H55 KEEPING UP THE MOMENTUM: SERIES C FUNDING CLOSED, ACCELERATING ELECTRIC PROPULSION CERTIFICATION

SION, Switzerland, July 24, 2024 /PRNewswire/ -- H55, a pioneer in electric aviation technologies, is pleased to announce the closing of its Series C funding round, including an investment from the Government of Québec. This funding milestone will enable H55 to complete the EASA final certification testing requirements for its propulsion battery pack by the end of 2024, which will be a world's first.

With its headquarters in Switzerland, H55 specializes in certified electric propulsion, battery packs, and energy management solutions. Committed to safety, performance, and sustainability, H55 drives the aviation industry toward net zero emissions with cutting-edge technologies for a greener future.

The Series C financing round closed at CHF 65 million including the first phase announced last year. This funding allows H55 to finalize all EASA certification requirements for its battery packs by the end of this year. The battery packs will be ready for integration into CS-23 aircraft starting early in 2025. In March 2024, EASA approved H55's Compliance Check List for its Energy Storage System (ESS), confirming adherence to operational suitability and environmental standards. Rigorous testing has validated the safety and performance of H55's battery pack, positioning the company at the forefront of electric aviation innovation.

The Series C round includes the Government of Quebec, represented by Investissement Québec. The funds will also be allocated to supporting H55's North American expansion which includes manufacturing at H55's Montreal facility, product development, and engineering customization with key customers like Pratt & Whitney Canada, CAE, and Harbour Air.

André Borschberg, Co-Founder and Executive Chairman of H55, "It goes without saying that we are delighted in successfully closing our Series C funding round. H55 will be the first company to be compliant with its battery packs with the certification authorities. Being only a few months away from satisfying all the certification requirements for our batteries will allow us to be the first in the market, a great achievement for H55"

Martin Larose, CEO of H55, "We are incredibly proud to have secured Series C funding, with the Government of Quebec taking an equity position in H55. This strategic investment is pivotal for expanding our North American operations and underscores confidence in our vision for electric aviation. The support from the Government of Quebec provides the necessary resources to advance our certification efforts, while at the same time scaling up our North American operations."

With this significant achievement H55 is poised to lead the charge in revolutionizing the electric aviation industry. The future of clean and efficient air travel is closer than ever, and the entire H55 team extends its gratitude to the unwavering support and collaboration from its investors and partners.

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 [email protected], Axelle Krummacher, [email protected], +41794642260

H55 SA
Route de l'Aéroport 10 1950 Sion
Switzerland www.h55.ch

Logo: https://mma.prnewswire.com/media/2345318/4827377/H55_Logo.jpg

SOURCE H55