Aviation H2 Signs Partnership with FalconAir & Launches Series B Capital Raise

Source: www.gulfoilandgas.com 5/5/2022, Location: Not categorized

Aviation H2, the company behind Australia’s first hydrogen-powered plane, has signed a strategic partnership with a major aircraft charter operator, FalconAir.

With momentum on its side, the company has also launched a capital raise via the online trading platform VCEX to fund the purchase of test engines and the construction of its first modification prototype.

Terms of the FalconAir agreement:
- Aviation H2 will get access to the FalconAir Bankstown hangar, facilities and operating licences so they can begin building Australia's first hydrogen-powered plane.
- FalconAir will help Aviation H2 acquire the test engines and aircraft that will be used to deliver the project.
Provide specialist and licensed aircraft maintenance engineering, piloting and hangarage.
- Use their proven expertise to help communicate with aviation authorities and accelerate the certification process.
- After recently completing their feasibility study, which outlines a clear path towards building one of the world’s first hydrogen-fuelled planes, Aviation H2 says they are on track to having a plane in the sky by the middle of 2023.
- Once the test flight is successful, Aviation H2 will have a patentable method for modifying aircraft so they operate on carbon-free fuel.
- Following this, they will quickly seek to certify and commercialise this product via a planned public listing on a major exchange in Q4 of 2023.

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