Sunday, January 24, 2021
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

Hydrogen plane startup ZeroAvia raises $21.4 million in funding round led by Breakthrough Energy Ventures and others

Jaleel M. by Jaleel M.
December 18, 2020
in Business
0
Hydrogen plane startup ZeroAvia raises $21.4 million in funding round led by Breakthrough Energy Ventures and others
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter



The announcement brings the total new funding to $37.7 million and the total funding since inception to $49.7 million.

Related posts

Union Budget 2021: GST continues to be a challenge; govt must make changes to ease compliance burden

Union Budget 2021: GST continues to be a challenge; govt must make changes to ease compliance burden

January 23, 2021
Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy

Union Budget 2021: Nirmala Sitharaman should give special focus on financial sector to kickstart economy

January 23, 2021

Hydrogen plane startup ZeroAvia announced on 16 December that it has secured $21.4 million in a funding round led by Bill Gates’ Breakthrough Energy Ventures to develop zero-emission commercial aircraft. The Series A funding round also saw participation from Ecosystem Integrity Fund, with follow-on investors Amazon Climate Pledge Fund, Horizons Ventures, Shell Ventures (energy giant Royal Dutch Shell), and Summa Equity.

In addition, the company established a partnership with British Airways and received approval for new UK government funding through the ATI Programme to deliver an additional $16.3 million of non-dilutive funding. The announcement brings the total new funding to $37.7 million and the total funding since inception to $49.7 million.

The investment comes on the heels of the company completing the UK’s first-ever commercial-scale battery-electric flight in June 2020 and the first flight of the largest hydrogen fuel cell aircraft in September 2020 as part of the innovative HyFlyer I project. ZeroAvia expects a long-distance flight of 250 miles in the next three months.

Val Miftakhov, founder and CEO of ZeroAvia, said, “Our most recent milestone achievements are closing the gap for the airline industry to begin its transition away from fossil fuels. In fact, over ten forward-looking airlines are now gearing up to implement our powertrains when they are ready in 2023. Both aviation and the financial markets are waking up to the idea that hydrogen is the only meaningful path towards large-scale, zero-emission commercial flight. Powering a 100-seat plane on hydrogen is not out of the question. We feel deeply grateful to our top-tier investors for joining us in the next phase of our exciting journey; to bring in a new golden age of aviation.”

Thank you to @amazon Climate Pledge Fund for investing in our recently-closed $21.4 million Series A funding round! Without you and our other top-tier investors, decarbonizing an important but challenging sector like aviation would take much longer. #climatepledge pic.twitter.com/rPeDRRi6n9

— ZeroAvia (@ZeroAvia) December 16, 2020

Thank you to @SummaEquity for investing in our $21.4 million Series A funding round! Together we will accelerate the development of hydrogen-electric powertrain technology and achieve the important and aggressive flight milestones we have ahead of us. pic.twitter.com/VHeDltVhwC

— ZeroAvia (@ZeroAvia) December 16, 2020

ZeroAvia, which has been conducting test flights in Britain, aims for commercial flights of up to 500 miles using 10- to 20-seat aircraft by 2023 and commercial jets able to haul up to 200 passengers 3,000 miles by 2030.

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.





Source link

Previous Post

PhonePe raises Rs 150 crore from majority stakeholder Flipkart bringing its valuation to $5.5 billion- Technology News, Firstpost

Next Post

Coca-Cola to lay off 17% global workforce as part of restructuring amid COVID-19 challenges

Next Post
Coca-Cola to lay off 17% global workforce as part of restructuring amid COVID-19 challenges

Coca-Cola to lay off 17% global workforce as part of restructuring amid COVID-19 challenges

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

D.C. Mayor Changes Street Name t to Black Lives Matter Plaza

D.C. Mayor Changes Street Name t to Black Lives Matter Plaza

8 months ago
England vs Pakistan: Azhar Ali Says Pakistan Looking To Target England’s “Fragile” Top-Order

England vs Pakistan: Azhar Ali Says Pakistan Looking To Target England’s “Fragile” Top-Order

7 months ago
Michael Holding Says Entertainment In Sport Is About Quality Of Play Not What Happens In Stands

Michael Holding Says Entertainment In Sport Is About Quality Of Play Not What Happens In Stands

7 months ago
US envoy arrives in South Korea as Pyongyang rejects talks, East Asia News & Top Stories

US envoy arrives in South Korea as Pyongyang rejects talks, East Asia News & Top Stories

7 months ago

FOLLOW US

  • 79 Followers
  • 29.5k Followers
  • 82.6k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • KRISTIN LASH & JAKOB GREY Team Up On “Sleeping With The Lights On”

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • A Blackhat Hacker Durgesh Singh Kushwah Tells Us All!

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy