Universal Hydrogen Scores $62M For Hydrogen Flight Sytsems
Los Angeles-based Universal Hydrogen Co., and aerospace startup which is looking to use hydrogen as fuel for aircraft, has raised $62M in a funding round, the company said this morning. The funding included Mitsubishi HC Capital, Tencent, Stratos, GE Aviation, Waltzing Matilda Aviation, Fourth Realm, Hawktail, Marc Benioff’s TIME Ventures, Jeff Wilke, and Spencer Rascoff’s 75 and Sunny Ventures. According to the company, it has developed a hydrogen module which is designed to be used to power hydrogen-based aircraft. The company said it has raised $85M in funding so far. The company claims its technology will enter commercial service in 2025, with a certified retrofit conversion kit for ATR 72 and De Havilland Canada Dash-8 regional airliners. The company claims it has LOIs (letter of intent) from Icelandair, Air Nostrum, Ravn Alaska, and ASL Aviation Holdings.