Hydrogen-powered aviation company ZeroAvia secures support from major groups

📆 18.09.2023 19:13:00
📰 MiningWeeklyAUS

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Zero emission aviation company ZeroAvia announced on Monday that its latest funding round has been led by major international groups, namely Europe-based global aerospace group Airbus, UK-based multinational banking group Barclays (specifically, Barclays Sustainable Impact Capital), and Saudi Arabian green city development company NEOM. Other groups which participated in the financing round were (in alphabetical order) Alaska Airlines, Amazon Climate Pledge Fund, AP Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, and Summa Equity. “Anybody following the development of hydrogen aviation – and its potential to transform the industry – will see this investment as a positive step,” affirmed ZeroAvia founder and CEO Val Miftakhov.

Zero emission aviation company ZeroAvia announced on Monday that its latest funding round has been led by major international groups, namely Europe-based global aerospace group Airbus, UK-based multinational banking group Barclays , and Saudi Arabian green city development company NEOM. Other groups which participated in the financing round were Alaska Airlines, Amazon Climate Pledge Fund, AP Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, and Summa Equity.

ZeroAvia’s aircraft power systems, or powertrains , comprise hydrogen fuel cell stacks generating electricity which powers electric motors, which turn the aircraft’s propellors.

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