ZeroAvia has announced its acquisition of HyPoint, a leading fuel cell stack innovator – for an undisclosed sum.
This acquisition adds HyPoint’s fuel cell technology to ZeroAvia’s mission and expertise with developing the powertrain to enable hydrogen-electric flight. All 40 of the HyPoint team will be integrated into ZeroAvia and work across its R&D locations in the UK.
The two companies have already worked closely together on co-developing and testing HTPEM fuel cell technology as part of ZeroAvia’s powertrain development over the last couple of years.
Val Miftakhov, CEO and Founder, ZeroAvia, said: “We see this as a significant forward step for ZeroAvia, and a hugely important strategic step to strengthen our leadership position in hydrogen-electric powertrain development for aviation. There are no other organizations with the breadth of expertise and world-leading IP in hydrogen-electric aviation that we now have within the company.
Alex Ivanenko, former CEO of HyPoint and newly appointed GM for VTOL and New Segments at ZeroAvia, said: “This acquisition is the natural next chapter in our journey, allowing us to tap into the benefits of the larger and strategic resources that ZeroAvia has to offer. It will accelerate our product development and, as a result, partners from different market segments will get mature products based on novel turbo-air cooled HTPEM hydrogen fuel cells.”