California-based Universal Hydrogen — which put a hybrid prototype for a hydrogen-fueled airplane into the air last year in Moses Lake, Wash. — has run out of money and is shutting down operations.
The shutdown was first reported June 29 by The Seattle Times, citing a letter that was sent to shareholders on June 27 by Mark Cousin, the startup’s chairman and CEO. Cousin’s letter said the company’s executives were “unable to secure sufficient equity or debt financing to continue operations and similarly were unable to secure an actionable offer for a sale of the business or similar strategic exit transaction,” according to the newspaper.
Universal Hydrogen co-founder Jon Gordon confirmed the closure in a LinkedIn posting. “Despite everyone’s best efforts, UH2 proved unable to secure additional funding to move forward,” Gordon wrote. “Perhaps we were just too early. Perhaps we couldn’t convince the world that hydrogen, and not just SAF [sustainable aviation fuels], are necessary for the future of aviation. Time will tell.”
Universal Hydrogen made its mark in March 2023 when it flew a modified De Havilland Dash 8-300 turboprop with a hydrogen-fueled electric propulsion system mounted on the plane’s right wing. The system incorporated a megawatt-class motor built by Everett, Wash.-based MagniX. The engine on the left side was left unconverted to serve as a backup.
Less than four months after that initial flight, Universal Hydrogen relocated its test program from Moses Lake to the Mojave Air and Space Port in California. In February, the company announced a successful on-the-ground test of its hydrogen storage module and fuel-cell powertrain — and said it planned to have the system used in passenger airplanes by 2026.
Universal Hydrogen’s shutdown serves as one more sign that if hydrogen is to become a widely used energy option, it’s likely to take longer than its proponents had hoped.