ZeroAvia Raises Further $35 Million for Zero-Emission Flight Technology,Taking Total Raised to $115 Million
KEMBLE, England and HOLLISTER, Calif., Dec. 13, 2021 /PRNewswire/ -- As the company moves closer to commercialization of its hydrogen-electric technology, ZeroAvia has secured a new raise of $35 million to help develop its 2-5MW zero-emission powertrain system for regional aviation. As announced today, United Airlines has invested in ZeroAvia through this round, and our agreement with United anticipates an order for 50 ZA2000-RJ engines, with an option for 50 more. United joins an already announced new investor, Alaska Air Group, in this round, alongside existing investors Amazon's Climate Pledge Fund, AP Ventures, Breakthrough Energy Ventures, Horizons Ventures, Summa Equity, and Shell Ventures. This brings the company's total investment to date up to $115 million.
- This brings the company's total investment to date up to $115 million.
- ZeroAvia is on track to achieve commercialization for its hydrogen propulsion technology in 2024.
- Initially, the company is targeting a 500-mile range in a 10-20 seat aircraft used for commercial passenger transport, package delivery, agriculture, and beyond.
- The funding will also allow ZeroAvia to further ramp up presence across its US, UK, and continental Europe locations.