2030 Finance | December 17, 2020

ZeroAvia clinches $37.7 million to speed zero-carbon air travel

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, December 17 – The aviation industry has become more fuel efficient in recent years, but global demand for air travel (pre-pandemic) put the sector on pace to be one of the biggest carbon emitters by 2050.

ZeroAvia is working on new hydrogen-based fuel cells that could speed the sector’s green transition when demand finally does rebound. The Hollister, Calif.-based company’s first product is reportedly able to fly a 10 to 20-seat aircraft for 500 miles.

“Hydrogen fuel is a critical component in the transition to a sustainable economy—particularly in the airline industry,” said Carmichael Roberts of Breakthrough Energy Ventures.

The billionaire-backed climate tech fund invested in ZeroAvia’s $21.4 million Series A equity round alongside Ecosystem Integrity Fund, Horizons Ventures, Shell Ventures, Summa Equity and Amazon’s Climate Pledge Fund (see, Amazon’s $2 billion Climate Pledge Fund ups the ante ).

ZeroAvia also scored $16.3 million in grants from the U.K. government. British Airways is supporting the company’s research and development.