When people think of carbon emissions, they may imagine a traffic-jammed freeway or a plume of smoke coming out of a coal plant. But former Airbus Chief Technology Officer Paul Eremenko and his team have their sites set on a different culprit: regional aircraft.
Their company, Universal Hydrogen, is creating a kit that eliminates carbon emissions from airplanes. But the Hawthorne-based company has bigger ambitions to develop a hydrogen fuel distribution network that can be used in airports across the world. Read more...
Here's what else we're reading in the news:
- ChowNow, an L.A.-based food ordering platform, has named Andre Manci as its new chief financial officer.
- Lyft received 4,158 sexual assault reports between 2017 and 2019, according to its first published safety report.
- Beyond Meat shares plummeted after the company adjusted its 3rd-quarter revenue expectations downward.
- One hedge fund that invested in Trump's new media company has sold its stake after Digital World Acquisition shares spiked more than 100% on Friday.
- Twitter amplifies more right-leaning political tweets than those from the left, according to the the company's research.
- Global venture investments in HR tech startups shot up 130% from 2020, according to new PitchBook data.
Universal Hydrogen to Test the First Hydrogen-Fueled Airliner
Universal Hydrogen is set to launch its first flight test using their hydrogen fuel cell powertrain on a 40-person passenger regional airliner in 2022. Last week, the Hawthorne-based company said it secured $62 million to accelerate its technology in time for the test flight.
Wine Subscription Company Winc Postpones IPO
Santa Monica-based wineseller Winc has postponed its expected debut on the New York Stock Exchange. The company had planned to go public this week, valued at around $263 million. Instead, it has been pushed to a later, unknown date, a NYSE spokesperson told dot.LA.
OpenDrives Hires Ex-Activision Esports' Executive
Digital storage company OpenDrives is making a move into esports and gaming, hiring former Activision Blizzard post production lead André Rievers to help lead the effort.