- Project Fresson gets GBP 10.5 million Investment.
AirCraft Innovation Company has been confirmed as an investment target by HydrogenOne Capital Growth plc (HGEN) and Safran Group’s corporate business arm. Both companies are investing a total of GBP 10.5 million in a project called Project Fresson. The higher percentage of the investment ( GBP 7 million) comes from HGEN and the rest from Safran Corporate Ventures. Project Fresson is aimed at mainstreaming commercial hydrogen-electric propulsion flight. Initial efforts will focus on Civil Aviation Authority certification of a Britten-Norman Islander passenger aircraft powered by the hydrogen fuel cell.
“As we prepare for ground and flight testing, this backing by our investors will enable us to accelerate delivery of our flying demonstrator in 2023 and certified aircraft in 2025,” said CAeS chief executive Paul Hutton.
Additionally, Safran and CAeS will work as partners on hydrogen fuel-powered electric propulsion for aviation. “This investment and this technological partnership confirm Safran’s strategy in net zero aviation and contribute to making Safran a competitive player for developing fuel cells for aircraft,” said Ghislaine Doukhan, chief executive of Safran Power Units.