Quebec plans investments in H55

23 May 2024 09:44

Greater Geneva Bern

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Sion/Quebec - H55, a company from the canton of Valais, has announced the Government of Quebec’s intention of investing in its equity. It adds that this would be an important milestone for advancing research activities in modular electrical drive and battery systems for aviation.

H55, a specialist in electric aviation based in Sion in the canton of Valais, has announced the intention of the Government of Quebec to invest in the company’s equity. According to a press release, the support of Investissement Québec would enable the expansion of production, engineering, and research and development activities in Canada.

According to the press release, Quebec has an extensive reservoir of clean energy resources and would like to promote clean energy storage solutions, thus driving forward the transition to a low-carbon energy system. Quebec’s innovation intentions for H55 Canada would thus strengthen sustainable aviation in the region. Production of the first battery packs is to start at the end of 2024, with plans also to continue H55 Canada’s collaboration with important clients, including Pratt & Whitney CanadaCAE, and Harbour Air.

André Borschberg, Co-Founder and Executive Chairman of H55, commented on the Aerospace Innovation Zone’s “dynamic environment” in the press release, stating: “ This zone offers unparalleled opportunities, uniting companies and academic institutions aligned with our vision of revolutionizing aviation paradigms. We are honored to be chosen by the Government to play a pivotal role in shaping Québec into a leading global hub for clean aviation.” He added: “Invest Québec’s investment in H55 would accelerate our operational expansion in Québec.”

CEO of H55 Martin Larose stated: “We would be delighted to welcome Invest Québec as a valued strategic partner. This investment would mark a key moment in our journey, empowering us to expedite scaling up production.” ce/eb

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