ZeroAvia, a company that specializes in the development of hydrogen and electric propulsion systems for aviation, announced that it has just received new investments of about $35 million to support its innovative work from United Airlines and Alaska Air Group.
Under the agreement, the U.S. airline anticipated a firm order for 50 ZA2000-RJ engines, and an option for 50 more, which are powered by electricity and hydrogen and emit no CO2.
The financing rounds joined by United Airlines and Alaska Air Group reached USD 115 million, which will be used to develop sustainable solutions for 40- to 80-seat turboprop aircraft by 2026, and for regional aircraft by 2028.
Following the agreement, Val Miftakhov, CEO and founder of ZeroAvia, stated, «We are very excited to welcome our new investors, including one of the world’s largest airlines, United, to the ZeroAvia family. As we prepare for both ground and flight testing of our first commercially intended product in the coming weeks, this backing from our investors will allow us to accelerate the delivery of our engine for larger aircraft.»
Over the past few weeks, ZeroAvia has received financial support from several industry-related companies, including Hindustan Aeronautics Limited, ASL Aviation Holdings, Mitsubishi Heavy Industries Regional Jet division, and Rotterdam-The Hague Airport.
See also: It’s this way: MHIRJ and ZeroAvia to collaborate on the design and development of hydrogen-powered regional jets and ZeroAvia and ASL Airlines to collaborate to power ATR 72 cargo aircraft with hydrogen and electricity.
Scott Kirby, CEO of United Airlines, said, «Hydrogen electric motors are one of the most promising paths to emission-free air travel for smaller aircraft, and this investment will keep United at the cutting edge of this important emerging technology. We continue to look for opportunities to not only promote our own sustainability initiatives but also to identify and assist technologies and solutions that the entire industry can adopt.»
ZeroAvia is currently advancing its hydrogen-electric propulsion system for 10- to 20-seat aircraft with a 500-mile range. These engines can be installed in operational passenger, cargo, agricultural and other aircraft. The development has already received experimental certification for its two prototype aircraft by both the U.S. Federal Aviation Administration (FAA) and the U.K. Civil Aviation Authority (CAA).
