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universal-hydrogens-hopes-grounded-company-collapses-amid-financial-woes
© Universal Hydrogen
universal-hydrogens-hopes-grounded-company-collapses-amid-financial-woes
© Universal Hydrogen

Universal Hydrogen’s hopes grounded: company collapses amid financial woes

US hydrogen aviator Universal Hydrogen (UH2) has gone bust after burning through cash reserves and not finding additional funding sources.

According to reports by The Seattle Times, a letter sent to shareholders by Mark Cousin, UH2 Chief Technology Officer, said executives were unable to secure financing to continue operations or an “actionable offer” for the sale of the business.

In a LinkedIn post, co-founder Jon Gordon, said, “UH2 proven unable to secure additional funding to move forward.

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