Ampaire raises $19M Series B funding from IAG, Alaska

Ampaire raises $19M Series B funding from IAG, Alaska

Californian startup Ampaire, which is developing hybrid-electric aircraft, has raised $19 million in Series B funding.  This fresh capital round, which brings the total raised so far by Ampaire to $68 million, has been led by DiamondStream Partners. Other investors include the venture capital arm of two prominent airline groups, International Air Group (IAG) and Alaska Airlines, as well as a number of other venture capital firms, such as Forward…

Ampaire closes USD19 million financing round to support hybrid electric aviation propulsion development

Ampaire, developer of hybrid-electric aviation propulsion systems, today announced the closing of a USD19 million Series B financing led by DiamondStream Partners. The financing brings Ampaire’s total funding to USD68 million, including approximately USD25 million in non-dilutive grants and contracts supporting the development and demonstration of its technologies and products, said the company in a press release. “This financing is about turning proven hybrid-electric performance into commercialized products and scaled operations. We have consistently demonstrated the technology in flight; this capital accelerates our deployment with customers, and expands our supply chain, manufacturing and operating capabilities required to reach commercial scale.” said Kevin Noertker, co-founder and CEO of Ampaire The round combines financial backing with strategic validation from aviation partners. Participants include Alaska Star Ventures, the corporate venture capital arm of Alaska Air Group, as well as IAGi Ventures, the corporate venture capital arm of International Airlines Group. Ampaire is working with airline, cargo and government partners to prepare its hybrid-electric engines for commercial entry into service across propulsion and auxiliary power (APU) applications. “Hybrid-electric propulsion has the potential to improve the economics and environmental performance of regional aviation while preserving the range and flexibility operators need. We appreciate Ampaire’s diligent and pragmatic approach to advancing technologies that don’t require new airframes or significant charging infrastructure. We are pleased to support Ampaire as it advances this technology toward commercial use and look forward to exploring its application to short-haul flying in the communities we serve.” Said Diana Birkett Rakow, CEO of Hawaiian Airlines and executive vice president at Alaska Airlines . The company will also advance the Part 33 certification of the AMPH570 hybrid-electric power system and the Part 23 Supplemental Type Certification program for the Eco Caravan, its hybrid-electric upgrade for the Cessna Grand Caravan. The Eco Caravan flight-test aircraft has consistently demonstrated approximately 54-57 percent lower total fuel burn than the legacy turboprop-powered configuration, including fuel that self-charges the batteries, said the company. For more information (Image: Ampaire’s Eco Caravan and Electric EEL hybrid-electric aircraft on the tarmac outside the company’s headquarters hangar at Long Beach Airport in Long Beach, California – Ampaire) https://fd46bca4-8fdb-4a60-bb5a-984ecb406747.filesusr.com/ugd/a0e619_00490cb976434533893487798964756e.pdf

IAG joins funding round for hybrid-electric APU startup

International Airlines Group (IAG) and Alaska Airlines have backed a US$19 million Series B funding round for Ampaire, a startup in hybrid-electric auxiliary power units (APUs). APUs keep aircraft systems running while planes are on the ground. However, most burn fuel. Ampaire will work with IAG to develop new technology for APU retrofits that will combine conventional engine power with electricity. IAG’s investment came from the group’s startup…

Ampaire Raises $19 Million to Advance Hybrid-Electric Aircraft Commercialization

Ampaire has closed a $19 million Series B financing round as the hybrid-electric aviation developer moves to expand flight operations, manufacturing and certification work. The round was led by DiamondStream Partners, with strategic participation from Alaska Star Ventures and IAGi Ventures, the corporate venture arms of Alaska Air Group and International Airlines Group. The financing