What H2FLY does

H2FLY GmbH is a Stuttgart, Germany-based developer of hydrogen-electric propulsion systems for aviation, founded in 2014 by five engineers from the German Aerospace Center (DLR) and the University of Ulm. The company designs and builds modular fuel cell systems scalable from 30 kW to megawatt-class applications, aviation-grade cryogenic liquid hydrogen tank systems, and the supporting liquid hydrogen infrastructure that airports need to operate hydrogen-electric aircraft. Its technology stack is demonstrated by the HY4, the world's first hydrogen-electric passenger aircraft (first flight 2016), and by the next-generation H2F-175 fuel cell system engineered for 27,000-feet commercial operations.

The company's go-to-market is B2B enterprise sales into the aerospace value chain. H2FLY sells and integrates hydrogen-electric propulsion hardware and engineering services directly to aircraft manufacturers (notably Deutsche Aircraft, for a hydrogen-electric Dornier 328 targeting first flight in 2025 and 40-passenger/2,000 km service), to eVTOL developers (parent Joby Aviation following the 2021 acquisition), and to airport operators (Stuttgart Airport Hydrogen Aviation Center). Revenue is generated through three channels: (1) hardware sales of fuel cell systems and hydrogen infrastructure; (2) technology licensing and integration services for commercial aircraft platforms; and (3) government-funded R&D programs including BALIS 2.0 (EUR 9.3 million from BMDV, 2024-2026), the EU Horizon 2020 HEAVEN project (where H2FLY is overall project leader), and the GOLIAT consortium. The company operates from a 51-100 person team headquartered in Stuttgart, with engineering operations at Stuttgart Airport, and is privately held as a subsidiary of Joby Aviation.

Name

H2FLY

Legal name

H2FLY GmbH

Website

https://h2fly.de

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

H2FLY GmbH is a Stuttgart-based hydrogen-electric aviation propulsion developer that builds modular fuel cell systems, cryogenic liquid hydrogen storage, and airport hydrogen infrastructure for aircraft manufacturers, eVTOL developers, and airport operators.

Ownership category

akta.pro rank

Headquarters

HQ city

Stuttgart

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Infrastructure, Supply Chain, Operations

Revenue model

1. Hydrogen Fuel Cell System Sales: Direct sales of hydrogen-electric propulsion systems to aircraft manufacturers and integrators. H2FLY sells its fuel cell systems and liquid hydrogen infrastructure technology to commercial aviation partners including Deutsche Aircraft for regional aircraft applications.
2. Government-Funded R&D Programs: H2FLY participates in multiple government-funded research programs including BALIS 2.0 (EUR 9.3 million from BMDV), HEAVEN project (EU Horizon 2020), and GOLIAT consortium. These programs fund technology development and demonstration activities.
3. Technology Licensing and Integration Services: Licensing of hydrogen-electric propulsion technology to aircraft manufacturers and provision of engineering integration services for commercial aircraft platforms such as the Dornier 328 hydrogen conversion project.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

H2FLY researches, develops, and delivers hydrogen-electric propulsion systems for aircraft, including modular fuel cell systems scalable from 30 kW to megawatt-class, aviation-grade liquid hydrogen tank systems, and liquid hydrogen infrastructure solutions for airports. The company provides engineering integration services and operates R&D programs to bring hydrogen-electric powertrains into commercial regional aviation.

Product overview

H2FLY is a hydrogen-electric propulsion systems developer for aviation, offering a portfolio of integrated solutions including Fuel Cell Systems (scalable from 30 kW to megawatt-class), Liquid Hydrogen Tank Systems, and Liquid Hydrogen Infrastructure. The company also provides Concept Modeling & Development services. These core products are demonstrated through the HY4 test aircraft, the world's first hydrogen-electric passenger aircraft. Recent developments include the H2F-175 next-generation fuel cell system for commercial aircraft operating up to 27,000 feet, and the BALIS 2.0 project developing 350 kW fuel cell modules for regional aircraft with 40-80 seats. The company operates within a broader hydrogen aviation ecosystem involving infrastructure and operational integration.

