Aviation H2 partners with FalconAir, launches capital raise
Aviation H2 has partnered with charter operator, FalconAir and launched a capital raise to fund the purchase of test engines and the construction of a modification prototype.
The agreement with Sydney-based FalconAir will give Aviation H2 access to the charter firm’s Bankstown hangar, facilities and operating licences. FalconAir will also help Aviation H2 acquire test engines, aircraft and provide specialist and licensed aircraft maintenance engineering.
Aviation H2 said it is on track to be flying by the middle of 2023.
Aviation H2 director, Dr Helmut Mayer said: “This marks a monumental step towards developing a technology that will lead to the decarbonisation of the aviation industry, which contributes 2.5% to global emissions. We now have a hangar, options for purchasing an aircraft and a clear plan for how we want to build it.”
Mayer continued: “In the next 12 months, we intend to convert a jet engine for testing, then modify a Falcon 50 so it runs on green hydrogen. FalconAir has extensive experience in dealing with these aircraft and a global network of relationships, which will prove instrumental in purchasing both the aircraft and the test engine.”
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, said Mayer. The plan will then be to certify and commercialise via a planned public listing on a major exchange in the fourth quarter of 2023.