Universal Hydrogen has raised an additional $62 million to support its plans to convert regional airliners to hydrogen propulsion, bring its total fundraising to date to $85 million. The company’s latest group of backers include aircraft engine maker GE Aviation, as well as venture capital groups such as Mitsubishi HC Capital, Tencent, Stratos, Waltzing Matilda Aviation, Fourth Realm, Hawktail, Time Ventures, Jeff Wilke, Spencer Rascoff’s 75, and Sunny Ventures.
In an October 14 announcement, Universal Hydrogen said the new capital will allow it to press ahead with planned flight testing of its hydrogen fuel cell powertrain on a 40-plus seat ATR 42 regional airliner at Moses Lake in Washington state. The green hydrogen for the flight will be supplied using the company’s modular fuel capsules that are installed in a compartment in the rear of the fuselage.
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