H55 raises 45 million Swiss francs to continue its expansion
26 September 2023 12:11
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 in the 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.
According to a press release, 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.
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. ggba