Published by Teresa on July 24, 2024
Research into the financing ecosystem to support zero emission flight
Shared commitment to achieving aviation’s decarbonisation goals
July 24, 2024 07:00 AM Eastern Daylight Time
FARNBOROUGH, England--(BUSINESS WIRE)--Avolon, a leading global aviation finance company, has partnered with Airbus to support the development of hydrogen-powered commercial aircraft through Airbus’ ZEROe Project.
>> In Other News: Aurora Hydrogen Receives Over $4 Million from Natural Resources Canada, NGIF Accelerator for Development of Low-Carbon Hydrogen
Announced at the Farnborough Airshow today, Airbus and Avolon will investigate how future hydrogen-powered aircraft could be financed and commercialised, and how they might be supported by the leasing business model. Airbus revealed its ZEROe hydrogen-powered aircraft ambition in 2020, focused on pioneering the technology required for hydrogen flight and developing the ecosystem to support it.
Avolon shares Airbus’ commitment to achieving the aviation sector’s decarbonisation goals, and has a track record of being a thought leader on future technologies through its investment in eVTOL developer Vertical Aerospace, and research into Sustainable Aviation Fuel (SAF) production. Avolon is also committed to having a fleet that comprises 75% new-technology lower emissions aircraft by the end of 2025.
Paul Geaney, President and Chief Commercial Officer, Avolon, commented: “Joining the ZEROe Project is another step in Avolon’s sustainability journey, and we look forward to building on our long-standing partnership with Airbus to consider how the next generation of aircraft will be financed and commercialised. It will take a wide ecosystem of contributors to meet the challenges of hydrogen-powered commercial flight, and Airbus is playing a crucial role in bringing partners together. While we continue to focus on supporting our customers in modernising their fleets with lower emissions aircraft, it is also vital we look beyond that at what can further drive our industry’s decarbonisation.”
Glenn Llewellyn, Vice-President ZEROe Project, Airbus, commented: “There is real value in bringing together industry leaders to help solve the challenges facing aviation. We know we can’t solve decarbonisation alone and welcome Avolon’s expertise and worldwide leadership in the aircraft leasing business. Working together to consider how the transition can be commercialised and financed for airline customers is crucial to success.”
Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative team approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 142 airlines in 63 countries, Avolon has an owned, managed, and committed fleet of 1,029 aircraft, as of 30 June 2024. Visit www.avolon.aero.
Airbus' ambition is to bring to market the world’s first hydrogen-powered commercial aircraft by 2035. To get there, our ZEROe project is exploring a variety of configurations and technologies, as well as preparing the ecosystem that will produce and supply the hydrogen. Visit www.airbus.com/en/innovation/low-carbon-aviation/hydrogen/zeroe.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🪨 Inside Blm's 650,000-Acre Bet on Wyoming Carbon Storage 🏭 California Advances Carbon Capture and Removal Regulations Under SB 905 ⚡ Why a Japanese Power Giant Is Betting on Den...
Inside This Issue ⚖️ Colorado Takes Over Class VI Permits: What Changes for CCS? 🏭 Hebei Shoulang Facility Using LanzaTech Technology Achieves World’s First ISCC EU RCF Certification for Ethanol P...
Inside This Issue ⚛️ Aternium Completes FEED Studies for US Hydrogen, Heavy Water Project 🐄 Google, McKinsey Strike Brazil Carbon Removal Deal With Silvopasture Project 🔧 Cummins Selects Stargate ...
Citi Closes $72 Million Carbon Removal-Linked Note to Support Applied Carbon Biochar Project
HIGHLIGHTS Citi structured an innovative $72 million carbon removal-linked note to provide upfront capital for Applied Carbon's biochar project, marking a first-of-its-kind "outcome bond" for ver...
New platform opens access to the same rigorous project evaluations trusted by the world's leading carbon removal procurement programs Today, Relae (formerly Carbon Direct) launched The Diligence C...
Inside BLM's 650,000-Acre Bet on Wyoming Carbon Storage
The Bureau of Land Management has offered right-of-way grants covering about 649,438 acres of federal pore space in southwest Wyoming. The September 21, 2026 offers went to Moxa Carbon Storage LLC ...
NEW YORK, BUSINESS WIRE, SWITCH Maritime (Switch), a leading developer of zero-emission vessels, secured a Design Basis Agreement (DBA) with the United States Coast Guard (USCG) for the SWITCH-150,...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.