ZeroAvia, an aviation engineering company, is set on creating zero emission air travel at scale. Their plans begin with 500-mile short-haul trips which will be half that of today’s cost. They have recently announced the next phase of their 19-seat program as well as plans for their 50+ seat engine.
Their 19-seat flight aims to decarbonize regional air travel. They have secured two Fornier 228 aircrafts to help in the next phase of its R&D. This R&D is part of their HyFlyer II which requires the development of a hydrogen fuel cell powertrain. HyFlyer I showed a successful demonstration of a 250kW powerplant within a 6-seat aircraft. They intend to expand this to a 600kW 19-seater powerplant for the HyFlyer II.
ZeroAvia has also secured an extra $13 million in funding to support their endeavours in their 50+ seat engine development. One investor, AP Ventures, is known for their commitment to breakthrough technologies across the hydrogen value chain. Other investors include SGH Capital, Agartha Fund LP, Amazon’s Climate Pledge Fund, Breakthrough Energy Ventures, Summa Equity, Shell Ventures, SYSTEMIQ, and Horizons Ventures. This new funding will combine with the existing $24 million raised a few weeks ago.
ZeroAvia’s new 30,000-square foot Kemble facility will act as the dedicated base for developing ZeroAvia’s 600kW engine class and marks a significant investment in and expansion of its UK-based R&D program. The company’s Hollister, California location will assist the UK team with testing and will be responsible for building the second demonstration aircraft for commercialization of technology in North America. The company currently employs about 50 people, expanding to over 100 in the next 12 months across both the US and UK.
Who We Are:
If you would like to find out more about how your business could benefit from R&D Tax Credit, contact a Swanson Reed R&D Tax Advisor today.
The post ZeroAvia has Announced $13M in Funding for their Zero Emission Aviation appeared first on Swanson Reed | Specialist R&D Tax Advisors in the UK.
