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ZeroAvia Completes $150m Series C Financing
ZeroAvia announced that it has extended its Series C financing to a total of $150m, with a £20m investment from Scottish National Investment Bank (“the Bank”) coming alongside recent investments from American Airlines, International Airlines Group (IAG) and ITOCHU Corporation.
The round was co-led by Airbus, Barclays Sustainable Impact Capital and NEOM Investment Fund (NIF), with UK Infrastructure Bank joining as a cornerstone-level investor, and with strong support from existing shareholders including Breakthrough Energy Ventures, Horizons Ventures, Ecosystem Integrity Fund, Summa Equity, Alaska Airlines, Amazon’s Climate Pledge Fund and AP Ventures.
ZeroAvia has already extensively flight tested a prototype of its first ZA600-engine aboard a Dornier 228 aircraft at its UK base and the application for certification is underway with the CAA. The company has also performed advanced ground tests in the US and UK for the key building block technologies for the ZA2000 system, including cryogenic tanks for LH2 and proprietary high-temperature PEM fuel cell and electric propulsion systems. ZA2000 will support up to 80 seat regional turboprop aircraft such as the ATR72 and the Dash 8 400. The company is also selling its component technology, including electric motors and fuel cell power generation systems, to other electric aviation innovators.
Why Airlines Like American Are Scrambling To Make Engines Last Longer
Engine-uity reigns at American’s Tulsa maintenance base
Located in the geographic center of the mainland United States, American’s Tech Ops – Tulsa maintenance base has been the backbone of American’s maintenance, repair and overhaul work since 1946. It’s the world’s largest commercial aircraft maintenance base, employing nearly 5,000 team members, including more than 3,200 licensed aviation maintenance technicians and overhaul support mechanics. Each year, around 400 of the airline’s aircraft visit the base, where the team works around the clock to maintain everything from seats to avionics and complete regularly scheduled maintenance work.
Tucked away in a non-descript building in the middle of the 246-acre base is American’s engine shop, known as American Airlines Engine Repair Overhaul or AAERO. The AAERO team is the best in the business when it comes to overhauling an engine, which means taking it apart completely and rebuilding it. Engines typically require an overhaul after 20,000 flight hours or 7,000 takeoffs and landings. This year, American’s engine shop is on track to increase engine overhaul throughput by nearly 60% over last year, or 150 engines annually, outperforming industry peers by a wide margin. That means fewer aircraft out of service and an even more reliable operation.
American is using machine learning to keep its hubs moving this holiday season
American developed Smart Gating technology so our aircraft spend less time waiting on the tarmac and customers have more time to make their connections. The tool was developed by American’s Information Technology and Operations teams to reduce gate conflicts, ease ramp congestion and shorten taxi times. It’s one of many ways we are using innovative technology to drive a more reliable and efficient operation.