Aviation H2 has launched a capital raise via the online platform VCEX to fund the construction of its first modification prototype.
- The feasibility study is complete, which provides a clear pathway to building Australia’s first hydrogen-powered plane.
- A strategic partnership with FalconAir gives Aviation H2 access to their Bankstown hangar, facilities and operating licences so they can begin building Australia’s first hydrogen-powered plane.
- FalconAir will help Aviation H2 acquire test engines and aircraft that will be used to deliver the project.
- The approach will modify existing aircraft to be powered by green hydrogen, meaning uptake will be quick as the assets already exist.
Once the test flight is successful in the middle of 2023, Aviation H2 will have a patentable method for modifying aircraft so they operate on carbon-free fuel.
Following this, they will seek to certify and commercialise this product via a planned public listing on a major exchange in Q4 of 2023.