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Universal Hydrogen to start testing fuel cells in passenger jet

By October 13, 2021November 27th, 2021No Comments

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Universal Hydrogen to start testing fuel cells in passenger jet

Oct 13, 2021 • Financial Times

Los Angeles start-up quintuples valuation with investors including Tencent and GE Aviation joining.

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https://www.ft.com/content/1741c39d-b83a-440f-87f9-4340c110fda1

Universal Hydrogen, a Los Angeles start-up that wants to convert passenger planes to fly on hydrogen, said it will start testing its fuel cells with a 40-seat jet next year after it raised fresh funding from investors including Tencent and GE Aviation.

The company has attracted $62m in new investment, on top of the $22m it raised in April, with its valuation climbing from $55m to $262m. Other investors include the venture arms of Toyota, JetBlue and Fortescue.

Universal Hydrogen has already signed deals with at least five regional airlines to buy conversion kits to replace their current engines with a hydrogen fuel cell and electric motor and said the planes should be operational by 2025. It will then sell them hydrogen fuel cells on subscription. The airlines include Icelandair, Ravn Alaska, Spain’s Air Nostrum and Ireland’s ASL Aviation.

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