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LONDON Hydrogen plane startup ZeroAvia said on Wednesday it had secured $21.4 million in a funding round led by Bill Gates’ Breakthrough Energy Ventures to develop zero-emission commercial aircraft.
Backers for the California-based startup, which has completed 10 test flights with a six-seater propeller plane powered by hydrogen, included Amazon and energy giant Royal Dutch Shell.
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Hydrogen, which produces water when it burns, is seen as a potential alternative for the aviation industry, a major user of fossil fuels. Hydrogen can be made from fossil fuels or from water using electrolysis, although this an expensive process.
ZeroAvia raises more cash for zero-emission hydrogen plane plan
12/16/2020
LONDON, Dec 16 (Reuters) - Hydrogen plane startup ZeroAvia said on Wednesday it had secured $37.7 million in new cash via a funding round led by Bill Gates Breakthrough Energy Ventures and from the British government to support its bid to develop zero-emission aircraft.
Backers for California-based startup, which has completed 10 test flights with a six-seater propeller plane powered by hydrogen, now include Amazon and energy giant Royal Dutch Shell, which both joined the funding round.
Hydrogen, which produces water when it burns, is seen as a potential alternative for the aviation industry, a major user of fossil fuels. Hydrogen can be made from fossil fuels or from water using electrolysis, although this is an expensive process.
Startup has flown 10 hydrogen plane test flights California-based firm raised $34.4 million so far Firm plans to move from propeller planes to jets (Adds new funding from British government)
LONDON, Dec 16 (Reuters) - Hydrogen plane startup ZeroAvia said on Wednesday it had secured $37.7 million in new cash via a funding round led by Bill Gates’ Breakthrough Energy Ventures and from the British government to support its bid to develop zero-emission aircraft.
Backers for California-based startup, which has completed 10 test flights with a six-seater propeller plane powered by hydrogen, now include Amazon and energy giant Royal Dutch Shell, which both joined the funding round.
This Hydrogen-Powered Plane Startup Just Raised $21 Million From Bill Gates, Amazon and More Martin Lerma
Hydrogen-powered planes may be the way of the future if California-based startup ZeroAvia has its way. And with $21.4 million in new funding under its belt, that may just happen sooner than we think.
Its new injection of cash comes courtesy of Bill Gates’ Breakthrough Energy Ventures, which should help it reach its goal of developing commercially viable, zero-emissions aircraft. And the Microsoft founder isn’t the only one vying to support the potentially aviation-shifting venture: Amazon and Shell also count themselves as investors.
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