- New investors Alaska Airlines and United Airlines join existing investors Amazon’s Climate Pledge Fund, AP Ventures, Breakthrough Energy Ventures, Horizons Ventures, Summa Equity and Shell Ventures in the round.
- New raise will accelerate the development of ZeroAvia’s 2-5MW powertrain for larger aircraft.
As the company moves closer to commercialization of its hydrogen-electric technology, ZeroAvia has secured a new raise of $35 million to help develop its 2–5MW zero-emission powertrain system for regional aviation. As announced today, United Airlines has invested in ZeroAvia through this round, and our agreement with United anticipates an order for 50 ZA2000-RJ engines, with an option for 50 more. United joins an already announced new investor, Alaska Air Group, in this round, alongside existing investors Amazon’s Climate Pledge Fund, AP Ventures, Breakthrough Energy Ventures, Horizons Ventures, Summa Equity, and Shell Ventures. This brings the company’s total investment to date up to $115 million.
ZeroAvia is on track to achieve commercialization for its hydrogen propulsion technology in 2024. Initially, the company is targeting a 500-mile range in a 10–20 seat aircraft used for commercial passenger transport, package delivery, agriculture, and beyond. This funding round targets the next segment of 40-80 seat aircraft, targeting turboprops by 2026 and regional jets by 2028. The funding will also allow ZeroAvia to further ramp up presence across its US, UK, and continental Europe locations.