Airship developer Hybrid Air Vehicles (HAV) has raised nearly $2 million in a new round of fundraising linked to a UK government grant. The British company’s prospects have been buoyed by the increased focus on environmentally-friendly air transport, but HAV still needs to find more than $180 million in order to fly its first production hybrid airship in early 2024.
About $152 million was raised previously, including a mix of shareholder investment, earlier UK government and European Union grants, debt, and the original $80 million spent by the U.S. Army on the aborted Long-Endurance Multi-Intelligence Vehicle (LEMV) program. The single LEMV was subsequently moved from the U.S. to the UK, where it became the Airlander 10 prototype. The Airlander features outer hull fabric with helium providing lift, composite structure, and four diesel engines.
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