ZeroAvia Secures Additional $21.4 Million in Venture and $16.3 Million in Grant Funding to Accelerate its Hydrogen-Electric Powertrain Solutions for Zero-Emission Airplanes

— Investments from Amazon Climate Pledge Fund, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, Shell Ventures, and Summa Equity.
— Approval of additional grant funding of $16.3 million from Department for Business Energy & Industrial Strategy (BEIS), Aerospace Technology Institute (ATI), and Innovate UK.

— Partnership with British Airways, through Hanger 51 Accelerator to explore how hydrogen-powered aircraft can play a leading role in the future of sustainable flying.
Hollister, Calif., December 16, 2020 — ZeroAvias mission to transition the world to zero-emission, hydrogen-fueled flight picked up a significant tailwind today as the startup announced $21.4 million in new funding in a Series A round. Breakthrough Energy Ventures and Ecosystem Integrity Fund led the raise, with follow-on investors Amazon Climate Pledge Fund, Horizons Ventures, Shell Ventures, and Summa Equity. In addition, the company established a partnership with British Airways and received approval for new UK government funding through the ATI Programme to deliver an additional $16.3 million of non-dilutive funding breakthrough 19-seat hydrogen-electric powered aircraft that is market-ready by 2023. Today’s announcement brings the total new funding to $37.7 million and the total funding since inception to $49.7 million.

The fundraise allows ZeroAvia to accelerate the development of its hydrogen-electric powertrain further. The Series A funds the next phase of the company’s R&D program, which focuses on developing and testing the certification-ready ZA-600 powertrain capable of flying 10 – 20 seat aircraft up to 500 miles. The investment comes on the heels of the company completing the UK’s first-ever commercial-scale battery-electric flight in June 2020 and the first flight of the largest hydrogen fuel cell aircraft in September 2020 as part of the innovative HyFlyer I project. ZeroAvia expects a long-distance flight of 250 miles in the next three months. Read more