Itochu Invests in U.S. Aircraft Engine Maker ZeroAvia

Economy

Tokyo, July 9 (Jiji Press)--Japanese trading house Itochu Corp. said Tuesday that it has invested an undisclosed amount in ZeroAvia Inc., a U.S. maker of hydrogen-electric engines for aircraft.

The two companies also signed a memorandum of understanding to allow Itochu to act as a sales representative for ZeroAvia in Asia and them to collaborate in creating hydrogen infrastructure.

In January 2023, ZeroAvia successfully demonstrated that a 19-seat aircraft can fly using its engine. The company aims to obtain certification of engines for small aircraft with nine to 19 passengers by 2025, and that for regional aircraft with 40 to 80 passengers by 2027.

Through the investment, Itochu aims to promote decarbonization of the aviation industry.

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