[TechUkraine news] Cofounded by Ukrainian Universal Hydrogen raised $62 MLN

Cofounded by Ukrainian Pavlo Eremenko Universal Hydrogen, the company leading the fight to decarbonize aviation through the adoption of hydrogen as a universal fuel, raised $62 MLN by Mitsubishi Motors HC Capital, Tencent, Stratos, GE Aviation and others.
  • Oversubscribed round completed less than six months after Series A, brings total raised to $85 million
  • The company anticipates entry into commercial service in 2025 with a certified retrofit conversion kit for existing ATR 72 and De Havilland Canada Dash-8 regional airliners and a green hydrogen fuel services offering. Together, these will provide regional operators with unit economics that are equivalent or better than those of conventional jet fuel-powered variants of the aircraft.
  • Universal Hydrogen has secured a substantial commercial order pipeline, including previously-announced LOIs from Icelandair, Air Nostrum, Ravn Alaska, and ASL Aviation Holdings.
Headquartered in Los Angeles, California, with an engineering center in Toulouse, France, and a flight test center in Moses Lake, Washington, Universal Hydrogen is rapidly growing its team in pursuit of its ambitious, world-changing goal.