Anglo-US hydrogen electric aircraft developer ZeroAvia has attracted funding from a host of big companies, including Royal Dutch Shell PLC (LSE:RDSB), United Airlines Inc (NASDAQ:UAL) and Amazon.com, Inc. (NASDAQ:AMZN), as it raised US$35mln (£26.4mln) to develop its zero-emissions aeroplane.
With backing from United Airlines, Alaska Air, AP Ventures, Breakthrough Energy Ventures, Horizons Ventures, Summa Equity, as well as Shell Ventures and Amazon's Climate Pledge Fund, the Gloucestershire- and California-based company has now drummed up total investment to date of US$115mln.
ZeroAvia said it is on track for its hydrogen propulsion technology to be on the market in 2024, with the target to launch a 20-seat commercial aircraft targeted with a range of 500 miles for commercial passenger transport, package delivery, agriculture and more.
This latest funding round will allow the company to begin working towards 40-80 seat turbo-prop aircraft by 2026 and regional jets by 2028.
Chief executive Val Miftakhov said: "As we prepare for ground and flight testing of our first commercial intent product in the coming weeks, this backing by our investors will enable us to accelerate delivery of our engine for larger aircraft. We are tremendously grateful to all our investors who are helping us achieve our mission - a world where every aircraft is powered by hydrogen-electric engines, delivering a true zero-emission future for flying."
ZeroAvia's hydrogen-electric engines use electricity created by a chemical reaction in the hydrogen fuel cell in order to power an electric motor.
As the technology does not produce any carbon emissions during flight, the company says it is potentially a much greener alternative to fossil-fuelled planes.
ZeroAvia carried out a first test flight of a fuel cell-powered aircraft in September, and it says experimental certificates have been secured for its two prototype aircraft from the UK's Civil Aviation Authority and the US Federal Aviation Administration, "on track" for commercial operations in 2024
The interest from the airline industry was expressed by United Airlines, which has taken an undisclosed equity stake in the firm.
United CEO Scott Kirby said: “Hydrogen-electric engines are one of the most promising paths to zero-emission air travel for smaller aircraft, and this investment will keep United out in front on this important emerging technology. United continues to look for opportunities to not only advance our own sustainability initiatives, but also identify and help technologies and solutions that the entire industry can adopt.”
United said the 100% hydrogen-electric ZA2000-RJ engines could be fitted to existing regional aircraft (pictured) by as soon as 2028, potentially on 50-seater CRJ-550 models.
The US carrier said today's deal includes a conditional purchase agreement for 50 ZeroAvia ZA2000-RJ engines with an option for 50 more, which would altogether be enough for up to 50 twin-engine aircraft operated by United Express partners, once certified by regulators.
In January, ZeroAvia won a £12.3mln UK government grant to help with the development of its HyFlyer II aircraft, a 19-seater air-taxi is powered by a hydrogen-electric powertrain that the company had hopes would be carrying passengers “as early as the end of 2023”.
In June the company revealed the development of HyFlyer II has included the demonstration of a 250kW powerplant in a 6-seat aircraft across three flight test campaigns, including a fuel-cell only cruise flight.
It raised US$13mln in the same month, including from AP Ventures, Shell Ventures and Amazon's Climate Pledge Fund.