Swiss electric propulsion specialist H55 raises CHF 45 million

Swiss elec­tric propul­sion spe­cial­ist H55 has suc­cess­ful­ly com­plet­ed the first part of its Series C financ­ing round by secur­ing CHF 45 mil­lion in financ­ing, con­sol­i­dat­ing its posi­tion as a provider of cer­ti­fied elec­tric propul­sion avi­a­tion tech­nol­o­gy.

The secured funds will be deployed to finance H55’s ongo­ing infra­struc­ture invest­ments includ­ing build­ing a fac­to­ry in its recent­ly estab­lished Mon­tre­al, Que­bec facil­i­ty, mov­ing to semi and auto­mat­ed pro­duc­tion in the company’s pro­duc­tion facil­i­ties in Switzer­land and Cana­da, and open­ing a sub­sidiary in Toulouse, France.

These finan­cial resources will also expe­dite the devel­op­ment and com­mer­cial­i­sa­tion of H55’s elec­tric avi­a­tion tech­nolo­gies, encom­pass­ing advanced propul­sion sys­tems and state-of-the-art bat­tery tech­nol­o­gy.

H55 exec­u­tive chair­man and co-founder André Borschberg com­ment­ed: “This financ­ing mile­stone is a tes­ta­ment to the hard work and ded­i­ca­tion of the entire H55 team.

“Mak­ing a sig­nif­i­cant and pos­i­tive impact on the avi­a­tion indus­try has been a per­son­al goal, first with the Solar Impulse project and now with H55 which is rev­o­lu­tion­is­ing the avi­a­tion indus­try.

“We are grate­ful to our investors for shar­ing this vision and recog­nis­ing the trans­for­ma­tive impact of elec­tric avi­a­tion. As the demand for elec­tric propul­sion solu­tions is grow­ing, these funds will be instru­men­tal in expand­ing our team as well as our pro­duc­tion capac­i­ty to respond to spe­cif­ic ongo­ing cus­tomer projects.”

H55 CEO Mar­tin Larose added: “H55’s elec­tric propul­sion sys­tem has gained wide­spread acclaim for its excep­tion­al per­for­mance and pos­i­tive envi­ron­men­tal impact.

“This new financ­ing round will help to expand our foot­print in both the North Amer­i­can and Euro­pean mar­kets and con­tin­ue to rein­force our posi­tion as a lead­ing enabler of clean avi­a­tion.”

By reduc­ing car­bon emis­sions and noise pol­lu­tion, H55 claims it is pro­pelling the avi­a­tion indus­try towards a clean­er, more sus­tain­able future, con­tribut­ing to glob­al efforts to com­bat cli­mate change and to meet­ing net zero car­bon emis­sions for air trans­porta­tion.

Found­ed in Switzer­land and led by a team of vision­ary engi­neers and aero­space experts, the company’s mis­sion is to rev­o­lu­tionise the avi­a­tion indus­try by pro­vid­ing cer­ti­fied elec­tric propul­sion and bat­tery man­age­ment sys­tems tai­lored to a diverse range of air­craft.

Through its pio­neer­ing lega­cy as the tech­no­log­i­cal spin-off of the Solar Impulse elec­tric aero­plane which flew around the world in 2016 with only ener­gy from the sun, H55 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.

In March, H55 gained sup­port from the Cana­da Eco­nom­ic Devel­op­ment (CED) for Que­bec Regions to devel­op its Cana­di­an sub­sidiary.

Bat­tery Mak­er H55 Gains Sup­port From Cana­da Eco­nom­ic Devel­op­ment