Report: Sustainable aviation startup ZeroAvia aims for $150M to stay airborne through 2028
Sustainability: News about the rapidly growing climate tech sector and other areas of innovation to protect our planet. SEE MORE
ZeroAvia, a sustainable aviation company with R&D and manufacturing operations in Everett, Wash., is trying to quickly raise a $150 million funding round that will keep it aloft through the end of 2028, CEO Val Miftakhov told Bloomberg. Earlier this week, ZeroAvia announced that RVL Aviation will retrofit Cessna Grand Caravan aircraft with the company's hydrogen-electric ZA600 powertrain for its cargo operations in the United Kingdom.
ZeroAvia, which is based in California and the UK, is working with the U.S. Federal Aviation Administration and the UK's Civil Aviation Authority for certification.
The company aims to start commercial production late next year, or in 2027, Bloomberg reports. It has deals with aircraft manufacturers and more than 2,000 orders for engines and components from airlines, cargo operators and others.
The company announced a $130 million round in September, and has raised about $300 million from investors and through grants.
Aviation is one of the more difficult industries to shift off of fossil fuels and contributes 2.5% of the greenhouse gases emitted annually.
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