It’s not every day that startups receive backing from world-famous billionaires, but for ZeroAvia, that’s exactly what happened. Bill Gates, through his Breakthrough Energy Ventures, has invested even more money in ZeroAvia, an aviation company that is working on a hybrid hydrogen-electric powertrain to change the way the world flies. In December of 2020, Breakthrough Energy Ventures raised $21.4 million for the aviation company. During that funding period, Amazon’s Climate Pledge also aided in funding the ZeroAvia company. Now fast forward to the early part of 2021 and Gates has contributed a second round of funding that will infuse an additional $24.3 million into the company. ZeroAvia has also received funding from British Airways, Summa Equity, and others.
After the current round of investment, ZeroAvia will have over $53 million in private investments and a total of $74 million since the company started raising funds. The funding is helping ZeroAvia begin to make forays into commercial flight. Right now they are working on a 19 seat hydrogen-electric aircraft with a proposal to fly by 2023. This flight from ZeroAvia aviation company will set the stage for further development including a 600-kilowatt powertrain slated for 2024 and 50 seater planes by 2026.
Eventually, the company is planning on launching a 100-seat commercial aircraft by 2030. Clean energy continues to make headlines and President Biden’s American Jobs Plans include clean energy mandates, which could accelerate these developments, overall, at ZeroAvia company. Tax credits and investments in clean technology over the next few years will put aviation companies in a good position for future developments. But they still have to face plenty of technological challenges and competition from companies like California’s Universal Hydrogen, MagniX out of Washington, and others that will break into the market. ZeroAvia is headquartered in England and works in the zero-emissions aircraft industry.
Keep on reading about ZeroAvia aviation company https://techcrunch.com/2020/12/16/zeroavias-hydrogen-powered-vision-for-aviation-nets-21-4-million-from-amazon-shell-and-bill-gates-backed-fund/