American, IAG Invest in Hydrogen-Electric Engine Developer | Business Travel News
Following investments in December by United Airlines and Alaska Airlines, American Airlines also has made an investment in the hydrogen-electric engine developer ZeroAvia, the companies announced Wednesday. Neither company disclosed the investment amount.
In addition, the deal gives American the opportunity to order up to 100 engines from ZeroAvia’s hydrogen-electric powertrain development program. The engines are intended to power regional jet aircraft with zero emissions, according to the companies.
The announcement comes about two weeks after ZeroAvia secured an additional $30 million in funding from both new and returning investors, including Barclays and International Airlines Group, the parent company of British Airways, Aer Lingus and Iberia. The funding announced July 20 brought the company’s Series B round to $68 million, including the $35 million raised in December from United and Alaska, according to ZeroAvia. In December, the company’s total funding to date had been $115 million.
United, Alaska Take Stake in Hydrogen-Electric Engine Developer
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