HydrogenOne backs Cranfield Aerospace – HydrogenOne Capital Growth and Safran Corporate Ventures have signed definitive agreements for a common investment in Cranfield Aerospace Solutions as part of a more than £10m funding round.
HydrogenOne is investing £7m in this funding round. With this purchase of a minority equity stake, each company has the right to a board seat at Cranfield Aerospace.
In parallel with its investment, Safran will work with Cranfield Aerospace in the area of hydrogen fuel cell powered electric propulsion for aviation.
The statement says that Cranfield Aerospace Solutions is an aerospace market leader in the design and manufacture of new aircraft design concepts, complex modifications to existing aircraft and integration of cutting-edge technologies to meet the most challenging issues facing the aerospace industry today. It has refocused the company on Project Fresson – the unlocking of commercial hydrogen-electric propulsion flight. In the early stages, Cranfield Aerospace will focus on CAA certification of the Britten-Norman Islander passenger aircraft using hydrogen fuel cell power.
Cranfield Aerospace has over 90 staff and is one of very few small/mid sized aerospace businesses globally to have both whole aircraft design capability, and to hold a range of regulatory approvals for the design and manufacture of modifications to existing aircraft. It is a long-established aircraft company with a client base that has included Boeing, Airbus, and Rolls Royce (amongst others). The 9-seat hydrogen fuel cell powered Britten-Norman Islander aircraft is expected to be available from 2025, building on the technology flying demonstrator which has been supported to date by the UK Government through an ATI Grant.
HGEN : HydrogenOne backs Cranfield Aerospace