ZeroAvia today announced that it has extended its Series C financing to a total of $150m, with a £20m investment from Scottish National Investment Bank coming alongside recent investments from American Airlines, International Airlines Group (IAG) and ITOCHU Corporation. The round was co-led by Airbus, Barclays Sustainable Impact Capital and NEOM Investment Fund (NIF), with UK Infrastructure Bank joining as a cornerstone-level investor, and with strong support from existing shareholders including Breakthrough Energy Ventures, Horizons Ventures, Ecosystem Integrity Fund, Summa Equity, Alaska Airlines, Amazon’s Climate Pledge Fund and AP Ventures. This is the Bank’s first investment in hydrogen-based technology and the sustainable aviation sector and will bolster the burgeoning aerospace supply chain in Scotland as ZeroAvia looks to create a manufacturing facility in the country. ZeroAvia has already extensively flight tested a prototype of its first ZA600-engine aboard a Dornier 228 aircraft at its UK base and the application for certification is underway with the CAA. The company has also performed advanced ground tests in the US and UK for the key building block technologies for the ZA2000 system, including cryogenic tanks for LH2 and proprietary high-temperature PEM fuel cell and electric propulsion systems. ZA2000 will support up to 80 seat regional turboprop aircraft such as the ATR72 and the Dash 8 400. The company is also selling its component technology, including electric motors and fuel cell power generation systems, to other electric aviation innovators. Val Miftakhov, Founder and CEO, ZeroAvia said: "We have closed an exceptionally strong financing round to help us deliver the clean future of flight for the entirety of aviation. 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." Robin Tayal, Investment Director at the Bank said: "Decarbonising aviation is one of the key environmental challenges we face and it is fundamental to the net zero transition. 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." ZeroAvia is working to deliver the clean future of flight for the entirety of aviation by enabling electric propulsion. With a primary focus on developing hydrogen-electric (fuel cell-powered) engines, ZeroAvia has submitted its first powertrain for up to 20 seat planes for certification and is working on a larger powertrain for 40–80 seat aircraft. Founded in California and now with thriving teams in Everett, WA and the United Kingdom, ZeroAvia has secured experimental certificates to test its engines in three separate testbed aircraft with the FAA and CAA and passed significant flight test milestones. The company has signed a number of key engineering partnerships with major aircraft OEMs and has nearly 2,000 pre-orders for engines and its component systems from a number of the major global airlines, operators, and OEMs with future revenue potential over $10bn.

ZeroAvia Completes $150m Series C Financing

ZeroAvia has completed a $150m Series C financing round, with key investments from the Scottish National Investment Bank, American Airlines, International Airlines Group (IAG), ITOCHU Corporation, and co-led by Airbus, Barclays Sustainable Impact Capital, and NEOM Investment Fund. The funding supports ZeroAvia's hydrogen-electric engine development for sustainable aviation, including a planned manufacturing facility in Scotland. The company has achieved flight test milestones and secured pre-orders from major airlines.