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H55 raises USD 49 million in Series C financing round for electric battery technologies

H55 has announced the completion of the first part of its Series C financing round securing USD 49 million. The company says it has raised the finance from a group of distinguished strategic and financial investors, “further consolidating the company’s position as a major provider of certified electric propulsion aviation technologies”.

According to the press release “H55 is at the forefront of revolutionising the aviation industry with its electric propulsion technologies. The company’s solutions are designed to enhance the sustainability, efficiency, and safety of the aerospace sector. The successful closure of the Series C financing round marks a significant milestone in H55’s journey to create a cleaner, greener future for aviation.

“The secured funds will be deployed to finance H55’s ongoing infrastructure investments including building a factory in its recently established Montreal, Quebec facility, moving to semi and automated production in the company’s production facilities in Switzerland and Canada and opening a subsidiary in Toulouse, France. These financial resources will also expedite the development and commercialisation of H55’s electric aviation technologies, encompassing advanced propulsion systems and state-of-the-art battery technologies.”

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(Image: H55)

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