American, IAG Invest in Hydrogen-Electric Engine Developer

Following investments in December by United Airlines and Alaska Airlines, American Airways additionally has made an funding within the hydrogen-electric engine developer ZeroAvia, the businesses introduced Wednesday. Neither firm disclosed the funding quantity.

As well as, the deal provides American the chance to order as much as 100 engines from ZeroAvia’s hydrogen-electric powertrain growth program. The engines are supposed to energy regional jet plane with zero emissions, in response to the businesses. 

The announcement comes about two weeks after ZeroAvia secured an extra $30 million in funding from each new and returning buyers, together with Barclays and Worldwide Airways Group, the guardian firm of British Airways, Aer Lingus and Iberia. The funding introduced July 20 introduced the corporate’s Sequence B spherical to $68 million, together with the $35 million raised in December from United and Alaska, in response to ZeroAvia. In December, the corporate’s complete funding so far had been $115 million.

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