MONTE and ZeroAvia Announce Partnership for 100 Hydrogen-Electric Powertrains
MONTE is excited to announce that it has signed an agreement with ZeroAvia, the leader in developing hydrogen-electric propulsion solutions for commercial aviation, to acquire 100 hydrogen-electric powertrain to retrofit existing regional turboprop aircraft.
MONTE will purchase up to 100 ZA600 powertrains to be installed on existing and new Cessna Caravan, DHC-6 Twin Otter, Dornier 228 and HAL-228 aircraft. MONTE and ZeroAvia aim to retrofit the aircraft for clients starting in 2024 and will provide and finance maintenance and hydrogen availability services to support these operations. As part of the deal, for these aircraft, MONTE will become ZeroAvia’s preferred financing provider and ZeroAvia will become MONTE’s exclusive hydrogen-electric powertrain provider.
The ZA600 powertrain - ZeroAvia’s 600kW system, is designed to support 5-20 seat airframes by 2024 - uses gaseous hydrogen stored onboard in lightweight tanks. The hydrogen feeds fuel cell stacks that generate power by converting hydrogen into electricity.
Timothy Eyre, Investment Director, MONTE said: “We are delighted to have partnered with ZeroAvia who are the market leader in hydrogen-electric propulsion technologies. Our partnership is an important step in our journey towards becoming one of the world’s first zero-emission aircraft lessors and we look forward to working with the ZeroAvia team on offering financing solutions for turboprop operators.”
James Peck, VP Business Development, ZeroAvia, said: “We’re pleased to announce our partnership with MONTE. Together, ZeroAvia and MONTE will provide a compelling proposition to operators of 5-20 seat aircraft. This partnership will offer flexibility to operators to allow them to launch zero-emissions flights on their networks, as well as extending the lifespan of hundreds of in-service airframes.”
About MONTE
MONTE is a pioneer in financing zero-emission technologies in the regional aviation market. MONTE is exclusively focused on supporting the aviation industry’s transition to net zero carbon emissions by providing financing and leasing solutions for zero-emission technologies to regional aircraft operators. MONTE has a goal of becoming the first zero-emissions aircraft leasing company in the world by 2027.
About ZeroAvia
ZeroAvia is a leader in zero-emission aviation, focused on hydrogen-electric aviation solutions to address a variety of markets, initially targeting a 300-mile range in 5-20 seat aircraft by 2024, and up to 1000-mile range in 40-80 seat aircraft by 2026. Based in the UK and USA, ZeroAvia has already secured experimental certificates for its two-prototype aircraft from the CAA and FAA, passed significant flight test milestones, secured a number of key partnerships with major aircraft OEMs and major global airlines, and is on track for commercial operations in 2024. The company’s expanding UK operations are supported by grants from UK’s Aerospace Technology Institute and Innovate UK, and ZeroAvia is part of the UK Government’s Jet Zero Council.