ZeroAvia has concluded its Series C funding round, amassing a total of $116 million. This funding, with key participation from the UK Infrastructure Bank, Airbus, Barclays Sustainable Impact Capital, and NEOM Investment Fund (NIF), positions ZeroAvia at the forefront of clean propulsion technology for larger aircraft.
The infusion of capital not only fuels the company’s engine certification efforts but also propels research and development initiatives, solidifying the UK’s pivotal role in aviation and hydrogen innovation.
ZeroAvia’s triumph in securing $116 million in its Series C funding round marks a strategic alignment of visionary investors, including the UK Infrastructure Bank, Airbus, Barclays Sustainable Impact Capital, and NEOM Investment Fund (NIF). The culmination of this funding series accelerates ZeroAvia’s mission to attain engine certification milestones and drive forward research and development endeavors aimed at scaling clean propulsion technology for larger aircraft.
Aviation, a rapidly expanding sector, poses a formidable challenge in terms of decarbonization, contributing over 38 million tonnes of CO2 from international and domestic journeys associated with the UK. A quarter of the UK’s predicted carbon emissions in 2050 are attributed to aviation. ZeroAvia’s Series C funding positions it strategically to play a vital role in meeting the UK government’s ambitious target of aviation decarbonization by 2050. The focus is on pioneering new clean propulsion technologies that could be operational between UK airports within this decade.
A thriving sustainable hydrogen ecosystem emerges as a linchpin for achieving net-zero emissions. The UK Infrastructure Bank’s significant role as a cornerstone-level investor underscores its commitment to acting as a market leader in fostering a robust hydrogen ecosystem. Hydrogen’s success in aviation is poised to act as a catalyst, paving the way for the development and widespread deployment of hydrogen infrastructure. This, in turn, contributes to the establishment of a green hydrogen market not only in the UK but also on a global scale. The UK Infrastructure Bank’s involvement aligns seamlessly with its mandate to support emerging technologies, attract private investment, and address regional growth and climate change simultaneously.
ZeroAvia’s Series C funding not only signifies a financial milestone but also outlines the strategic implications for the aviation industry. The infusion of capital provides the impetus needed to certify groundbreaking clean propulsion technologies. Moreover, it propels ZeroAvia towards ambitious growth plans, positioning the company as a key player in shaping the future of sustainable aviation.
As aviation charts a course toward sustainability, ZeroAvia’s Series C funding heralds a new era of innovation and commitment. The collaboration with visionary investors, including the UK Infrastructure Bank, sets the stage for groundbreaking advancements in hydrogen-powered aviation. With an eye on achieving net-zero emissions and addressing the challenges of decarbonizing aviation, ZeroAvia emerges as a trailblazer in the green aviation revolution.