Funding Taking Flight

ZeroAvia, raised a $37.7M Series A, backed by some big investors, including Breakthrough Energy Ventures, Amazon Climate Pledge Fund, Shell Ventures, and Ecosystem Integrity Fund. ZeroAvia is building a hydrogen-powered, zero-emission powertrain for commercial air travel.

Why does this matter?

What’s next?

  • Val Miftakhov, the CEO of ZeroAvia, says that ZeroAvia has letters of intent from about 15 airlines. The company’s technology is projected to be commercially available in 2023.
  • Governments are also playing in the game, pushing for decarbonization, specifically in Nordic countries.
  • ZeroAvia is using their funds for the ongoing development of its ZA-600 hydrogen fuel cell powertrain, which can power a 10- to 20-passenger plane for a flight of 575 miles.
  • Aircraft programs usually take at least five or six years to develop once the technology is proven, meaning that the entire ecosystem will need to transition (hydrogen producers, manufacturers, and airports).

Thoughts
Electrification of aviation will gradually gain market share, primarily in the form of hybrids. As this shift occurs, other pieces of the ecosystem will play a big part — from power density of batteries to hydrogen production and infrastructure. For long term success, collaboration is needed, especially between innovators, airports, and utilities.

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