Hydrogen-aircraft aircraft developer ZeroAvia has been able to secure $21.4 million funding from several
major investors that include Shell and Amazon. ZeroAvia has hosted several rounds of funding from the
investors and the total investments are around $75 million. They plan to use this funding for production
and development of hydrogen-powered aircraft. Investors like Amazon Climate Pledge Fund, Horizons
Ventures, Shell Ventures and Summa Equity. The startup has announced several ways in which they are
going to make use of these funds. In the next few years, ZeroAvia is planning to deliver the world's first
hydrogen electric engine for aircraft by the year of 2024.
In the last few weeks, it has come up between ZeroAvia and British Airways. ZeroAvia has received a
huge boost due to this major collaboration. ZeroAvia has started to explore the development of zero
emission aircraft for use in the airline's fleet. They have also got the approval of $16.3 million of U.K.
government funding with Aerospace Technology Institute. This additional funding to ZeroAvia has taken
the overall funds to more than $50 million.
Val Miftakhov, founder and CEO of ZeroAvia has said that "Both aviation and the financial markets are
waking up to the idea that hydrogen is the only meaningful path towards large-scale, zero-emission
commercial flight,". He has also added that "Powering a 100-seat plane on hydrogen is not out of the
question. We feel deeply grateful to our top-tier investors for joining us in the next phase of our exciting
journey; in a new golden age of aviation".
ZeroAvia’s 19-seat R&D is the most popular and capable project that has come up in recent times.
ZeroAvia developers are planning to release the final project by the year of 2024.