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 round is being led by ND Capital, Tippet Venture Partners, RTX Ventures and prominent private investors.
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”.
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
(Press release - ES)
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