The Scottish National Investment Bank has joined a Series C financing round in ZeroAvia, extending the total value to $150m.
The bank submitted £20m ($26m) to the funding round, building on previous investments from American Airlines, International Airlines Group (IAG) and ITOCHU Corporation.
H2 View understands this is the Scottish bank’s first investment into hydrogen-based technology and the sustainable aviation sector.
“Decarbonising aviation is one of the key environmental challenges we face, and it is fundamental to the Net Zero transition,” explained Robin Tayal, Investment Director at the Scottish National Investment Bank.
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