H55, a pioneer in electric aviation technologies, has secured an additional CHF 20 million, closing its Series C funding round, including an investment from the Government of Québec. The funds will enable H55 to complete the EASA final certification testing requirements for its propulsion battery pack by the end of 2024 and facilitate its expansion into North America.
A provider of certified electric propulsion, battery packs, and energy management solutions, H55 is dedicated to driving the aviation industry toward net-zero emissions while ensuring safety and outstanding performance. Founded and led by the former Solar Impulse management team, André Borschberg, Sebastien Demont and Gregory Blatt, the company provides certified electric propulsion and battery management systems tailored to a diverse range of aircraft to achieve sustainable air travel.
The company has closed its Series C financing round at CHF 65 million including the first phase proceeds of CHF 45 million announced last year. The funding allows H55 to finalize all EASA certification requirements for its battery packs by the end of this year. Poised to be the world’s first, the battery packs will be ready for integration into CS-23 starting early in 2025. In March 2024, EASA approved H55’s Compliance Checklist 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.
Participants in the new round include the Government of Quebec, represented by Investissement Québec, providing the company with funds to support its 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. H55 Canada, located in the Greater Montreal region in Longueuil, will serve as the primary hub for H55’s North American manufacturing operations.
“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,” said André Borschberg, Co-Founder and Executive Chairman of 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."
(Press release/RAN)
The new Swiss Venture Capital Report was published on 26 January. It analyses 304 financing rounds closed in 2020 and includes further article such as an interview with Michael Hengartner, President of the ETH Board, and a list of Swiss "soonicorns". 
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