“…Advanced aerial mobility company H3 Dynamics has secured $26 million in Series B funding that it will use to accelerate its work to use hydrogen technology in its drones rather than the standard battery-powered model.
“Air mobility contributes to just 6 percent of the total CO2 emissions in the world. That being said, when surveying the logistics space, we realized some of the major participants have a great majority of their emissions coming from aerial transport; up to 66 percent of all CO2 emitting activities,” founder and CEO Taras Wankewycz told Modern Shipper.
“With continued e-commerce growth, and the growing challenges in international maritime shipping, air cargo is a fast-growing logistics segment meaning carbon emissions are going to be an equally fast-growing issue.
“Hydrogen electric unmanned aerial systems can fly several times further than a battery-electric equivalent,” Wankewycz continued. “If stored in gaseous form, it can be up to six times the duration of a battery drone—if liquid, that could be over 10 times.”
The funding round for the Singapore-based company was led by Japan’s Mirai Creation Fund, which is backed by Toyota Motor Corp. and Sumitomo Mitsui Banking Corp. Other investors included:
“We are delighted to welcome such an experienced and supportive group of investors as we embark on the next stage of our journey,” Wankewycz said. “Our investors share our big-impact vision and how we get there safely. They recognize that this is a long journey and that we must first address our immediate markets while solving key technical and regulatory challenges – before adding more complexity.”