ZeroAvia raises $70 million in Series B funding

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ZeroAvia raises $70 million in Series B funding

An American startup with Russian roots, ZeroAvia, a company that develops hydrogen engines for passenger aircraft, has announced the latest round of funding - a $70 million Series B round! ZeroAvia is at the forefront of zero-emission aviation. On July 20th, ZeroAvia receives $30 million in additional funding from IAG, Barclays, NEOM and AENU. The investment went up to $68 million after the increase in December, including United Airlines and Alaska Airlines. There will be a round of new investments from major airlines that will further advance ZeroAvia's 2 -- 5 MW hydrogen-electric powertrain solutions, which aims to equip 40-80 seat aircraft with zero emissions engines by 2026. The startup intends to use some of the funding to build airport infrastructure that supports live demonstrations of its airport hydrogen refueling HARE ecosystem in preparation for passenger and cargo routes in the next few years.