Universal Hydrogen announced $20.5-million Series A financing round led by prominent Silicon Valley venture fund, Playground Global, with the investor syndicate comprising Fortescue Future Industries, Coatue, Global Founders Capital, Plug Power, Airbus Ventures, JetBlue Technology Ventures, Toyota AI Ventures, Sojitz Corporation, and Future Shape. Founded in 2020 by aviation industry veterans Paul Eremenko, John-Paul Clarke, Jason Chua, and Jon Gordon, Universal Hydrogen is stitching together the end-to-end hydrogen value chain for aviation, both for hydrogen fuel and hydrogen-powered airplanes. The financing allows Universal Hydrogen to accelerate the development of its hydrogen logistics network and regional aircraft conversion kits, and bolsters the company‚Äôs burgeoning commercial activities. Universal Hydrogen is building a fuel distribution network that connects hydrogen production directly to the airplane using modular capsules that are transported using the existing freight network, avoiding the need for costly new pipelines, storage facilities, and fuel trucks. Universal Hydrogen modular capsule. The […]