H2Fly, acquired by Joby Aviation JOBY in 2021, created a buzz in the aviation space by achieving a milestone that no other company has accomplished so far. H2Fly announced that it has completed a series of liquid hydrogen-powered piloted flights of its four-seater HY4 demonstrator.
One of the flights lasted for more than three hours. Previously, H2Fly had completed flights powered by pressurized gaseous hydrogen.
The successful completion of these flights demonstrates the utility of employing cryogenically-stored liquid hydrogen instead of gaseous hydrogen. The usage leads to significantly lower tank weights and volume, which, in turn, leads to longer range.
The success of flights with liquid hydrogen is expected to increase the range of H2FLY’s HY4 demonstrator aircraft from 750 km to 1500 km. This is in-line with the achievement of the long-term goal of decarbonization of mid-to-long range aviation.
The achievement of this milestone implies the ending of Project HEAVEN, a European government-backed consortium led by H2FLY, on a happy note. The consortium was created to explore the use of cryogenic liquid hydrogen in planes. Following this achievement, JOBY’s wholly-owned subsidiary will now shift its focus on the path to commercialization.
Expressing delight on this accomplishment Joby Aviation’s founder and CEO, JoeBen Bevirt, said, “H2FLY are pioneers in their field, and we’re proud of them achieving this watershed moment in the use of liquid hydrogen to power aircraft."
Zacks Rank & Key Picks
Joby Aviation currently carries a Zacks Rank #4 (Sell).
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