Itochu Invests in U.S. Hydrogen Aircraft Engine Maker ZeroAvia
Published by Todd Bush on July 10, 2024
TOKYO -- Japanese trading group Itochu said Tuesday that it has invested in ZeroAvia, a California-based manufacturer of hydrogen-electric engines for aircraft.
Itochu will serve as ZeroAvia's distributor in Asia under the deal. The two sides also plan joint development of infrastructure for supplying hydrogen fuel at airports.
The announcement did not disclose the amount of the investment.
Itochu, making its first investment in a developer of hydrogen engines for aircraft, will tap its network in the aviation industry. The Itochu group includes Japan Aerospace, which is involved in aircraft sales, and Jamco, a manufacturer of materials for aircraft interiors.
>> In Other News: Plug Completes 13 Hydrogen Refueling Station Deployments Over Last Two Years in Europe
Fuel cells generate electricity through chemical reactions between hydrogen and oxygen. ZeroAvia conducted a successful test flight with a 19-seat aircraft in January 2023.
ZeroAvia aims to obtain certification for engines used in aircraft serving 40-80 passengers by 2027, and later for 200-seat aircraft. The company has received preorders from major airlines for almost 2,000 engines.
ZeroAvia is collaborating with aircraft manufacturers such as Airbus, as well as with energy companies and airports.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
CF Industries Breaks Ground on $3.7B Blue Point
Inside This Issue 🏗️ Construction Begins on Blue Point Project 🧪 Commencement of FEED for the Live Oak Project for e-NG Production in Nebraska 🍁 Mercer International Secures C$20 Million Canadian ...
-
Freepoint Commits $450M to Emvolon's Modular Fuel Play
Inside This Issue ⛽ Emvolon and Freepoint Commodities Execute Multi-Year Definitive Agreements to Scale High-Value Liquid Fuels 🧪 Ammobia and Lummus Technology to Commercialize Ammonia for Low-Car...
-
Project Tundra Gets $205M in State Loans and a New Risk-Sharing Partner
Inside This Issue ⚡ Minnkota and Reliant Split Risk on Project Tundra CCS 🛢️ White House Pushes for More Refinery Waivers to Ease Pump Prices 🤝 Aker Solutions to Accelerate Carbon Capture and Remo...
Company Announcements
-
City of Oulu and ABO Energy Have Signed a Cooperation Agreement Regarding a Hydrogen Plant
The city of Oulu and ABO Energy Suomi Oy have signed a cooperation agreement on the hydrogen project in the Pyyryväinen green transition zone.01.09.2026 The cooperation agreement is a continuation...
-
Tuesday, 01 September 2026 07:45 AM Topic: Company Update Commercial Deliveries Underway: New Rise Reno is actively shipping orders to paying customers, currently at approximately 55,000 gallo...
-
Climate finance platform Commons has entered a new partnership with InPlanet to expand access to enhanced rock weathering (ERW) carbon removal credits, adding InPlanet's tropical ERW projects in Br...
-
Vycarb Reaches Milestone in Storing Low-Purity CO2 as Seawater Bicarbonate
Vycarb, a Brooklyn-based carbon capture and storage company, has reached a new milestone in ocean-based CCS, successfully storing low-purity CO2 directly in seawater without the costly purification...