H55
Assembly Line
H55 Keeping Up the Momentum: Series C Funding Closed, Accelerating Electric Propulsion Certification
H55, a pioneer in electric aviation technologies, is pleased to announce the closing of its Series C funding round, including an investment from the Government of Québec. This funding milestone will enable H55 to complete the EASA final certification testing requirements for its propulsion battery pack by the end of 2024, which will be a world’s first.
The Series C financing round closed at CHF 65 million including the first phase announced last year. This funding allows H55 to finalize all EASA certification requirements for its battery packs by the end of this year. The battery packs will be ready for integration into CS-23 aircraft starting early in 2025. In March 2024, EASA approved H55’s Compliance Check List for its Energy Storage System (ESS), confirming adherence to operational suitability and environmental standards. Rigorous testing has validated the safety and performance of H55’s battery pack, positioning the company at the forefront of electric aviation innovation.
Electrifying success: H55 the leading provider of certified electric propulsion technologies raises CHF 45 million in its Series C financing round
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.
RTX Ventures invests in H55 to advance electric propulsion technologies for clean and efficient air mobility applications
RTX Ventures, the venture capital arm of Raytheon Technologies (NYSE: RTX), has made a minority investment in electric propulsion system company H55 to drive the development of electric aviation solutions. The investment in H55 aligns with Raytheon Technologies’ longstanding leadership in the development of innovative and sustainable propulsion technologies.
As part of this investment, H55 will benefit from RTX Ventures’ guidance in supporting H55’s plans to accelerate electric propulsion solutions and battery systems. H55 is already working with the company to develop and demonstrate hybrid-electric propulsion technologies. RTX Ventures will also facilitate opportunities to work together on future product development.