H55 raises CHF 45 million to continue its ascension in electric aviation
25 September 2023
H55, the Valais-based trailblazer heralding a new era of electric propulsion technologies, has successfully secured CHF 45 million in its Series C financing round.
Established as a spin-off from the iconic Solar Impulse project, H55 has carved its niche as pioneering provider of certified electric propulsion systems and battery solutions. Situated on the Energypolis campus in Sion (canton of Valais), the company has become synonymous with the ongoing shift toward electric and hybrid-electric propulsion in the aviation industry.
With a modest beginning in 2017, H55 swiftly ascended to prominence, orchestrating partnerships with global firms. Key collaborations include teaming up with Pratt & Whitney Canada for a hybrid-electric demonstrator program and providing battery technology to the world’s first certified all-electric commercial airplane, in partnership with Harbour Air and magniX.
The recent influx of capital will fuel H55’s expansion into the global market, with new subsidiaries and facilities mushrooming in Montreal and Toulouse. This move aims to bridge the gap between H55’s cutting-edge technologies and the burgeoning North American and European markets. The funds will also bolster H55’s transition to a semi and automated production in Switzerland and Canada, streamlining the company’s processes to meet the surging demand for its innovative solutions.
Commenting on the financing milestone, André Borschberg, H55 Executive Chairman and Co-Founder, emphasized the investors’ alignment with H55’s vision of transforming aviation into a cleaner, more sustainable frontier.
Fueling ambitions for eco-friendly commuting and VTOL Aviation
H55’s ambition doesn’t end here. The firm has an eye on the future, with plans to further refine its electric propulsion systems, aspiring to be at the heart of the electric commuter airplane realm, and the emerging VTOL (Vertical Take-Off and Landing) aircraft segment.
The Series C financing underscores a milestone not only for H55 but for the entire electric aviation sector, as it amplifies the momentum propelling the industry toward a greener and more sustainable horizon.