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Image Credit: ZeroAvia
Zero-emission aviation pioneer ZeroAvia has revealed that its Series C funding round has surpassed $150m, bolstered by a £20m investment from the Scottish National Investment Bank. This marks the government-backed impact investor's first foray into hydrogen-based technology and sustainable aviation.
ZeroAvia plans to use this fresh injection of capital to strengthen its aerospace supply chain in Scotland. It also ambitions to establish a manufacturing facility in the region, further expanding its footprint in the zero-emission aviation sector.
The Scottish National Investment Bank joins a growing roster of high-profile backers, including American Airlines, International Airlines Group, and ITOCHU Corporation. The round was co-led by Airbus, Barclays Sustainable Impact Capital, and the NEOM Investment Fund, with the UK Infrastructure Bank stepping in as a cornerstone investor. Existing supporters like Alaska Airlines and Amazon's Climate Pledge Fund contributed to this latest funding effort.
"We have closed an exceptionally strong financing round to help us deliver the clean future of flight for the entirety of aviation," said Val Miftakhov, ZeroAvia founder and CEO. "As a purpose-driven impact investor, the Bank is an ideal partner for ZeroAvia.
"Scotland's ambitious net zero targets, its strategic focus on hydrogen, and its strong existing aerospace skills base make it an attractive place for ZeroAvia's UK production operations as we scale into a major aerospace manufacturer."
ZeroAvia has already flight-tested its prototype ZA600 engine aboard a Dornier 228 aircraft at its UK facility, with certification currently under review by the Civil Aviation Authority. In parallel, the company has conducted advanced ground tests in the US and UK for its more extensive ZA2000 system, which will support aircraft with up to 80 seats. Additionally, ZeroAvia is marketing its core component technologies, such as electric motors and fuel cell power systems, to other electric aviation innovators.
The company has also secured several significant partnerships, including a conditional purchase agreement with American Airlines for 100 hydrogen-electric engines to power its regional jets and a deal to supply 22 hydrogen-electric engines to Ecojet, an emerging electric airline start-up.
ZeroAvia has accumulated more than 2,000 pre-orders for its hydrogen-electric engines and component technologies, solidifying its position as a leader in zero-emission aviation.
"Decarbonising aviation is one of the key environmental challenges we face, and it is fundamental to the net zero transition," said Robin Tayal, investment director at Scottish National Investment Bank. "We are pleased to address it by investing in ZeroAvia, enabling critical research and manufacturing.
"We are particularly encouraged by the potential of its technology to provide sustainable connectivity in the Highlands and Islands."
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