The Quebec government has invested in electric airplane battery maker H55 as the company develops a manufacturing plant in the Montreal area.

H55 announced that its recently closed Series C round generated US$74 million; as part of the deal, the province acquired equity in the company. The Swiss company’s future facility near St-Hubert Airport in Longueuil, Que., is under construction.

H55 said that some of the funds will support manufacturing efforts at the future suburban Montreal plant. Most significantly at this time, the funding will enable H55 to complete the European Union Aviation Safety Aviation final certification testing requirements for its propulsion battery pack by year-end 2024.

“H55 will be the first company to be compliant with its battery packs with the certification authorities,” said André Borschberg, the company’s co-founder and executive chairman.

“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.”

The Montreal-area plant will include manufacturing, product development, research and development and customer-integration support.

Martin Larose, CEO of H55, said the Series C funding is pivotal for the company’s North American expansion effort.

“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,” said Larose.

The North American expansion effort includes manufacturing activities at H55’s Montreal facility, product development, and engineering customization with key customers like Longueuil-based global airplane-engine manufacturer Pratt & Whitney Canada; Montreal-based international aviation technology firm CAE, and Vancouver-based seaplane airline Harbour Air.

Harbour plans to power its entire seaplane fleet by electricity in the future.

H55 previously announced that the firm will invest $100 million over the next five years in the Montreal-area plant. The Swiss company is developing the property through a Canadian subsidiary.

In March 2023, Ottawa provided a $10-million loan to H55 to help the company develop the facility.

Image: H55