00:00 ET ZeroAvia Completes Financing Round

, /PRNewswire/ -- ZeroAvia today announced that it has completed a further round of financing, led by Barclays Climate Ventures, Breakthrough Energy Ventures, Ecosystem Integrity Fund, Horizons Ventures, Summa Equity, and AP Ventures, with participation from the National Wealth Fund and the Scottish National Investment Bank. With additional investment secured, ZeroAvia has extended its cash runway for the next two years and will continue to fully industrialize its hydrogen power and propulsion technology for the aviation and defense markets. The company is already supplying its SuperStack Flex modular fuel cell power generation system to the defense sector, and there is increasing interest in the systems for unmanned aerial vehicles. The dual-use potential is strong: ZeroAvia is also in active customer discussions with eVTOL and fixed-wing commercial players in relation to deploying the compact, lightweight, flexible systems. The SuperStack Flex can enable both electric propulsion and enhanced on-board electrical power generation with greater power density than battery systems. It unlocks all of the benefits of electrical operation – lower thermal and noise signatures, reduced maintenance costs, enhanced reliability and zero-emissions – and with significantly enhanced endurance. With Design Organisation Approval granted by the UK CAA in November, ZeroAvia is well positioned to deliver the first fuel cell systems for aviation with regulatory approvals. As well as a standalone power generation system with a wide variety of defense and civil applications, the SuperStack Flex is a core module of ZeroAvia's first planned full hydrogen-electric powertrain, ZA600, designed for 10-20 seat commercial aircraft. With a prototype extensively flight tested, hundreds of engine orders in place with airline customers (including a launch customer), and funding in place to support the entry-in-service of 15 aircraft in Norway, ZeroAvia's focus is now on pushing towards its first certification to support these opportunities. Val Miftakhov, Founder and CEO, ZeroAvia, said: "The support shown in this investment to power the next phase for the company is a great vote of confidence in the company's technology and roadmap. With this latest financing we are able to progress at pace on the most immediate market opportunities – such as the SuperStack Flex – which will enable us to derisk later stages of our roadmap." For more information on the SuperStack Flex, download the brochure or get in touch with the team. About ZeroAviaZeroAvia is leading the transition to a clean future of flight by developing hydrogen-electric propulsion technologies for aviation and defense to unlock lower costs and emissions, lower detectability, cleaner air, reduced noise, energy independence and increased connectivity. The company is developing hydrogen-electric (fuel cell-powered) engines for existing commercial aircraft segments and also supplying hydrogen and electric propulsion component technologies for novel electric air transport applications (including battery, hybrid and fuel cell powered electric fixed-wing aircraft, novel eVTOL designs, rotorcraft and Unmanned Aerial Vehicles). ZeroAvia has submitted its first full engine for up to 20-seat planes for certification and is working on a larger powertrain for 40–80-seat aircraft, with significant flight test and regulatory milestones achieved with the U.S. FAA and UK CAA. For more, please visit ZeroAvia.com, follow @ZeroAvia on Facebook, Twitter/X, Instagram, LinkedIn, and YouTube. SOURCE ZeroAvia