ZeroAvia Closes $150 Million Series C Round to Boost Hydrogen-Electric Aviation Development
- Danielle McLean
- Sep 16, 2024
- 1 min read
ZeroAvia, a leading developer of hydrogen-electric aviation technology, has successfully closed its $150 million Series C financing round. This latest funding will further bolster the company’s efforts to accelerate the commercialization of hydrogen-electric powertrains for zero-emission aviation. With this financing, ZeroAvia is poised to make significant strides in decarbonizing the aviation industry.
The financing round saw participation from existing and new investors, including Barclays Sustainable Impact Capital, NEOM, and AENU, signaling strong investor confidence in ZeroAvia’s innovative technology and future potential. The funds will be used to support the company’s ongoing work to scale its hydrogen-electric powertrain technology for regional aircraft and continue development on larger commercial platforms.
Val Miftakhov, CEO of ZeroAvia, highlighted the significance of this funding, stating, “This Series C round is a major milestone in our journey to bring hydrogen-electric powertrains to commercial aviation. With this funding, we are positioned to accelerate the development and certification of our systems, making zero-emission aviation a reality."
ZeroAvia is focused on developing hydrogen-electric powertrains that will enable regional aircraft to fly emissions-free. The company has already achieved several key milestones, including successful test flights of its hydrogen-powered planes. The new funding will also support the continued expansion of ZeroAvia’s operations and further research into hydrogen infrastructure for aviation.
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(Top image: Credit — ZeroAvia)
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