In relation to developing the hydrogen-powered aircraft, the capital raised will be put towards conducting a study for the development of a green energy jet engine powered by hydrogen.
This could help support not only the growing hydrogen aviation sector but also provide further demand for hydrogen in Australia.
In doing so, it creates an incentive to invest in the Australian hydrogen sector with the market projected to grow significantly in the coming years with Aviation H2 expecting the sector to reach $174bn by 2040.
Australia, with its abundance of renewable energy sources and hydrogen production pipeline, has the opportunity to become a global in this space and Aviation H2 will continue to create innovative zero-carbon solutions for the industry to thrive.
The company is looking to achieve this by developing a state-of-the-art method for converting a traditional aircraft into a hydrogen-fuelled plane, allowing potential customers to modify existing aircraft rather than investing in an entirely new fleet.
Dr. Helmut Mayer, Director of Aviation H2, said, “One of the most critical features of our work is to ensure we use existing, and certified, technology as much as possible. We will start with an existing aircraft and retain as much of the base certification as possible.
“Making use of established technologies and infrastructure will also be important to offer our customers as much as possible of what they are already familiar with and what they have already invested in.
“This he something that is really resonating with investors as it shows an achievable pathway to transforming an industry and generating revenue.”
A seismic shift for aviation: Airbus sets its sights on hydrogen powering the future of aircraft
Representing approximately 2.5% of global greenhouse gas emissions, the aviation industry is in need of a disruptive change to its ‘business as usual’ if it is to meet its net zero objectives by 2050. One energy carrier emerging as a game-changing contender in the transformation of the sector is hydrogen, and Airbus is ready to be the catalyst for change.
With a 50-year track record of innovation, technological firsts and industry milestones, the designer and manufacturer of aerospace products, services and solutions to a customer base worldwide has indeed been ‘making it fly’ since the 1960s.In 1972, Airbus’ first aircraft, and the world’s first wide-body twin-aisle commercial aircraft, the A300B, performed its maiden flight, which at the time signalled the first steps towards changing the face of modern aviation. And Airbus is once again set to transform flight.
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