This capital raise is expected to support in the development of the hydrogen-fuelled aircraft with the company seeking $500k to achieve this.

The capital raise comes as the feasibility study has been completed, which provides a clear pathway to building Australia’s first hydrogen-powered plane.

As well as this, a strategic partnership with FalconAir gives Aviation H2 access to their Bankstown hangar, facilities and operating licences so they can begin building Australia’s first hydrogen-powered plane.

FalconAir will help Aviation H2 acquire test engines and aircraft that will be used to deliver the project.

The aim of the company is to modify existing aircraft to be powered by green hydrogen, meaning uptake will be quick as the assets already exist.

Aviation H2 has also identified liquid ammonia as a means to achieve hydrogen-powered aviation by 2023.

A study into what fuel could help achieve hydrogen-fuelled aircraft by 2023 revealed that liquid ammonia could be the best method in achieving this target.

In fact, the company’s research shows that converting a Falcon 50 to Liquid Ammonia Turbofan Combustion is the most efficient and commercially viable avenue to building a hydrogen-powered plane.

This will now see Aviation H2 modify turbofan engines in order to test and prove the concept.