Delaware, USA, Kemble, UK & Hollister, USA, November 9, 2021 – ZeroAvia, a leader in zero-emission passenger aircraft, today announced an Aircraft and Infrastructure financing collaboration with Rose Cay GP, LLP (“Rose Cay”), a US-based real asset special situations investment platform.
“Rose Cay is committed to the Energy Transition and development of a sustainable, zero-emission airline industry. Rose Cay is uniquely poised to leverage both our experience in infrastructure investments as well as aircraft financing to enable ZeroAvia to deliver its hydrogen-electric technology. By converting existing aircraft, we can minimize lifecycle environmental impacts, while concurrently accelerating zero-emission hydrogen aircraft entry into service. We are delighted to work with ZeroAvia for the long term, as a leader in the development of zero-emission aircraft.”
Rose Cay and ZeroAvia plan to bring to market zero-emission aircraft to operators worldwide. Rose Cay would provide the capital to fund aircraft acquisition, ZeroAvia hydrogen-electric powertrain systems, and conversion costs for lease customers. Together with ZeroAvia, Rose Cay also intends to develop airport infrastructure projects, with committed offtake agreements, to ensure hydrogen availability.
“Working with Rose Cay will help us deliver zero-emission aircraft to market in the shortest time frame. By acquiring, converting and leasing, stored available aircraft we can ensure operators can take advantage of our zero-emission powertrain technology without having to wait for new aircraft to be built. In addition, having Rose Cay supporting infrastructure projects ensures we can deliver a robust in-service support network”
Recently, ZeroAvia also successfully ground-tested its 600kW powertrain capable of flying airframes 10-20 seats in size 500 miles, in a 19-seat aircraft at Cotswold Airport in the UK, with flight testing planned over the coming months. Concurrently, ZeroAvia is also moving to full-size prototype manufacturing of its ZA2000 – an engine family capable of producing between 2,000 and 5,000 kilowatts of power to support up to 90 seat aircraft over 500 nautical miles – for flight testing demonstrations starting in 2023.
HyFlyer II is part-funded by the ATI Programme, which is supported by the UK’s Aerospace Technology Institute, Innovate UK and the Department for Business, Energy and Industrial Strategy.
In late October 2021, ZeroAvia and Rotterdam The Hague Airport (RTHA) announced a partnership with the aim of establishing the world’s first hydrogen-electric international passenger route, using 19-seat aircraft such as HAL’s 228.
ZeroAvia is a leader in zero-emission aviation, focused on hydrogen-electric aviation as the initially targeting a 300-mile range in 9–19 seat aircraft by 2025, and up to 700-mile range in 40–80 seat aircraft by 2027. Based in the US and the UK, ZeroAvia has already secured experimental certificates for its three prototype aircraft from the CAA and FAA, passed significant flight test milestones, secured a number of key partnerships with major aircraft OEMs, secured pre-orders for nearly 2,000 engines from a number of the major global airlines, with future revenue potential over $10b. The company is on track for commercial operations in 2025. ZeroAvia is part of the UK Government’s Jet Zero Council. For more, please visit ZeroAvia.com, follow @ZeroAvia on Twitter, Instagram, and LinkedIn.
Press Contact
ZeroAvia Press Team
press@zeroavia.com
Rose Cay GP, LLC (“Rose Cay”) is a real asset special situations investment platform. Rose Cay targets opportunities across forward looking sectors that are poised for growth and offers a stable credit profile. Investments seek to leverage best-in-class ESG compliance, global trends, technology, and core assets to deliver long-term value.
This press release does not constitute an offer to sell or the solicitation of an offer to purchase any securities.
