ZeroAvia Secures $21.4M for Hydrogen-Powered Aviation

ZeroAvia, a company dedicated to enabling zero-emission, hydrogen-powered flight, has recently secured a new investment of $21.4 million to further its goals.

This funding round was led by Ecosystem Integrity Fund and Breakthrough Energy Ventures, a firm supported by Bill Gates, with participation from existing investors including Amazon Climate Pledge Fund, Horizons Ventures, Shell Ventures, and Summa Equity.

The aviation sector significantly contributes to carbon emissions driving global warming, and alongside maritime transport, presents one of the most challenging areas for decarbonization. Current electrification technologies are not yet suitable for powering aircraft or large ships, leading many experts to believe hydrogen offers the most promising path toward achieving zero-emissions flight.

“I firmly believe in the potential of hydrogen; with sufficient quantities of zero-carbon hydrogen available at a reasonable cost, a wide range of applications become feasible,” stated Eric Toone, Executive Managing Director and Science Lead at Breakthrough Energy Ventures.

Backers within the industry anticipate that ZeroAvia could provide solutions to numerous challenges facing aviation. The company has formed a partnership with British Airways and received a $16.3 million grant from the U.K. government to prepare its 19-seat hydrogen-electric airplane for market release by 2023.

Shell Ventures reaffirmed its support for ZeroAvia by increasing its investment in this round, recognizing the company’s distinct strategy of combining established technologies to bring hybrid hydrogen-electric flight to fruition.

“While the individual components themselves aren’t groundbreaking, the integration of these elements into a cohesive system is. This involves not only successfully flying a plane but also engaging with regulatory bodies to determine necessary changes and navigate the process of commercial implementation,” explained Paul Bogers, Vice President of Hydrogen at Shell.

ZeroAvia is currently developing and testing the ZA-600 powertrain, designed to power aircraft with 10 to 20 seats for flights up to 500 miles. Earlier this year, the company successfully completed the first commercial-scale battery electric flight and the inaugural flight of an aircraft powered by a hydrogen fuel cell. They anticipate completing a long-distance flight of 250 miles within the next three months.

Val Miftakhov, founder and CEO of ZeroAvia, and a seasoned entrepreneur whose previous company, eMotorWerks, was acquired by Enel, believes these flights validate his conviction that hydrogen power is the key to transforming the aviation industry.

A crucial aspect of the company’s success lies in its ability to leverage existing electrolyzer technologies to convert natural gas into hydrogen, which can then power the aircraft’s systems, according to Miftakhov.

“We oversee the fuel supply chain,” Miftakhov explained. “We have already demonstrated this capability at the Cranfield airport, producing our own fuel from electricity and water. We are not focused on developing new hydrogen manufacturing technologies; instead, we are collaborating with partners specializing in electrolysis.”

ZeroAvia is currently working with Enapter to supply the electrolyzer and plans to deploy larger systems at additional airfields in the U.K. and U.S. as part of its ongoing demonstration projects.

“The volume of hydrogen consumption makes on-site fuel production economically feasible, which is a significant advantage. Eliminating the need for transportation – and the associated challenges of liquefaction and low fuel density – simplifies the process considerably. We believe infrastructure will not be a major obstacle,” Miftakhov said.

Miftakhov’s experience building eMotorWerks prompted him to investigate hydrogen as a solution for the aviation industry. “Batteries lack the necessary energy density for aircraft applications,” he noted. “Aviation is the most energy-intensive mode of transportation, and mid-flight refueling is not an option.”

Initially, the company will target the retrofit market for 10 to 20-seat aircraft used on short-haul routes in Asia and the Caribbean, Miftakhov indicated.

However, ZeroAvia has established relationships with seven major aircraft manufacturers who are exploring ways to integrate the company’s powertrains into their aircraft designs, and the company aims to incorporate its technology into larger passenger planes, such as the A320 or 737, by the end of the decade.

Achieving a hydrogen-powered fleet will require more than just technological advancements, Miftakhov emphasized. Government intervention will also be essential.

“With a collective goal of achieving zero emissions and net zero by 2050, we are already behind schedule. A 2050 target represents a single vehicle lifecycle. Governments will likely implement policies to accelerate the turnover of vehicles,” he stated.

Miftakhov intends to be prepared when such regulations are enacted. The company has already secured letters of intent for retrofitting over 100 aircraft and is laying the foundation for developing new aircraft types.

For corporate investors like Amazon, committed to decarbonizing by 2040, accelerating innovation and industry adoption is paramount.

“Amazon created The Climate Pledge Fund to support the development of technologies and services that will enable Amazon and other companies to reach the goals of the Paris Agreement ten years early — achieving net zero carbon by 2040,” said Kara Hurst, VP Worldwide Sustainability, Amazon. “ZeroAvia’s zero-emission aviation powertrain has real potential to help decarbonize the aviation sector, and we hope this investment will further accelerate the pace of innovation to enable zero-emission air transport at scale.”