Stratos (Monaco) has today announced its investment in Universal Hydrogen Co., the company leading the fight to decarbonise aviation through the adoption of hydrogen as a universal fuel. The investment is part of a funding round recently closed by Universal Hydrogen and was made via Stratos BeYoke Hydrogen fund I, along with a Japan-based financial partner.
Gary Fitzgerald, CEO of Stratos said "Decarbonisation is an enormous challenge for our industry, not least because of the high energy needed to rapidly transport many people over long distances. With our growing team of technical and ESG specialists we have sifted through several developments – including electric/battery, hybrid, sustainable fuels - and have decided that hydrogen is one of the cleanest and most promising ways forward to help our industry meet climate targets. With their hugely experienced team, we are delighted to be investors in Universal Hydrogen and intend to build on our partnership by bringing innovative equipment financing solutions to help turn the dream of zero carbon flight into reality.”
“We are delighted by the investment from Stratos,” said Paul Eremenko, co-founder and CEO of Universal Hydrogen. “We look forward to working closely with them, along with all of our strategic investors, to get aviation on a trajectory to meet Paris Agreement targets. This can only happen if the next generation of narrowbody aircraft is powered by green hydrogen.”