ZeroAvia, a hydrogen-electric aircraft developer, has announced that it has completed another round of financing. The company hopes that this financing will help drive its development projects, such as the SuperStack Flex engine.
The investment round was led by Barclays Climate Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, Summa Equity, and AP Ventures, with participation from the National Wealth Fund and the Scottish National Investment Bank.
Development on the SuperStack Flex engine continues
The SuperStack Flex is a modular fuel cell power generation system, meaning it can enable both electric propulsion and on-board electrical power generation. Currently, the hydrogen-electric aircraft developer supplies this particular technology to the defence sector, yet the full cell will be vital in their upcoming projects.
Val Miftakhov, Founder and CEO of ZeroAvia, has stated that “with this latest financing we are able to progress at pace on the most immediate market opportunities – such as the SuperStack Flex – which will enable us to derisk later stages of our roadmap.”
ZeroAvia invests in future commercial aircraft projects
The projects on ZeroAvia’s roadmap include their first full hydrogen-electric powertrain, the ZA600. This new powertrain will be designed for commercial aircraft and will be made to seat around 10-20 people while utilising the aviation developer’s SuperStack Flex fuel cell.
Engine orders are already in place, and the prototype model is currently being tested. With increasing interest in the engine and now with the funding to support an entry-in-service into places such as Norway, ZeroAvia will continue to industrialise and provide hydrogen-electric technology to the aviation market.
As Miftakhov has said, “The support shown in this investment to power the next phase for the company is a great vote of confidence in our technology and roadmap.”
Additionally, the aircraft developer will look to expand its offering of unmanned aerial vehicles due to increased interest in this kind of technology.
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