In raising this capital, it could significantly aid in the development of hydrogen-fuelled planes and could provide hydrogen with a springboard to expand into the Australian aerospace sector.

Read more: Aviation H2 established to provide hydrogen solutions for the aviation market
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To gain the funding, Aviation H2 will open itself to investors via the inline trading platform VCEX with the company also expecting initial testing of the green engine in March 2022.

This testing will then lead to a working prototype by the end of the year with the company then hoping to have the first plane in the sky within the next 18 months.

Should this target be achieved, hydrogen-fuelled planes could then be the norm in Australia with the nation additionally expanding its production capabilities and infrastructure and thus could well support the introduction of the next-generation green planes.

Aviation H2 believes this creates an opportunity for Australia to become a global leader in this space as it is yet to be commercialised with the company also planning to capitalise on this industry, which is projected to reach $174.02 billion by 2040.

Dr Helmut Mayer, Lead Engineer and Company Director at Aviation H2, said, “Taking inspiration from my colleagues, it is time to start on the road to decarbonising aviation, and there is nothing that cannot be done with a relevant dose of thought and attention.

“On this note, we have commenced our journey by evaluating all of the existing technologies available to us and taking a close look at the uncertainties and what risks and opportunities these present.

“This will give us sound information for making decisions into the next phase of the project.”

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