I will copy my comment on an earlier article about a similar investment and paste it here.
"Low passenger carrying, short haul, electrically driven aircraft may be becoming more viable in the next 10-20 years with advancements in higher density batteries. To date, the only major commercial aircraft to take a leap in this direction is the B787 with it's electrically powered surfaces but the propulsion remains a petroleum-based turbofan. Simply, batteries are heavy, have low energy densities and contribute to a high weight-to-thrust ratio.
The hydrogen economy has been tried and tested in various scales over the years. However, I see little progress in the major use of hydrogen as an alternative to petroleum even in the future. The low density of hydrogen requires high cryogenic compression to store any substantial value of energy. While hydrogen has a high specific energy density, it's volumetric energy density remains low without substantial compression. There are inherent problems with flying around holding large tanks of compressed combustible substance with a low-ignition-limit like hydrogen. Even if we overcome the practical problems with storage and calorific value, cultivation of hydrogen consumes excessive energy, either through hydrolysis or through pyrolysis and/or gasification. The latter two also releasing large quantities of GHGs in the process and all requiring a primary energy source. Due to all this, I consider natural gas is a more viable alternative. It is cleaner (than jet kerosene), more efficient as a fuel and easily adaptable to the existing gas turbines. Nat gas can be extracted as it is done today or synthesized through gasification or biochemical pathways.
So while I am all for the advancement of science and genuinely wish Embraer the best, I would place my money on renewable (maybe bio) fuels and more efficient aircraft engine concepts, including the return to turboprops, because they are extremely efficient and latest designs are quiet. Ultimately, the underlying issue at hand is not the energy that we use in the aircraft, but how we produce that energy to begin with. Electricity, hydrogen, jet kerosene, natural gas can all be created through carbon neutral or carbon intensive methods - the cost remains the prohibitive factor for the former.
Clearly a topic I very much am invested in."