RTX Ventures, the venture capital arm of Raytheon Technologies, has made a minority investment in electric propulsion system company H55. H55 is already working with Raytheon subsidiary Pratt & Whitney to develop and demonstrate hybrid-electric propulsion technologies.
H55, a Swiss company, is a leading enabler of electric propulsion solutions and battery systems. The team has proven ability in developing, integrating and flight-testing electric propulsion systems, including Solar Impulse, the first solar-powered electric airplane to fly around the world.
“H55 is a key collaborator in our strategy for demonstrating the potential of hybrid-electric propulsion technology, which will be enhanced by this investment from RTX Ventures,” said Graham Webb, chief sustainability officer at Pratt & Whitney. “Together, H55 and Raytheon Technologies are advancing new technologies that will help achieve the aviation industry's goal of reaching net zero CO2 emissions by 2050.”
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.
“Receiving an investment from RTX Ventures is yet a further recognition of H55’s track record, expertise, and potential,” said André Borschberg, H55’s executive chairman. “With RTX Ventures, H55 will benefit from the potential opportunity to work with Raytheon Technologies on a range of projects that will enable us to intensify our offering, building-out a wide portfolio of products and solutions suitable for many customers and applications across the aviation industry.”
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, recorded sales of USD64.4 billion in 2021.
(Press release / SK)
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