Electric aviation company H55 announced the closing of its CHF 65 million (USD$74 million) Series C funding round, with a new investment from the Government of Quebec, adding to an initial phase last year.

Launched in 2015, Swiss-based H55 was founded by André Borschberg, Sebastien Demont and Gregory Blatt, the former management team of Solar Impulse, the first electric airplane to fly around the world, propelled by solar energy. The company now specializes in certified electric propulsion, battery packs, and energy management solutions, tailored to a diverse range of aircraft, with a goal to achieve sustainable air travel.

Martin Larose, CEO of H55, said:

“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 company said that its battery packs will be ready for integration into small aircraft starting early in 2025. In March 2024, the European Union Aviation Safety Agency (EASA) approved H55’s Compliance Check List for its Energy Storage System (ESS), confirming adherence to operational suitability and environmental standards.

According to H55, the new funds will enable the company to complete EASA final certification testing requirements for its propulsion battery pack by the end of 2024, which, the company said, will be a world’s first.

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.

André Borschberg, Co-Founder and Executive Chairman of H55, said:

“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.”