Differentiator

Problem solved

Functional benefit

Brands

• HY4: The HY4 is H2FLY's hydrogen-electric test aircraft, the world's first hydrogen-electric passenger aircraft, featuring a twin-fuselage design with fuel cell propulsion system.
• H2F-175

Products and services

• Fuel Cell Systems High-performance, modular fuel cell systems scalable from 30 kW to megawatt-class applications for hydrogen-electric aircraft propulsion, designed for aviation certification.
• Liquid Hydrogen Tank Systems Liquid hydrogen (cryogenic) storage systems developed for aviation-grade safety and integration across different aircraft platforms.
• Liquid Hydrogen Infrastructure Liquid hydrogen infrastructure solutions supporting airports and airfields in building the ecosystem hydrogen-electric aviation requires.
• Concept Modeling & Development Engineering support services for concept modeling and development of hydrogen-electric aircraft integration.
• H2F-175 Fuel Cell System Next-generation hydrogen fuel cell system designed for commercial aircraft applications, capable of operation at altitudes up to 27,000 feet.

Quantifiable outcome

• HY4 demonstrator achieves 1,500 km range with liquid hydrogen (doubled from 750 km with gaseous hydrogen)
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered core, minor and flagship.

• DLR (Deutsches Zentrum für Luft- und Raumfahrt)coreStrategic or Co-development Partner · 6 May 2024DLR is a key research partner in the BALIS 2.0 project, studying coupling behavior of fuel cell systems in megawatt-class range with electric drive. DLR operates the BALIS test field in Empfingen, Germany for ground testing. DLR brings 15+ years of fuel cell aircraft experience including the Antares DLR-H2 first flight in 2009.
• Diehl AerospacecoreStrategic or Co-development Partner · 6 May 2024Partner in BALIS 2.0 project developing control and regulation technology for hydrogen-based energy generation system. Diehl Aerospace contributes Integrated Modular Avionics (IMA) expertise and high-performance computing platform for safety-critical functions and fuel cell propulsion scaling.
• Air LiquidecoreStrategic or Co-development Partner · 5 April 2023Air Liquide designed and supplied the liquid hydrogen (LH2) cryogenic storage tank integrated into the HY4 aircraft. Partner in HEAVEN project. Air Liquide Advanced Technologies provides cryogenic tank expertise and conducted vibration and LH2 leakage testing at Campus Technologies Grenoble before integration.
• aireg (Aviation Initiative for Renewable Energy in Germany)minorGTM or Marketing Partner · 21 December 2021H2FLY joined aireg to contribute expertise in hydrogen fuel cells and hydrogen as fuel alongside sustainable aviation fuel efforts. The initiative focuses on renewable energy in aviation.
• Deutsche AircraftflagshipStrategic or Co-development Partner · 6 July 2021Strategic partnership to develop hydrogen-electric version of Dornier 328 regional aircraft. The demonstrator targets first flight in 2025 with a 1.5 MW hydrogen fuel cell system. Aircraft to have 2,000 km range and carry up to 40 passengers. H2FLY provides the fuel cell propulsion system and integration expertise.
• Joby AviationflagshipStrategic or Co-development Partner · 1 January 2021Joby Aviation acquired H2FLY in 2021. The companies partnered to demonstrate hydrogen-electric eVTOL flight, achieving the world's first forward flight of a VTOL aircraft powered by liquid hydrogen over 523 miles. Joby is a California-based company developing electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger service.
• Pipistrel Vertical SolutionscoreStrategic or Co-development PartnerPartner in HEAVEN project supporting mechanical integration and testing of liquid hydrogen tank systems into aircraft platforms. Pipistrel provides aircraft integration expertise for hydrogen propulsion systems.
• Stuttgart AirportcoreStrategic or Co-development PartnerPartnership with Flughafen Stuttgart GmbH to establish Hydrogen Aviation Center at Stuttgart Airport. The center will provide facilities for hydrogen-electric aircraft development, testing, and integration. Scheduled to open end of 2024 with hangar, test stands, workshops, and integration environments.
• University of UlmminorStrategic or Co-development PartnerAcademic partner from which H2FLY originated. Founded by five engineers from University of Ulm alongside the German Aerospace Center. Provides ongoing research collaboration in hydrogen aviation technology.
• NOW GmbHminorOthersCoordinates funding guidelines for hydrogen aviation projects including BALIS 2.0. German government organization supporting hydrogen mobility initiatives.
• EKPO Fuel Cell TechnologiescoreTechnology or IntegrationPartner in HEAVEN project working on fuel cell stack development. Contributes to hydrogen fuel cell technology advancement for aviation applications.
• Fundación AyesaminorStrategic or Co-development PartnerPartner in HEAVEN project responsible for cost analysis of hydrogen aviation technology development and commercialization.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• ZeroAvia: ZeroAvia is the most direct competitor to H2FLY, developing hydrogen-electric powertrains for regional aircraft. Both companies target 40-seat class regional conversions, have achieved first hydrogen-electric flights, and are pursuing type certification, making ZeroAvia the closest comparable in technology, customer segment, and regulatory pathway.
• Universal Hydrogen: Universal Hydrogen developed hydrogen fuel cell powertrains and a modular capsule-based LH2 distribution system for regional aircraft, directly overlapping H2FLY's integrated fuel cell + LH2 infrastructure stack. The two are pursuing similar airframer partnerships and regional airport use cases.

