HydrogenOne Capital Growth and Safran to jointly invest in UK flight innovator Cranfield Aerospace

HydrogenOne Capital Growth and Safran Corporate Ventures are pleased to announce that they have signed definitive agreements for a common investment in Cranfield Aerospace Solutions (CAeS) as part of a more than £10 million funding round.

HGEN is investing a total of £7 million in this funding round and Safran Corporate Ventures £3.5 million. With this purchase of a minority equity stake, each company is entitled to a board seat at CAeS.

CAeS 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. CAeS has refocused the company on Project Fresson, the unlocking of  commercial hydrogen-electric propulsion flight. In the early stages, CAeS will focus on CAA (Civil Aviation Authority) certification of the Britten-Norman Islander passenger aircraft using hydrogen fuel cell power.

In parallel with its investment, Safran will work in partnership with CAeS spanning the area of hydrogen fuel cell powered electric propulsion for aviation.

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