- The round is being led by ND Capital, Tippet Venture Partners, RTX Ventures and prominent private investors
- The financing will support H55 path to Type Certification (TC) by 2024
- H55 has established subsidiaries and facilities in Montreal and Toulouse to serve North American and European customers
- The funding will further accelerate the commercialization of electric and hybrid propulsion solutions and battery systems for the emerging electric aviation industry, enabling H55 to respond to growing demand for its propulsion and battery systems
Sion, Switzerland September 21, 2023, 12.00 CET – H55 is delighted to announce the successful completion of the first part of its Series C financing round securing CHF 45 million in financing. The company has raised substantial financing from a group of distinguished strategic and financial investors, further consolidating the company’s leading position as a major provider of certified electric propulsion aviation technologies.
H55 is at the forefront of revolutionizing the aviation industry with its cutting-edge electric propulsion technologies. The company’s groundbreaking solutions are designed to enhance the sustainability, efficiency, and safety of the aerospace sector. The successful closure of the Series C financing round marks a significant milestone in H55’s journey to create a cleaner, greener future for aviation.
The latest round of financing demonstrates the unwavering confidence of investors in H55’s vision and potential. 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 commercialization of H55’s electric aviation technologies, encompassing advanced propulsion systems and state-of-the-art battery technologies.
“This financing milestone is a testament to the hard work and dedication of the entire H55 team”, comments André Borschberg, H55 Executive Chairman and Co-Founder. “Making a significant and positive impact on the aviation industry has been a very dear personal goal of mine, first with the Solar Impulse project and now with H55 who is revolutionizing the aviation industry. As such, we are immensely grateful to our investors for sharing this vision and recognizing 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”.
“We are deeply grateful to our investors for their belief in our mission in changing the historical economic and technological paradigms associated with air transportation”, says Martin Larose, H55’s Chief Executive Officer. “H55’s electric propulsion systems have gained widespread acclaim for their 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 in clean aviation. A great team and a great group of investors, the perfect team to bring clean aviation to a new level”.
H55’s Electric Propulsion Systems have garnered widespread acclaim for their exceptional performance and positive environmental impact. By significantly reducing carbon emissions and noise pollution, H55 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.
H55 S.A. is a Swiss-based company founded and led by a team of visionary engineers and aerospace experts. The company’s mission is to revolutionize the aviation industry by providing certified electric propulsion and battery management systems tailored to a diverse range of aircraft to achieve sustainable air travel.
Through a commitment of providing certified solutions and its pioneering legacy as the technological spin-off of the renowned Solar Impulse electric airplane 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.