SION, Switzerland,
May 21,
2024 /CNW/ -- H55, a pioneer in electric aviation
technologies, is thrilled to announce the intention of
the Governement of Québec
to invest in equity in H55. Led by Investissement Québec,
a key driver of economic development in Quebec, this
investment would mark a major milestone in H55's journey to bring
certified electric propulsion solutions to North America, supporting the
company's production ramp-up
and research and development activities. This investment
in H55 would be in line with Government's plans to establish a new
innovation zone, Espace Aéro, focusing on the aerospace
industry.
Headquartered in Switzerland, H55 leads the way in electric aviation, specializing in certified
electric propulsion, battery storage, and energy management
solutions. With a steadfast commitment to safety, performance,
and sustainability, the company is enabling the aviation industry
to achieve net zero emissions, offering cutting-edge technologies
for a greener and more efficient future of air travel.
This significant development follows several
recent announcements, driving growth momentum for
H55. In late March, H55 announced European Union Aviation
Safety Agency's (EASA) approval of its Compliance Check List for
its electric motor, battery packs, and energy management systems,
making it the first company to meet all requirements for the entire
Electric Propulsion System (EPS). Regulatory engagements with
the FAA and Transport Canada are underway to expedite North
American Type Certification.
H55 Canada,
located in the Greater Montreal
region in Longueuil, will serve as the primary hub for
H55's North American manufacturing operations. Equipped with a
state-of-the-art facility, initial battery pack production is set
to commence in late 2024. H55 Canada will
continue to collaborate on product development and engineering customization with key customers,
including Pratt & Whitney
Canada, CAE, and Harbour Air.
Investissement Québec's investment would represent a pivotal
moment in H55's journey, providing financial support to scale up
North American production, engineering, and research and
development activities. This strategic partnership would
underscore Québec's dedication to
fostering innovation in aerospace, reinforcing its position as a hub for cutting-edge technological
advancements in sustainable aviation, and accelerating H55's
ambitions in Canada and the
USA.
Pierre Fitzgibbon, Minister of
Economy, Innovation and Energy, Minister Responsible for Regional
Economic Development and Minister Responsible for de Metropolis and
the Montréal Region, stated : "Today's announcement is an
excellent demonstration of our commitment to developing
Québec's economy. With the arrival
of a key player like H55, our ecosystem will be
stronger than ever."
Expressing gratitude for the Government of Québec's steadfast
support, André Borschberg, Co-Founder and Executive Chairman of
H55, emphasizes, "Invest Québec's investment in H55 would
accelerate our operational expansion in Québec." Emphasizing the
Aerospace Innovation Zone's dynamic
environment, he adds, "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."
In response to the investment intentions, H55's CEO,
Martin Larose expressed enthusiasm,
stating, "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, propelling our research and development endeavors, and
bolstering our ongoing
customer initiatives in Canada alongside
PW&C, CAE, and Harbour Air. Having the Government
of Québec onboard provides all the right prerequisites in
positioning H55 as a leader in sustainable aviation".
Furthermore, H55 and the Government of Québec will partner closely
to foster innovation around battery technologies and
sustainable energy solutions. Leveraging its abundance of
clean energy resources, Québec aims to promote clean energy storage
solutions and support the transition to a low-carbon energy
system. This investment represents a significant
development for H55, propelling the company forward
in its goal of revolutionizing the aviation
industry through
sustainable innovation. With the Government of Québec's funding,
H55 would be poised to make even greater strides in advancing
the future of flight.
For more information about H55 and its groundbreaking electric propulsion technology, please
visit www.h55.ch.
About H55
H55 is a Swiss-based company founded and led by the former Solar
Impulse management team,
André Borschberg, Sebastien Demont
and Gregory Blatt. H55's mission is to revolutionize the
aviation industry by providing certified electric propulsion and
battery management systems tailored to a diverse range of aircraft
to achieve sustainable air travel. Through a commitment of
providing certified solutions and its pioneering legacy, the H55
team of visionary engineers and aerospace experts is at the
forefront of driving the aviation industry toward a more
environmentally responsible future, setting
new standards, and pushing the boundaries of what
is possible in electric aviation.
For more information press@h55.ch, T: +41 79 464 22
60
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