Barclays Sustainable Impact Capital, NEOM, AENU, joined the investment, with International Airlines Group (IAG) adding to its prior investment, closing the Series B round to $68m.
H2 View understands ZeroAvia plan to use the funding to build infrastructure at airport sites to support live demonstrations of its Hydrogen Refuelling Ecosystem (HARE) as it prepares routes carrying passengers and cargo in years to come.
The funding rounds has seen three airline groups as strategic investors in ZeroAvia, in the shape of IAG, United Airlines and Alaska Airlines, hinting at the desire to make hydrogen-powered flight widely available at a commercial level.
Luis Gallego, Chief Executive at IAG, commented, “IAG has been leading aviation´s efforts towards achieving Net Zero emissions by 2050. We are investing in a range of solutions, including hydrogen, which we believe has huge potential especially for short-haul routes.”
Val Miftakhov, founder and CEO at ZeroAvia, said, “Each of these star investors brings a unique perspective and strength to ZeroAvia’s wider team, from one of the world’s biggest airline groups, one of the largest and most historic banks, to the ambitious project to build the world’s first zero-carbon metropolis, as well as a pure-play impact investor.
“Our new investors are each looking at our journey through a different lens, but all energised by our mission to enable zero-emission flight using hydrogen-electric engines. This is a great recognition of ZeroAvia’s leadership in the space, fuelled by real, tangible achievements.”
H2 View’s Hydrogen in India – Snap Summit
With the launch of its national hydrogen strategy in recent weeks and growing interest in India’s bold ambitions to de-leverage from traditional fossil fuel-based energy, H2 View stages a Snap Summit to address the country’s path forward in hydrogen.
India plans to manufacture five million tonnes of green hydrogen per annum by 2030 and not just meet its own climate objectives but become a production and export hub for the clean fuel.
Some sources question a lack of detail over the wider ecosystem while others still point to the country’s reliance on coal power. Yet, the world’s third-largest energy consuming country is already embracing renewable energy, its solar power sector is moving forward, and data suggests coal’s hold over India’s power sector is steadily loosening. The grid is already evolving.
The question is, how can a renewable energy powerhouse fast-track to true sustainability with green hydrogen? Join H2 View and a programme of global hydrogen leaders to unlock answers and insights for the short, medium, and long-term future in India.
Want to learn more? Click here.