H55 Secures $62 Million for Electric Aircraft Battery System

H55, a Swiss company specializing in electric aircraft battery technology, has successfully raised CHF55 million ($62 million) in its recent Series C funding round. This significant funding boost will enable H55 to complete the final European certification testing requirements for its innovative propulsion battery pack by the end of 2024, marking a groundbreaking achievement in the aviation industry.

The Series C funding round saw participation from various investors, including the Government of Québec, highlighting the growing interest and support for sustainable aviation solutions. A portion of the funding will be allocated towards H55's expansion into North America, with plans to establish manufacturing facilities in Montreal. Additionally, the company aims to further develop its products and collaborate with industry leaders such as Pratt & Whitney Canada, CAE, and Harbour Air.

Founded as a spin-off from the Solar Impulse solar-powered aircraft program, H55 specializes in certified electric propulsion systems, battery packs, and energy management solutions. The company's cutting-edge battery packs are set to be integrated into CS-23 aircraft starting in early 2025, following the approval of its Energy Storage System Compliance Check List by the European Union Aviation Safety Agency (EASA) in March 2024.

With a strong focus on safety and performance, H55 has conducted rigorous testing to validate the reliability of its battery pack, positioning the company at the forefront of electric aviation innovation. André Borschberg, Co-Founder and Executive Chairman of H55, expressed his excitement about the upcoming market debut, stating, "H55 will be the first company to achieve compliance with certification authorities for its battery packs, a significant milestone that underscores our commitment to excellence."

CEO Martin Larose also emphasized the strategic importance of the Series C funding, particularly with the Government of Québec's equity investment in H55. This partnership not only provides the necessary resources to advance certification efforts but also signals confidence in the company's vision for the future of electric aviation. As H55 continues to make strides in sustainable aviation technology, the support from investors and government entities alike will play a crucial role in shaping the industry's evolution.