ZeroAvia completes $150M Series C financing, including investments from Airbus and AA
Summary
Hydrogen-electric plane developer ZeroAvia has completed another successful financing round, led by some of its previous investors and some new ones. In late November, ZeroAvia announced a deal to provide up to 70 zero-emission planes to sustainable startup airline EcoJet, which looks to become the worlds first all-electric airline.This past July, American Airlines committed to a large purchase of zero-emissions engines alongside a fresh investment in the aviation startups technology as part of a Series C fundraising round. UK Infrastructure Bank joined as a cornerstone-level investor, and existing shareholders like Breakthrough Energy Ventures, Horizons Ventures, Ecosystem Integrity Fund, Summa Equity, Alaska Airlines, Amazons Climate Pledge Fund, and AP Ventures also participated.The funding will enable the aviation startup to accelerate its progress toward certifying its first hydrogen-electric plane powertrain for commercial operations. Per ZeroAvia founder and CEO, Val Miftakhov:We have closed an exceptionally strong financing round to help us deliver the clean future of flight for the entirety of aviation. Scotlands ambitious net zero targets, its strategic focus on hydrogen and its strong existing aerospace skills base make it an attractive place for ZeroAvias UK production operations as we scale into a major aerospace manufacturer.In addition to locking in flight certification, ZeroAvia says the $150M in funding will help it begin sales of its in-house aviation technology, including electric motors and fuel cell power generation systems, to other companies.ZeroAvia has already flight-tested a prototype of its first ZA600 engine, implemented aboard a Dornier 228 aircraft at its UK base, and its application for certification with the CAA is already underway.