Sustainable aviation startup ZeroAvia on Thursday announced that it completed its latest round of funding, totaling $150 million. The company has raised more than $250 million from investors to date.
ZeroAvia is developing technologies for hydrogen-electric airplanes, and has deals with aircraft manufacturers and more than 2,000 orders for engines and components from airlines, cargo operators and others. The company last year celebrated a partnership with Alaska Airlines to retrofit a retired plane with its propulsion system.
ZeroAvia is currently seeking certification for a powertrain built for aircraft of up to 20 seats, and is also developing engines and components that will propel planes of up to 80 seats.
The startup is based in California and the United Kingdom, and has significant operations in Washington state, including R&D and a new 136,000-square-foot manufacturing facility at Everett’s Paine Field. The company is looking to build additional manufacturing capacity in the UK.
Aviation is one of the more difficult industries to shift off of fossil fuels. It contributes 2.5% of the greenhouse gases emitted annually, but that percentage is expected to increase as other sectors go low-carbon and air travel increases. In addition to hydrogen and battery-powered flight, many in the field are counting on sustainable aviation fuels as a climate friendly solution.
ZeroAvia announced an earlier stage of the funding round one year ago that included investors from the Pacific Northwest: Bill Gates’ Breakthrough Energy Ventures, Alaska Airlines and Amazon Climate Pledge Fund.
The Series C round was co-led by Airbus, Barclays Sustainable Impact Capital and NEOM Investment Fund, with UK Infrastructure Bank joining as a cornerstone-level investor. Additional new investors are Scottish National Investment Bank, American Airlines, International Airlines Group and ITOCHU Corporation. Other participants include earlier investors Horizons Ventures, Ecosystem Integrity Fund, Summa Equity and AP Ventures.
ZeroAvia previously raised a $72 million Series B round and a $56 million Series A round.