ZeroAvia, a Hollister, CA-based company which specializes in zero-emission aviation, raised $116M in Series C funding.
The round was led by Airbus, Barclays Sustainable Impact Capital and NEOM Investment Fund (NIF). Breakthrough Energy Ventures, Horizons Ventures, Alaska Airlines, Ecosystem Integrity Fund, Summa Equity, AP Ventures and Amazon Climate Pledge Fund have also participated in the funding round.
The company intends to use the funds to accelerate the its journey to certification of its first engines and advance R&D that will scale the clean propulsion technology for larger aircraft.
Led by Val Miftakhov, Founder and CEO, ZeroAvia aims to deliver a hydrogen-electric engine in every aircraft as the most environmentally and economically friendly solution for addressing the industry’s climate impact. The company is starting with engines to support a 300-mile range in 9–19 seat aircraft by the end of 2025, and up to 700-mile range in 40–80 seat aircraft by 2027. Founded in California and now with teams also in Everett, WA and the United Kingdom, it has secured experimental certificates to test its engines in three separate testbed aircraft with the FAA and CAA and passed significant flight test milestones. The company has signed a number of engineering partnerships with aircraft OEMs and has nearly 2,000 pre-orders for engines from a number of global airlines.
FinSMEs
27/11/2023