Friday, September 30, 2022
Home > TECHNOLOGY > ZeroAvia Raises $35-Million Fund for Zero-Emission Flight Technology

ZeroAvia Raises $35-Million Fund for Zero-Emission Flight Technology

As the company ‘ZeroAvia’ has been moving closer to the commercialization of the company’s hydrogen-electric technology, ZeroAvia has successfully secured a new fund raise of 32 million dollars for providing help in the process of developing the 2 MW to 5 MW zero emission powertrain system for the aviation in the region.

According to the announcement, the company ‘United Airlines’ has also invested in the ZeroAvia and the agreement of the company with United Airlines has been anticipating an order for the 50 engines called as ZA2000-RJ, along with an option for more 50 engines. This investment has brought the total investment to 115 million dollars to date.

The company ‘ZeroAvia’ has been on the track for achieving the commercialization for the company’s technology of hydrogen propulsion in the year 2024, and initially, the company has also been targeting a range of 500 miles in 10 to 20 seat aircraft, which is going to be used for the commercial passenger transport, along with agriculture, package delivery and beyond.

This funding is going to round the targets of the next segment of the 40 to 60 seat aircraft, along with targeting the turboprops by the year 2026 and also the regional jets by the year 2028, and this funding is also going to allow the company for further ramping up the presence across the location of the company in the regions like the United Kingdom, continental Europe and the United States of America.