Pyka, a leader in electric aviation technology, has raised $40 million in Series B funding to accelerate the development and deployment of its autonomous electric aircraft. The funding will be used to enhance domestic manufacturing, increase production of the Pelican Spray and Pelican Cargo products, and expand operations with U.S. and international clients.
Volar Air Mobility and Exim Finance have joined forces to accelerate the adoption of electric aircraft globally. This strategic partnership, formalized by a Memorandum of Understanding (MoU), aims to develop innovative green financing solutions, making eco-friendly aircraft more accessible. The collaboration will focus on Volar’s RX-series Electric Aircraft, including the RX4E, the world’s first four-seater electric plane, paving the way for a more sustainable future in aviation.
Surf Air Mobility, a leading innovator in regional air mobility, has secured approval from the New York Stock Exchange (NYSE) to regain compliance with listing standards. The company, committed to electrifying its fleet, aims to revolutionize regional air travel with sustainable and cost-effective solutions.
H55, a Swiss-based company pioneering electric aviation technologies, has successfully closed its Series C funding round, securing CHF 65 million. This includes an investment from the Government of Quebec, marking a significant milestone in H55’s mission to revolutionize the aviation industry with certified electric propulsion and battery management systems. This funding will enable H55 to complete final EASA certification testing for its battery packs by the end of 2024, making them the first company in the world to achieve this feat. The company will also use the funds to expand its North American operations, including manufacturing at its Montreal facility and product development with key customers like Pratt & Whitney Canada, CAE, and Harbour Air.
Harbour Air, a British Columbia-based seaplane airline, has announced plans to acquire 50 electric engines from magniX to electrify its fleet. The move aims to establish a west coast sustainable aviation hub and offer electric conversion services to third parties. The company’s partnership with magniX is expected to facilitate engine validation and certification in Canada and the United States, enabling the installation of magni650 electric engines in DHC-2 Beaver seaplanes. Harbour Air’s efforts to transition to electric aircraft are significant, considering their historic 2019 test flight of the world’s first fully electric commercial aircraft and subsequent test flights. This initiative aligns with the company’s goal of obtaining commercial certification for its first electric aircraft by 2026.
