RIP: Universal Hydrogen to wind up operations

Universal Hydrogen, an innovative startup and leader in hydrogen-powered aircraft, has declared bankruptcy after exhausting $100 million of investor capital.  The company was unable to raise additional capital, and has shut down operations.  The was a surprise to many in the industry, as the company had reached several key milestones

and was looking forward to future flight tests of its system by 2026.

The company successfully ran a megawatt-class fuel cell powertrain using a proprietary liquid hydrogen fuel module.  This was the largest fuel cell ever to run on liquid hydrogen, and simulated a 1 hour 40 minute regional aircraft flight profile.  Two such modules could power an ATR-72 size regional aircraft for a 500 nautical mile flight.

A video of the Universal Hydrogen system can be seen here from last February touting their breakthrough.  Unfortunately, the company could not raise additional capital, according to CEO Mark Cousin. He sent a letter to shareholders this week stating that the board had decided to “wind up the company after efforts to raise further financing from new investors failed.”