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Management news
Universal Hydrogen shuts down after failing to secure funding
Hydrogen Economy
Jul 1, 2024
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Hydrogen Economy

Hydrogen Economy

Jul 1, 2024

Universal Hydrogen shuts down after failing to secure funding

Management news

  • Universal Hydrogen, a startup producing hydrogen fuel tanks for aircraft, has announced that it will shut down operations due to financial difficulties.

  • The company has been unable to secure additional funding to continue operations or find a buyer for its business, having burned through USD 100 million of its previously raised funds. 

  • The company, which had previously reached a milestone in March 2023 by flying a 40-passenger hydrogen-powered aircraft from Washington to California, is now liquidating its business.  

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