ZeroAvia, the leader in developing zero-emission solutions for commercial aviation, announced that it has signed an agreement with MONTE Aircraft Leasing the pioneering zero-emissions regional turboprop aircraft lessor. As part of the agreement the partners will offer aircraft leasing and financing solutions that enable operators to run zero-emission flights.
Under the deal, MONTE will purchase up to 100 ZA600 powertrains to be installed on existing and new Cessna Caravan, DHC-6 Twin Otter, Dornier 228 and HAL-228 aircraft. MONTE and ZeroAvia aim to retrofit the aircraft for clients starting in 2024 and will provide and finance maintenance and hydrogen availability services to support these operations. The deal will make ZeroAvia MONTE's exclusive hydrogen-electric powertrain provider for these aircraft.
"We are delighted to have partnered with ZeroAvia who are the market leader in the hydrogen-electric space. Our partnership is an important step in our journey towards becoming one of the world's first zero-emission aircraft lessors and we look forward to working with the ZeroAvia team on offering financing solutions for turboprop operators."
Timothy Eyre, Investment Director, MONTE
James Peck, VP Business Development, ZeroAvia, said: "We're pleased to announce our partnership with MONTE. Together, ZeroAvia and MONTE will provide a compelling proposition to operators of 5-20 seat aircraft. This partnership will offer flexibility to operators to allow them to launch zero-emissions flights on their networks, as well as extending the lifespan of hundreds of in-service airframes."
ZeroAvia's hydrogen-electric powertrain brings state-of-the-art fuel cell and electric motor technology together to create an unparalleled aircraft engine that will deliver improved operating economics without harming the planet. The ZA600 powertrain - ZeroAvia's market entry, 600kW system, designed to support 5-20 seat airframes by 2024 - uses gaseous hydrogen stored onboard in lightweight tanks. The hydrogen feeds fuel cell stacks that generate power by converting hydrogen into electricity.
ZeroAvia will soon flight test the ZA600 powertrain in a retrofitted Dornier 228. In the initial testing configuration, the aircraft testbed will fly with one hydrogen-electric powertrain on one wing, while keeping the stock engine on the other wing to ensure safe testing conditions. The testing program will then sequentially move to full hydrogen-electric flight, ultimately working towards a certifiable hydrogen-electric powertrain as the sole propulsion source for the categories of airframes included in this deal with MONTE.
ZeroAvia is a leader in zero-emission aviation, focused on hydrogen-electric aviation solutions to address a variety of markets, initially targeting a 300-mile range in 5-20 seat aircraft by 2024, and up to 1000-mile range in 40-80 seat aircraft by 2026. Based in the UK and USA, ZeroAvia has already secured experimental certificates for its two-prototype aircraft from the CAA and FAA, passed significant flight test milestones, secured a number of key partnerships with major aircraft OEMs and major global airlines, and is on track for commercial operations in 2024. The company's expanding UK operations are supported by grants from UK's Aerospace Technology Institute and Innovate UK, and ZeroAvia is part of the UK Government's Jet Zero Council.
MONTE is a pioneer in financing zero-emission technologies in the regional aviation market. MONTE is exclusively focused on supporting the aviation industry's transition to net zero carbon emissions by providing financing and leasing solutions for zero-emission technologies to regional aircraft operators. MONTE has a goal of becoming the first carbon neutral aircraft leasing company in the world by 2027.