JetBlue's venture capital subsidy, JetBlue Technology Ventures (JTV) , is investing (as part of its $20.5M Series A funding round) in a Los Angeles-based startup working on the technology to enable hydrogen fuel cell-fueled aircraft.
JTV’s primary goal is to better position JetBlue with startup-led innovation set to disrupt the travel industry, ultimately helping JetBlue chart a path toward net zero emissions.
The company, Universal Hydrogen, is building a distribution network to store and transport hydrogen fuel for the aviation industry as well as conversion kits that could retrofit existing small regional aircraft to be powered by hydrogen fuel cells.
The financing allows bolster its burgeoning commercial activities while the compan's first commercial flights are planned no later than 2025.
The company is developing conversion kits to retrofit existing 40-60 passenger regional airplanes with a hydrogen fuel cell powertrain.
"Our investment in Universal Hydrogen is highly aligned with JetBlue’s environmental objectives, and this partnership allows the airline a seat at the table in the fast-developing hydrogen for aviation sector and provides valuable insight into the options, progress, and viability of hydrogen to help decarbonize aircraft operations," said Jim Lockheed, Investment Principal at JTV.
"We see the near-term decarbonization of regional aviation as a first step and catalyst, setting the whole industry on a path to meeting Paris Agreement emissions targets," Universal Hydrogen cofounder and CEO Paul Eremenko said in a statement. "Hydrogen is today the only viable fuel for getting to true zero emissions in commercial aviation, and our goal is to de-risk the decision for Airbus, Boeing, and [Commercial Aircraft Corp. of China] to make their next new airplane in the 2030s a hydrogen-powered one."
Taking it as a viable option, European Aircraft maker Airbus is also working on its own concepts for hydrogen-fueled aircraft , with a target of being ready for commercial service by 2035.
Picture : Tomás Del Coro , Universal Hydrogen
