Sydney Start-up Secures $30 Million for Hydrogen-Powered Plane Development
Key Ideas
- AMSL Aero, a Sydney-based start-up, has initiated a $30 million-plus equity round to support the development of a hydrogen-powered long-range plane.
- The funding for this project comes from superannuation funds like Hostplus and TelstraSuper, as well as investors such as IP Group and Trevor St Baker.
- The company has enlisted Allunga Advisory's Matt Rogers to lead its Series B equity round, targeting venture capital and growth equity investors globally.
- The initiative marks a significant step towards advancing sustainable aviation technology and reducing carbon emissions in the industry.
A Sydney start-up, AMSL Aero, is making strides in the aviation industry by aiming to introduce the world's first hydrogen-powered long-range plane. To fuel this ambitious project, the company has kickstarted a funding round of over $30 million, with support from prominent investors including superannuation funds like Hostplus and TelstraSuper, as well as ESG-focused individuals like Trevor St Baker and venture capital firm IP Group. Allunga Advisory's Matt Rogers has been appointed to lead the Series B equity round, with a focus on attracting both local and international investors. This development signifies a major advancement in sustainable aviation technology, highlighting a commitment to reducing carbon emissions within the aviation sector. The project's progress reflects a positive outlook on the future of hydrogen-powered transportation and its potential to revolutionize the industry.