Destinus’ innovative technology attracted venture funds from across Europe, North America, Latin America, and Asia with several companies providing funds to support the development of hydrogen-powered supersonic flights.

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Using hydrogen within this provides a sustainable and fast manner in which to travel across the globe and thus could open up a booming industry in the aerospace market.

Included in the financing round was Conny & Co, Quiet Capital, One Way Ventures, Liquid2 Ventures, Cathexis Ventures, ACE & Company, among others.

Mikhail Kokorich, founder and CEO of Destinus, said, “We are excited about the broad support for De stinus , which further validates the potential for clean, hypersonic travel to anywhere in the world in 1-2 hours.

“We plan to use the funding to continue the development of our hydrogen airbreathing and rocket engines and test the first supersonic flights powered by hydrogen engines in the next 12-18 months.

“We have already made significant progress and have designed and filed patents for the unique subsystems, such as a hydrogen active cooling system, enabling a highly reusable hyperplane flying at almost the speed of a rocket.”

Philipp Rösler, Chairman of the Advisory Board at Destinus and former Minister of Economics and Technology and the Vice-Chancellor of Germany, said, “It is breathtaking to see a future in which travel anywhere in the world in 1-2 hours will be available. Most importantly, the hyperplane under development will use liquid hydrogen to fuel its engines.

“That gives the great opportunity to fly fast and at the same time be carbon neutral. The only emission of such engines is water. I am excited that companies like Destinus will be able to provide European leadership in the aerospace sector.”