The government also provided $16.3m to help ZeroAvia make a 19-seat hydrogen-electric powered plane by 2023
16 December 2020 • 8:11am
A start-up developing the world s first hydrogen fuel cell-powered passenger flight has raised $37.7m (£27.9m) in backing from the Government and a group of investors that includes funds founded by Bill Gates and Jeff Bezos.
ZeroAvia, which is headquartered at Cranfield having relocated from the US last year, said it will use the money to develop technology that could cut carbon emissions from the aviation sector by replacing fossil fuel-burning propulsion with a hydrogen fuel-cell system.
The company raised $21.4m in an investment round led by Ecosystem Integrity Fund and Breakthrough Energy Ventures, a fund backed by Bill Gates. Other investors in the round included Amazon’s Climate Pledge Fund, Horizons Ventures, Shell Ventures and Summa Equity.
ZeroAvia’s hydrogen-powered vision for aviation nets $21.4 million from Amazon, Shell and Bill Gates-backed fund
ZeroAvia, the company that’s on a mission to move the world to zero-emission, hydrogen-fueled flight, has just received some corporate jet fuel in the form of a new $21.4 million cash infusion.
Aviation is a huge contributor to the carbon emissions that cause global warming, and the industry, along with shipping, will be one of the hardest to decarbonize. Electrification technologies have yet to account for ways to propel aircraft or move massive seafaring vessels, and a consensus is emerging among technologists that hydrogen will be the best solution to ensure zero-emissions flight can become a reality.
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Amazon CEO Jeff Bezos established the Amazon Climate Pledge last year to support the development of sustainable technologies so Amazon and other companies can achieve net zero carbon emissions by 2040, 10 years ahead of the Paris climate agreement.
The funding will be used for the ongoing development of the startup’s ZA-600 hydrogen fuel cell powertrain, which converts hydrogen into electricity to power an airplane motor. ZeroAvia said the ZA-600 is capable of flying a 10- to 20-seat aircraft up to 500 miles.
In addition to that, the company secured $16.3 million from the U.K. government for its 19-seat hydrogen-electric powered aircraft that it says will be ready by 2023. ZeroAvia also partnered with British Airways to aid the airline in transitioning its fleet from fossil fuels to hydrogen power.
Una empresa que desarrolla aviones de pasajeros propulsados por hidrógeno recibe 21,4 millones de dólares de fondos de Bill Gates y Amazon rt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rt.com Daily Mail and Mail on Sunday newspapers.