Universal Hydrogen Announces $20.5M In Series A Funding To Build And Test Full-Scale Hardware For Hydrogen Commercial Aircraft
Universal Hydrogen Announces $20.5M In Series A Funding To Build And Test Full-Scale Hardware For Hydrogen Commercial Aircraft
04/22/21, 4:11 PM
Location
los angelesMoney raised
$20.5 million
Round Type
series a
Universal Hydrogen, the company fueling carbon-free flight, today announced its $20.5M Series A financing round led by prominent Silicon Valley venture fund, Playground Global, with the investor syndicate comprising Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape. Founded in 2020 by aviation industry veterans Paul Eremenko, John-Paul Clarke, Jason Chua, and Jon Gordon, Universal Hydrogen stitches together the end-to-end hydrogen value chain for aviation, both for hydrogen fuel and hydrogen-powered airplanes.
Company Info
Location
los angeles, california, united states
Additional Info
Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen is also developing a conversion kit to retrofit existing regional airplanes with a hydrogen-electric powertrain compatible with its modular capsule technology.