Getting Ahead in the Zero-Emissions Leasing Game

ZeroAvia, the British/American hydrogen-electric aircraft developer, announced that it has reached an agreement with MONTE Aircraft Leasing (MONTE)—a financial concern providing financing and leasing solutions to extant and aspiring operators of low and zero-emission aircraft.

The agreement converts a pre-existing Memorandum Of Understanding (MOU) for up to one-hundred ZeroAvia ZA600 hydrogen-electric engines to a definitive purchase agreement.

For ZeroAvia, the deal occasions a milestone insomuch as a significant portion of the company’s initial manufacturing capacity is now under commitment to MONTE, which holds the first ZA600 build slots.

The newly-formalized agreement positions MONTE to seize a significant share of the emergent zero-emissions regional turboprop aircraft leasing market. MONTE aims to retrofit extant 9-19 seat aircraft with ZeroAvia’s ZA600 powertrain, then lease subject aircraft to regional air-carriers in or about 2025. In addition to low and zero-emissions aircraft, MONTE intends to provide financing, infrastructure, maintenance, and hydrogen availability services to support its leasing customers’ operations.

ZeroAvia’s powerplant comprises fuel-cells which generate electricity from compressed, liquid hydrogen fuel. The electricity powers electric motors which can be mated to propellers or rotors to produce thrust. ZeroAvia’s hydrogen-electric propulsion system is some five-times more powerful than any such powerplant demonstrated to date.

Currently, ZeroAvia is entering the second phase of its prototype flight testing campaign in preparation for the planned 2025 certification of its 804-horsepower (600-kilowatt) ZA600 powertrain. Cessna’s C208B Grand Caravan has been designated the propulsion scheme’s launch airframe.

ZeroAvia chief customer officer James Peck stated: “As well as the huge technical and design milestones we are clearing, in tandem we are making enormous commercial progress, which means that operators will be able to fly lower cost, truly clean aircraft, sooner. Given its pure play focus on decarbonization, MONTE is a great partner for us, and we believe they will be at the forefront of enabling these early green operations in a growing market.”

MONTE chief operating officer Timothy Eyre remarked: “We are delighted to have formalized our partnership with ZeroAvia, who have made incredible progress on the ZA600 powertrain since we signed our initial MOU. Through this partnership, we have strengthened MONTE’s position in the zero-emission, regional turboprop market and enhanced our ability to offer operators solutions to decarbonize their fleets. We look forward to continuing our work with the ZeroAvia team as we continue on our journey to become one of the world’s first zero-emission aircraft lessors.”

FMI: www.zeroavia.com