Heart Aerospace Raises “USD107 million in Series B Funding”

Swedish hybrid-elec­tric air­plane man­u­fac­tur­er, Heart Aero­space, recent­ly announced it has raised a total of USD107 mil­lion via a Series B fund­ing, reports a press release. This new round brings the total financ­ing gained, so far, to USD145 mil­lion. 

The company’s new investors include Sagit­ta Ven­tures (a Dan­ish investor focused on ear­ly-stage com­pa­nies), as well as Air Cana­da, Break­through Ener­gy Ven­tures, Euro­pean Inno­va­tion Coun­cil Fund, Norrsken VC and Unit­ed Air­lines.

Anders Forslund, co-Founder and CEO of Heart Aero­space, enthused, “This lat­est invest­ment fur­thers our mis­sion to decar­bonise and democ­ra­tise air trav­el. Because of the supe­ri­or eco­nom­ics of elec­tric air­craft over their fos­sil-fuel coun­ter­parts, the ES-30 will bring back ser­vice to com­mu­ni­ties that have lost con­nec­tiv­i­ty, while open­ing many new mar­kets.” Adding, “This upcom­ing year is an excit­ing one for the com­pa­ny as we pre­pare to unveil our full-scale air­craft demon­stra­tor.” 

The release explains, “Heart Aero­space intends to use the funds to fur­ther build its busi­ness and make progress toward type cer­ti­fi­ca­tion of the company’s first hybrid-elec­tric air­plane, the ES-30. This is a region­al air­plane with a seat­ing capac­i­ty of 30 pas­sen­gers that offers low­er emis­sions, noise pol­lu­tion and oper­at­ing costs on short haul routes than cur­rent con­ven­tion­al­ly-fuelled air­planes.” 

It con­tin­ues, “The ES-30 is cur­rent­ly the only clean sheet hybrid-elec­tric air­plane of its size with an active type cer­ti­fi­ca­tion appli­ca­tion with Euro­pean Union Avi­a­tion Safe­ty Agency, EASA. The focus in the upcom­ing year will be on the devel­op­ment of Heart Aerospace’s hybrid-elec­tric pow­er train.”

Anders Forslund

In addi­tion to announc­ing new fund­ing, Heart Aero­space has stat­ed that EQT Ven­tures part­ner, Ted Pers­son, will be join­ing the company’s Board of Direc­tors. Per­son remarked, “We believe that sus­tain­able indus­tri­al and elec­tri­fi­ca­tion solu­tions are not just the future; they are the present, and our invest­ment strat­e­gy reflects our unwa­ver­ing com­mit­ment to dri­ving pos­i­tive change in these crit­i­cal sec­tors.”

John Slat­tery, Chair­man of Heart Aerospace’s Board of Direc­tors, added, “Ted brings a wealth of exper­tise in prod­uct design, user expe­ri­ence, sto­ry­telling and brand­ing. We are delight­ed to have him on our team.” 

Heart Aero­space has 250 orders for the ES-30, with options and pur­chase rights for an addi­tion­al 120 planes. The com­pa­ny also has var­i­ous let­ters of intent.

For more infor­ma­tion

https://heartaerospace.com/

(Top image: Heart Aero­space ES-30)

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