British company Cranfield Aerospace Solutions, which specialises in the development of new aerospace concepts and hydrogen propulsion solutions, has secured a new funding agreement, the company said.
Under the deal, the Strategic Development Fund (SDF), the investment arm of Tawazun Economic Council of the UAE, and Motus Ventures, a capital fund that aims to «invest in breakthrough frontier technologies to solve humanity’s biggest challenges», will provide up to 14.4 million pounds (more than 17 million euros) to support the Project Fresson.
In March 2021, Cranfield Aerospace Solutions had announced that it would leverage the latest advances in hydrogen fuel cells technologies for the development of a commercially viable propulsion system for the British-built Britten-Norman BN-2 Islander aircraft.
After completing evaluations and studies of different technologies and configurations for aircraft propulsion with low emissions, the project team chose the hydrogen fuel cell as the most viable solution to meet environmental and regulatory requirements. In turn, they highlighted the efficiency and cost reduction for operators.
«We are very excited to welcome our new investors to join us on our journey in delivering the world’s first fully certified zero-emissions commercial passenger aircraft to the market», said Paul Hutton, CEO of Cranfield Aerospace Solutions. «To continue the work on Project Fresson we need private investment», he added.
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