Emerging players

• magniX: magniX develops electric propulsion motors for regional aircraft (e.g. Eviation Alice, Harbour Air). It is an adjacent direct peer: H2FLY's fuel cell systems feed electric motors like magniX's, and both target the same regional aviation decarbonization opportunity, though magniX is battery-only rather than hydrogen-fueled.
• Heart Aerospace: Heart Aerospace is developing the ES-30, a 30-seat regional aircraft originally planned as battery-electric and increasingly exploring hybrid-electric and hydrogen options. It is comparable to H2FLY as a fellow regional-aviation decarbonization startup pursuing fuel cell or hybrid propulsion for short-haul routes.
• Wright Electric: Wright Electric is developing electric and hydrogen propulsion for commercial regional aircraft (e.g. Wright Spirit for 100+ seat conversions). It is an emerging peer targeting the same hydrogen-electric regional aviation category as H2FLY.
• Deutsche Aircraft: Deutsche Aircraft is H2FLY's flagship partner and a regional turboprop OEM (Dornier 328) developing a hydrogen-electric variant. While not a direct technology peer, it is the airframer whose roadmap most directly determines H2FLY's near-term commercial demand.

Broad incumbents

• Joby Aviation: Joby Aviation is H2FLY's parent company and a leading eVTOL aircraft developer pursuing FAA type certification. As both owner and primary eVTOL customer, Joby is the most direct strategic counterpart and the largest commercial pull-through for H2FLY's hydrogen propulsion technology.
• Ballard Power Systems: Ballard Power Systems is a major PEM fuel cell stack manufacturer serving heavy-duty mobility (trucks, buses, rail, marine) and is increasingly exploring aviation applications. It is a broad incumbent with overlapping fuel cell technology that could either partner with or compete against H2FLY in aviation propulsion.
• Airbus (ZEROe): Airbus's ZEROe program is developing hydrogen-powered commercial airframes for entry into service in the mid-2030s. It is a broad incumbent with vastly greater capital and certification resources, targeting the same end-market and competing for the same regional-to-narrowbody decarbonization demand that H2FLY addresses at a smaller scale.
• Plug Power: Plug Power is a leading PEM fuel cell system manufacturer for mobility and stationary applications. While it does not target aviation specifically, it is a broad incumbent whose PEM stack technology and hydrogen production capabilities compete for the same fuel cell engineering talent and component supply that H2FLY depends on.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/H2FlyOfficial
• LinkedInlinkedin.com/company/h2fly

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about H2FLY