Hydrogen Startup ZeroAvia Targets $150 Million Funding Round (1)

Clean-aviation startup ZeroAvia is working to raise about $150 million in a new funding round as it progresses toward commercial introduction of its first hydrogen fuel-cell engine.

The company is in discussions with strategic and financial investors for the Series D funding, Chief Executive Officer Val Miftakhov said in an interview. He aims to identify a lead investor on the round, which has been under way for about six weeks, by the Paris Air Show in mid-June.

“This round will take us all the way to the end of ’28,” Miftakhov said. The company is likely to need further incremental ...