ZeroAvia, a sustainable aviation startup, completed a funding round totalling $150 million. The company is focused on developing hydrogen-electric airplanes and has received orders for engines and components from over 2,000 customers, including airlines and cargo operators. ZeroAvia has partnered with aircraft manufacturers and celebrated a collaboration with Alaska Airlines to retrofit a retired plane with its propulsion system. The startup is seeking certification for a powertrain designed for aircraft with up to 20 seats and is working on engines for planes with up to 80 seats.
ZeroAvia, which is based in California and the United Kingdom, has a strong presence in Washington state, where it conducts research and operates a 136,000-square-foot manufacturing facility at Everett’s Paine Field. The company is looking to expand its manufacturing capacity in the UK as well. The aviation industry, which contributes 2.5% of annual greenhouse gas emissions, is challenging to transition away from fossil fuels. With air travel expected to increase, hydrogen and battery-powered flight, as well as sustainable aviation fuels, are seen as potential solutions to reduce carbon emissions.
ZeroAvia’s latest funding round was co-led by Airbus, Barclays Sustainable Impact Capital, and NEOM Investment Fund, with support from other investors such as the UK Infrastructure Bank, Scottish National Investment Bank, American Airlines, International Airlines Group, and others. The company had previously announced an earlier stage of funding with investors including Bill Gates’ Breakthrough Energy Ventures, Alaska Airlines, and Amazon Climate Pledge Fund. The additional funding will help ZeroAvia further its development of hydrogen-electric aircraft technologies and increase its manufacturing capacity to meet the growing demand for sustainable aviation solutions.
This Series C round follows a $72 million Series B round and a $56 million Series A round that ZeroAvia previously raised. The company’s progress in developing hydrogen-electric propulsion systems for varying sizes of aircraft, along with partnerships with major industry players, demonstrates its commitment to transforming the aviation sector to reduce its environmental impact. With the support of investors from various sectors, ZeroAvia is well-positioned to continue its advancements in sustainable aviation and bring hydrogen-electric airplanes closer to commercial deployment.
ZeroAvia’s demonstration of its engine on May 1, 2023, at Paine Field showcased its 900-kW engines and Q400 propeller on a ground-test truck. The company’s innovative approach to hydrogen-electric aircraft technology is gaining traction in the industry, evidenced by the significant interest from airlines, cargo operators, and other customers. By focusing on certification for different aircraft sizes and expanding its manufacturing capabilities, ZeroAvia is poised to play a pivotal role in accelerating the adoption of sustainable aviation solutions and reducing the environmental impact of the aviation industry.
With the aviation industry facing pressure to reduce its carbon footprint, ZeroAvia’s advancements in hydrogen-electric propulsion systems and partnerships with key stakeholders highlight the potential for sustainable aviation solutions to address climate change. By securing significant funding and support from investors, ZeroAvia is well-positioned to drive innovation in the industry and bring hydrogen-electric airplanes closer to commercial viability. As the company continues to expand its operations and develop new technologies, it is contributing to a more sustainable future for air travel and paving the way for a cleaner, greener aviation industry.
