The company plans to convert the Dash 8 twin-turboprop regional aircraft (above) to hydrogen fuel-cell propulsion, which incorporates a twin-capsule module made with continuous carbon braided preform over a low permeability membrane. Photo Credit: Universal Hydrogen
On April 22 Universal Hydrogen ((Los Angeles, Calif., U.S.) announced its $20.5 million Series A financing round led by 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 Corp. and Future Shape. Founded in 2020 by aviation industry veterans Paul Eremenko, John-Paul Clarke, Jason Chua and Jon Gordon, Universal Hydrogen stitches together the end-to-end hydrogen value chain for aviation, both for hydrogen fuel and hydrogen-powered airplanes.
SPACs: Creating New Opportunities For Both Private And Public Market Investors forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Share
JetBlue s venture capital subsidy, JetBlue Technology Ventures, is investing in a Los Angeles-based startup working on technology to enable hydrogen fuel cell-fuelled aircraft.
The company, Universal Hydrogen, is building a distribution network to store and transport hydrogen fuel for the aviation industry as well as conversion kits that could retrofit existing small regional aircraft to be powered by hydrogen fuel cells. The company said the first commercial flights are planned no later than 2025. We see the near-term decarbonisation of regional aviation as a first step and catalyst, setting the whole industry on a path to meeting Paris Agreement emissions targets, Universal Hydrogen cofounder and CEO Paul Eremenko said in a statement. Hydrogen is today the only viable fuel for getting to true zero emissions in commercial aviation, and our goal is to de-risk the decision for Airbus, Boeing, and [Commercial Aircraft Corp. of China] to make their next new
Regent Raises $20 5 Million for Flying Ferries: Travel Startup Funding This Week skift.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from skift.com Daily Mail and Mail on Sunday newspapers.
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