A start-up working to make hydrogen-powered aeroplanes raised $24.3 million from investors including funds backed by Bill Gates and Hong Kong billionaire Li Ka-shing.
ZeroAvia will use the cash to start scaling up its hydrogen-powered propulsion system to work with larger planes that could carry at least 50 passengers. Its latest and biggest model currently has around 19 seats.
Hydrogen is seen as a key fuel to cut aviation emissions. While batteries work well for cars and trucks, they are too heavy for the energy-intensive and weight-sensitive airline industry. Hydrogen only emits water when it is burned and if the gas is produced from renewable energy, its use has little polluting impact on the atmosphere.
The funding for ZeroAvia follows a round at the end of last year that drew nearly $38m, including support from the UK government, to advance the company’s technology in a smaller aircraft.
“We a have a road map that goes into larger and larger airframes,” ZeroAvia chief executive Val Miftakhov said in an interview. “We thought we’d go for the next size in a year or two, but there’s been so much interest, we decided to accelerate.”
This latest round of funding came from Li Ka-shing’s Horizons Ventures, International Consolidated Airlines Group’s British Airways, the Gates-backed Breakthrough Energy Ventures, Ecosystem Integrity Fund, Royal Dutch Shell, Summa Equity, and British-based consultant SYSTEMIQ.
By the end of 2021, Mr Miftakhov expects ZeroAvia to raise at least $100m more for designing and developing the larger hydrogen-powered plane and move it closer to commercialisation.
The total cost of the programme to develop the larger aircraft will be about $250m, he said. Some of the additional funds will likely come from government grants.
The company is currently working toward running its planes entirely on hydrogen rather than using its current hybrid of battery-power and hydrogen. It also plans to switch from condensed gas hydrogen to liquid hydrogen, because it’s more efficient to store.
UAE currency: the story behind the money in your pockets
'Joker'
Directed by: Todd Phillips
Starring: Joaquin Phoenix
Rating: Five out of five stars
Tailors and retailers miss out on back-to-school rush
Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”
A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.
“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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