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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