Universal Hydrogen is accelerating development of hydrogen propulsion for regional aircraft after securing $20.5m in funding – and the US firm is targeting 2025 for the first commercial flights.
On a mission to make hydrogen-powered commercial flight a near-term reality, Universal Hydrogen said on Thursday (22nd April) it had raised $20.5m in a new funding round led by Playground Global, with the investor syndicate comprising of Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation and Future Shape.
The Californian company will use the funds to build and test full-scale hardware for hydrogen commercial aircraft with the backing set to bolster the company’s burgeoning commercial activities.
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