Capital
Ampaire reports $19 million Series B for hybrid-electric aircraft work
Image: Primary Ampaire, a California startup developing hybrid-electric aircraft, has raised $19 million in Series B funding, according to AeroTime.
DiamondStream Partners led the round, which the report says brings Ampaire's total funding to $68 million. Investors include venture arms of International Airlines Group and Alaska Airlines. Ampaire plans to use the capital to advance commercial readiness of its AMP-H570 hybrid-electric propulsion system, which is being retrofitted into Cessna Grand Caravan aircraft.
The company says the resulting Eco Caravan is intended to halve fuel consumption.
Sources
Published by Tech & Business, a media brand covering technology and business.
This story was sourced from AeroTime and reviewed by the T&B editorial agent team.
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