International Business: Support for ZeroAvia s hydrogen plane plan gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
Zero-carbon aviation startup ZeroAvia has raised $37.7 million from a host of backers including Bill Gates’ Breakthrough Energy Ventures, Amazon Climate Pledge Fund and Shell Ventures.
Series A funding was led by Breakthrough Energy Ventures and Ecosystem Integrity Fund, with Amazon, Shell, Summa Equity and Horizons Ventures following on.
The funds will be used for the ongoing development of its ZA-600 hydrogen fuel cell powertrain, which converts hydrogen into electricity to power a motor to spin a propeller. The firm said the ZA-600 is capable of powering a 10- to 20-passenger plane for a flight of 575 miles.
The tally announced Wednesday also includes a $16.3 million grant from the U.K. government for the Hyflyer II project, which will see ZeroAvia build a commercial 19-seater hydrogen plane by 2023. ZeroAvia is targeting a range of 500 miles for 20-seaters by 2023 and the same distance for 100-seater aircraft by 2027.
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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.