ZeroAvia Secures Additional $24.3 Million to Kick Off Large Engine Development for 50+ Seat Zero-Emission Aircraft
"This new funding, in conjunction with our other recent milestones, will significantly accelerate our path to zero-emission solutions for larger regional aircraft at a commercial scale," said Val Miftakhov, CEO and founder of ZeroAvia. "With many airlines lining up and ready to make the shift to zero-emissions, we expect to see wide-scale adoption of this technology. We are extremely grateful for our investors who are helping to speed up our progress and ultimately the aviation industry's adoption of zero-emission flight."
ZeroAvia Expands its Hydrogen-Electric Aviation Program to 19-Seat Aircraft and Raises Additional $13 Million in Funding for Large Engine Development
ZeroAvia has also secured an additional $13 million for its 50+ seat engine development program from AP Ventures, a significant investor in breakthrough technologies across the hydrogen value chain, Alumni Ventures Group, SGH Capital, Agartha Fund LP, and existing investors Amazon's Climate Pledge Fund, Breakthrough Energy Ventures, Summa Equity, Shell Ventures, SYSTEMIQ, and Horizons Ventures. This new funding complements the initial investment of $24 million the company announced a few weeks ago, bringing the total private investment into ZeroAvia large engine development for 50+ seat aircraft to $37 million. "We are eager and ready to begin testing our hydrogen-electric powertrain technology on a larger commercial-size aircraft and grateful to our investors and grant funders for their continued support of our vision for sustainable aviation," said Val Miftakhov, Founder and CEO at ZeroAvia. About ZeroAvia SOURCE ZeroAvia Related Links
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