Industries, including on the size of the travelling party.
Sources close to Dr Forrest ruled out a visit to China despite Fortescue issuing a statement on Wednesday in support of the Boao Forum for Asia on the island of Hainan.