Joby Aviation (NYSE:JOBY) stock is on the rise Friday after the vertically integrated air mobility company announced results from a test flight.
The big news here is H2FLY, a subsidiary of Joby Aviation, completing its test flight of a liquid hydrogen-powered electric aircraft. That’s worth noting as it’s the first time a test flight of such an aircraft has been completed with a pilot.
The company’s HY4 demonstrator aircraft was used for these test flights. Among them was one impressive flight that saw the aircraft remain in the skies for three hours. The company notes that this shows “the viability of using cryogenically-stored liquid hydrogen instead of gaseous hydrogen, which enables significantly lower tank weights and volume, leading to longer range.”
JoeBen Bevirt, founder and CEO of Joby Aviation, said the following about the test flight news:
“In the years to come, battery-electric and hydrogen-electric propulsion systems will enable us to build aircraft that are quieter and make mid- to long-range air travel possible with zero emissions. It’s critical we take action now and invest aggressively in these technologies for the health of our planet and future generations to come.”
JOBY Stock Movement on Friday
Despite the positive news today, shares of JOBY stock aren’t seeing much movement. Only about 845,000 shares have changed hands as of this writing. For the record, its daily average trading volume is closer to 10.2 million shares.
JOBY stock is up slightly as of Friday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
