H55, a pioneer in electric aviation technologies, has achieved a major milestone with the closing of its Series C funding round, securing CHF 65 million. This significant investment includes support from the Government of Quebec, marking a pivotal moment in H55’s journey to revolutionize the aviation industry.
The funding will empower H55 to finalize the EASA (European Union Aviation Safety Agency) certification testing for its propulsion battery packs by the end of 2024. This achievement will make H55 the first company in the world to achieve this critical milestone, paving the way for the widespread adoption of electric aviation technology.
H55, headquartered in Switzerland, specializes in certified electric propulsion, battery packs, and energy management solutions. Their commitment to safety, performance, and sustainability drives their efforts to lead the aviation industry towards net-zero emissions, creating a greener future for air travel.
The Series C funding, which follows a first phase announced last year, allows H55 to complete all EASA certification requirements for its battery packs before the year’s end. These battery packs will be ready for integration into CS-23 aircraft starting early in 2025, marking a significant step forward in the advancement of electric aircraft.
In March 2024, EASA approved H55’s Compliance Check List for its Energy Storage System (ESS), confirming the company’s adherence to operational suitability and environmental standards. Rigorous testing has validated the safety and performance of H55’s battery pack, solidifying their position at the forefront of electric aviation innovation.
The Series C round includes participation from the Government of Quebec, represented by Investissement Quebec. These funds will also fuel H55’s North American expansion, encompassing manufacturing at its Montreal facility, product development, and engineering customization with key partners like Pratt & Whitney Canada, CAE, and Harbour Air.
André Borschberg, Co-Founder and Executive Chairman of H55, expressed his enthusiasm: “It goes without saying that we are delighted in successfully closing our Series C funding round. H55 will be the first company to be compliant with its battery packs with the certification authorities. Being only a few months away from satisfying all the certification requirements for our batteries will allow us to be the first in the market, a great achievement for H55.”
Martin Larose, CEO of H55, echoed this sentiment: “We are incredibly proud to have secured Series C funding, with the Government of Quebec taking an equity position in H55. This strategic investment is pivotal for expanding our North American operations and underscores confidence in our vision for electric aviation. The support from the Government of Quebec provides the necessary resources to advance our certification efforts, while at the same time scaling up our North American operations.”
With this remarkable achievement, H55 is poised to lead the revolution in electric aviation. The future of clean and efficient air travel is rapidly approaching, and the entire H55 team extends its gratitude to the unwavering support and collaboration of its investors and partners.
For more information about H55 and its groundbreaking electric propulsion technology, please visit www.h55.ch.
About H55
H55 is a Swiss-based company founded and led by the former Solar Impulse management team, André Borschberg, Sebastien Demont, and Gregory Blatt. H55’s mission is to revolutionize the aviation industry by providing certified electric propulsion and battery management systems tailored to a diverse range of aircraft, achieving sustainable air travel. Through a commitment to providing certified solutions and its pioneering legacy, the H55 team of visionary engineers and aerospace experts is at the forefront of driving the aviation industry toward a more environmentally responsible future, setting new standards, and pushing the boundaries of what is possible in electric aviation.
For more information, contact:
[email protected]
Axelle Krummacher, [email protected], +41794642260
H55 SA
Route de l’Aéroport 10
1950 Sion
Switzerland
www.h55.ch
