ZeroAvia Secures $21.4M in Series A and $16.3M in Grant Funding
ZeroAvia, a London, UK- and California-based leader in zero-emission aviation, raised $21.4M in Series A venture capital funding and $16.3M in grant funding.
The $21.4m in Series A round was led by Breakthrough Energy Ventures and Ecosystem Integrity Fund, with follow-on investors Amazon Climate Pledge Fund, Horizons Ventures, Shell Ventures, and Summa Equity participating. In addition, the company established a partnership with British Airways and received approval for new UK government funding through the ATI Programme to deliver an additional $16.3m of non-dilutive funding breakthrough 19-seat hydrogen-electric powered aircraft that is market-ready by 2023. These announcements bring the total funding since inception to $49.7m.
By Dominic Perry2020-12-17T11:10:00+00:00
Hydrogen powertrain developer ZeroAvia has secured an additional $37.7 million in investment – including backing from funds created by Bill Gates and Jeff Bezos, alongside a commitment from the UK government.
As part of its Series A funding round, California-based ZeroAvia has raised $21.4 million, led by Breakthrough Energy Ventures – a company founded by Gates – and Ecosystem Integrity Fund. Additional contributions were made by Amazon Climate Pledge Fund, Horizons Ventures, Shell Ventures, and Summa Equity.
Source: ZeroAvia
First hydrogen fuel cell-powered flight in the UK took place from Cranfield airport in September
Separately, ZeroAvia will receive £12.3 million ($16.3 million) via the UK’s Aerospace Technology Institute as part of programme, called HiFlyer II, to deliver a market-ready – for which read certifiable – hydrogen powertrain to equip a 19-seat passenger aircraft by 2023.
ZeroAvia secures £12.3m UK Government grant to bring 19-seat hydrogen-electric aviation powertrain to market
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Department for Business Energy & Industrial Strategy (BEIS), Aerospace Technology Institute (ATI) and Innovate UK back the further development of ZeroAvia s hydrogen fuel cell powertrain for commercial aviation
through £12.3m grant ($16.3m); with funding matched by project partners
- HyFlyer II will deliver the first
certifiable hydrogen-electric powertrain for aircraft of up to 19-seats, making zero emissions flight a reality for passengers
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World-leading research body European Marine Energy Centre (EMEC) and innovators Aeristech to collaborate with ZeroAvia
LONDON, Dec. 16, 2020 /PRNewswire/ ZeroAvia, the leading innovator in decarbonising commercial aviation, has secured £12.3m ($16.3m) in Government funding through the ATI Programme to deliver a breakthrough 19-seat hydrogen-electric powered aircraft that is market-ready by 2023.
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HOLLISTER, Calif., Dec. 16, 2020 /PRNewswire/
Investments from Amazon Climate Pledge Fund, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, Shell Ventures, and Summa Equity
Approval of additional grant funding of $16.3 million from Department for Business Energy & Industrial Strategy (BEIS), Aerospace Technology Institute (ATI), and Innovate UK
Partnership with British Airways, through Hanger 51 Accelerator to explore how hydrogen-powered aircraft can play a leading role in the future of sustainable flying
ZeroAvia’s mission to transition the world to zero-emission, hydrogen-fueled flight picked up a significant tailwind today as the startup announced $21.4 million in new funding in a Series A round.